Gurit grew sales in new businesses and markets in Q1 2013 but could not yet offset the slowly recovering wind energy demand Annual General Meeting confirms all proposals Zürich and Pfäffikon/SZ, Switzerland, April 9, 2013. Gurit achieved in the first three months of 2013 net sales of CHF 60.8 million. This represents a decline of 36.5% against the respective strong, prior-year period. The growing material sales into new industrial markets could not yet offset the shortfalls in sales to the wind energy market, which suffers from still very low activity in Asia and a slow recovery from the poor Q4 2012 levels in the USA. The Annual General Meeting of Shareholders held today at Pfäffikon/SZ confirmed all proposals formulated by the Board of Directors. Composite Materials Gurit achieved in Q1 2013 net sales of CHF 52.9 million (Q1 2012: CHF 89.6 million) with customers in the traditionally supplied materials markets of Wind Energy, Aerospace, Rail and Marine and the growing broad industrial market. Gurit achieved a 17.8% sales increase with material supplies for Industrial and Marine purposes; sales to Aerospace and Rail customers remained almost stable. Sales achieved in the Wind Energy market declined due to low demand in Asia, stable sales in Europe and the slow recovery in the USA where the production tax credits were only renewed at year-end 2012. Composite Systems and Engineering Gurit reports for Q1 2013 net sales of CHF 7.9 million (Q1 2012: CHF 6.2 million) from engineering services and the manufacture of finished parts, systems and tools. Sales of finished automotive car body parts made from carbon fibre prepregs rose by 126.6% compared with Q1 2012. Systems and components for other industries increased 12.6%. The demand for moulds for wind rotor blades is still very low. Outlook Gurit confirms its guidance for FY 2013 and continues to expect a sales level of around CHF 300 million and an operating profit margin exceeding 6% of sales. Net sales by Target YTD sales Sales by quarter Markets Change in Change @ ytd Q2 Q3 Q4 Q1 in CHF 1000 2012 2013 repor-ted 2013 transl. 2012 2012 2012 2013 CHF Wind Energy 62'250 23'504 -62.2% -62.5% 58'494 57'718 26'128 23'504 Aero & Rail 12'786 12'307 -3.7% -4.7% 11'115 11'790 12'382 12'307 Industrial & 14'524 17'111 17.8% 17.1% 13'097 14'438 15'494 17'111 Marine Composite 89'560 52'922 -40.9% -41.4% 82'706 83'946 54'004 52'922 Materials Automotive 1'378 3'123 126.6% 127.3% 2'823 3'383 4'480 3'123 Tooling 3'763 3'596 -4.4% -5.5% 13'616 3'151 4'406 3'596 Engineered 1'056 1'189 12.6% 12.2% 743 1'027 978 1'189 Structures Composite Systems 6'197 7'908 27.6% 26.7% 17'182 7'561 9'864 7'908 and Engineering Total Group 95'757 60'830 -36.5% -37.0% 99'888 91'507 63'868 60'830 The Annual General Meeting held today at Pfäffikon/SZ approved all motions formulated by the Board of Directors: Gurit will thus pay out CHF 15.00 per listed bearer share out of reserves from capital contributions; this payment is exempt from withholding tax. Gurit bearer shares will be traded ex-dividend as from Thursday April 11, 2013 (ex-dividend date). The positions entitled to dividend payments will be recorded on Monday April 15, 2013 (record date) and the payments will be made on Tuesday April 16, 2013 (payment date). The Annual General Meeting re-elected Peter Leupp, Chairman, for another three-year term of office as Member of the Board of Directors. For further information on Gurit: Markus Knüsli Amacker, CFO and Head Investor Relations, firstname.lastname@example.org, T +41 44 316 15 62, M +41 79 217 11 67 Sign-up for email alerts is available at http://investors.gurit.com/news-alert-subscription.aspx On Gurit: The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Ex-change: GUR) are specialised on the development and manufacture of advanced composite materials, related technologies and select finished parts and components. The comprehensive product range comprises fibre reinforced prepregs, structural core products (man-made materials and balsa wood), gel coats, adhesives, resins and consumables. Gurit supplies global growth markets with composite materials on the one hand and composite tooling equipment, structural engineering and select finished parts on the other. The global Group has production sites and offices in Switzerland, Germany, the UK, Canada, Spain, Australia, New Zealand, the USA, Ecuador, Brazil, India and China. Link to the pdf file of this release Provider Channel Contact Tensid Ltd., Switzerland newsbox.ch Provider/Channel related enquiries www.tensid.ch www.newsbox.ch email@example.com +41 41 763 00 50
Gurit Q1 Sales and AGM decisions
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