Gurit Q1 Sales and AGM decisions

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.


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

Net sales
by Target    YTD sales                             Sales by quarter
                           Change in Change @ ytd  Q2     Q3     Q4     Q1
in CHF 1000  2012   2013   repor-ted 2013 transl.  2012   2012   2012   2013
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
Composite    89'560 52'922 -40.9%    -41.4%        82'706 83'946 54'004 52'922
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
Systems      6'197  7'908  27.6%     26.7%         17'182 7'561  9'864  7'908
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,, T +41 44 316 15 62, M +41 79 217 11 67

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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

Link to the pdf file of this release

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