Gurit Reports Modest Growth and Positive Financial Performance for 2023

Gurit Holding AG announced its financial results for the year 2023 with a net sales figure of CHF 459.9 million, marking a cautious yet positive growth. The company, listed on the SIX Swiss Exchange under the symbol GURN, reported a net operating profit of CHF 20.3 million, equivalent to a 4.4% margin of net sales. The adjusted operating profit slightly improved to CHF 20.6 million, accounting for a 4.5% margin. A significant reduction in net debt by CHF 24.1 million was highlighted, attributed to enhanced cash flow generation.

The firm witnessed a 0.5% increase in net sales at constant exchange rates over the previous year, with significant contributions from structural profiles and a boost in net sales across wind materials, manufacturing solutions, and marine and industrial sectors. The cautious investment by wind customers and profitable growth in the marine and industrial business segments were notable trends in 2023. Gurit also expanded its US operations with the acquisition of FX Composites, aiming to tap into the marine and industrial markets more effectively.

Looking ahead to 2024, Gurit is optimistic about further profitability improvements, banking on its diversified global presence and strategic initiatives. The company anticipates net sales to fall between CHF 435 - 485 million and expects an adjusted operating profit margin of 5% - 8%. Additionally, Gurit’s ongoing commitment to sustainability was underscored by achieving a gold medal from EcoVadis and an A rating from MSCI, showcasing its strides in environmental, social, and governance (ESG) aspects.