Gurit’s latest financial figures show a decrease of 1.9% net sales for its marine and industrial segments for the first half of 2024 compared to the same period in 2023.
The advanced composites manufacturer reports net sales of CHF 51.5 million in the first half of 2024 for marine and industrial.
After some weakness at the beginning of the year the marine markets resumed their growth, and industrial markets continued to offer multiple opportunities, said the company in a statement.
Overall, the marine and industrial business is performing in 2024 as expected.
Unaudited net sales for the first half of 2024 for the whole company were CHF 213.5 million, a decrease of -8.8% at constant exchange rates or -12.7% in reported CHF compared to the first half of 2023.
The company had an adjusted operating profit of CHF 11.6 million with an adjusted operating profit margin of 5.4% compared to CHF 13.6 million or 5.6% in the first half of the prior year.
After restructuring charges, the operating profit was CHF 9.9 million with an operating profit margin of 4.6%.
During this period, Gurit has continued to extend its technical capabilities in the marine and industrial markets, at its Canadian Corecell site and has integrated the newly acquired FX Composites in the USA.
Gurit believes that accelerating product substitution and improved technical capabilities will support profitable growth in its marine and industry sector in the future.
