Gurit (GURN) Q3 2024 TU earnings summary

Executive summary

• Net sales for the first nine months of 2024 reached CHF 315.1 million, down 7.3% at constant exchange rates year-over-year.

• Strategic realignment underway, including streamlining wind operations and organizational changes.

• CEO Mitja Schulz is leaving; CFO Javier Perez Freije appointed as interim CEO.

Financial highlights

• Wind materials net sales: CHF 210.7 million, down 6.1% at constant exchange rates year-over-year.

• Manufacturing solutions net sales: CHF 27.8 million, down 26.2% at constant exchange rates year-over-year.

• Marine and industrial net sales: CHF 76.7 million, down 1.5% at constant exchange rates year-over-year.

• Total group net sales: CHF 315.1 million, down 7.3% at constant exchange rates year-over-year.

Outlook and guidance

• Full-year 2024 sales expected around CHF 435 million.

• Adjusted operating profit margin guidance confirmed at 5-8%.