This presentation may include forward-looking statements that reflect the intentions, beliefs or current expectations and projections of Gurit Holding AG about the future results of operations, financial condition, liquidity, performance and similar circumstances.
Such statements are made on the basis of assumptions and expectations which may prove to be erroneous, although Gurit Holding AG believes them to be reasonable at this time.
Gurit H1 2023 Results | 16 / 08 / 2023 |
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Agenda
Business update
Financial results
Outlook
Organizational Update
Q&A session for Analysts & Journalists
Gurit H1 2023 Results | 16 / 08 / 2023 |
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H1 2023 - Highlights
Sales in CHFmFree cash flow in CHFm
244.6
6.5
+17.6% 1) vs. H1 2022
-19.3m in H1 2022
Adj. operating profit margin
Net debt in CHFm
5.6%
78.0
2.0% in H1 2022
104.2m in June 2022
1) Sales of total continued operations @ constant FX
Sales in line with expectations. Western Wind business with cautious signs of recovery, and solid Chinese wind business. Marine and other industrial markets continue growth trajectory.
Improved adjusted operating profit margin, driven by product mix in Manufacturing Solutions, better operational performance in new sites and cost saving measures implemented.
Recently acquired Structural Profile business still loss making.
Free cash flow improved CHF 25.8m compared to first half of last year, driven by higher operating profit and stringent NWC management.
Significantly de-leveraged balance sheet
Gurit H1 2023 Results | 16 / 08 / 2023 |
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H1 2023: Wind
Western wind customers are ordering moulds again - Manufacturing Solutions is seeing a more sustainable customer mix
PET market share increasing
Gurit maintains a strong position in China
Chennai plant has had a successful first year. PET & Kitting volumes on track, 1st mould shipped, ramped up Carbon Fiber pultrusion lines
Streamlined the European kitting manufacturing footprint (ES / TR)
Launched innovative "Modular Mould" concept during JEC April 23
Structural Profiles is still loss making and was impacted by operational issues in Denmark and the delayed ramp up of our lead customer in India
Continued restructuring at the Fiberline plant in Denmark to adjust costs to market needs
Pultruded profiles and mould production in India
Gurit H1 2023 Results | 16 / 08 / 2023 |
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Gurit Holding AG published this content on 16 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 04:58:07 UTC.
Gurit Holding AG is a Swiss holding company and is engaged in the development, production and marketing of advanced composite materials featuring bespoke physical and chemical characteristics. The Company operates through the sole business segment Composites. The Company's product portfolio comprises fiber reinforced glass and carbon prepregs, structural core products, gel coats, adhesives, resins and consumables as well as composite process equipment and car body panels. The Company focuses on four core markets: Wind Energy, for which the Company develops and manufactures advanced composites; Tooling, for which the Company manufactures moulds; Transportation, for which the Company produces aircraft interiors and spacecraft materials, and Marine, for which it manufactures and supplies composite materials to the boatbuilding market. It also supplies its products to the Architectural market and supplies the Ocean Energy sector, as well as provides engineering consultancy services.
GURIT HOLDING AG 
