Gurit reported net sales of CHF 268.8 million for the first nine months of 2017, a currency-adjusted increase of 0.7% over net sales of CHF 272.8 million for the first nine months of 2016.

The Composite Materials business unit achieved net sales of CHF 185.3 million for the first nine months of 2017 compared to net sales of CHF 205.2 million for the same period of 2016, a decrease mainly resulting from the demand halt in the Indian wind energy market from Q2-2017 onwards, the company said.

The Composite Components business unit reported net sales of CHF 17.2 million for the first nine months of 2017 compared to CHF 12.8 million in the first nine months of 2016, an increase of 43.2% on a currency-adjusted basis

In Tooling, sales of wind turbine blade mulds and related equipment further increased to CHF 66.3 million for the first nine months of 2017, an increase by currency-adjusted 24.7% due to the ongoing favorable demand for onshore and offshore installation of multi-megawatt wind turbines with longer blades.

‘For the full year 2017, Gurit expects to achieve a low single-digit revenue growth despite the Indian wind energy market resuming demand in early 2018, only,’ the company said. ‘Operating profit margin for fiscal year 2017 is expected to reach the upper end of the guided range of 8-10% of net sales, including the recently announced restructuring cost.’

This story is reprinted from material from Guritwith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.