Gurit has reported preliminary net sales of CHF578.8 million for the full year 2020, an increase of 0.4% from the same period of 2019 (CHF576.4 million).

The company’s Composite Materials business had net sales of CHF276.2 million for 2020, an increase of 10.7% in reported Swiss francs, while net sales in Kitting were CHF225.6 million, compared to CHF190.7 million in the previous year period, an increase of 18.3% in reported Swiss francs and 25.4% at constant exchange rates.

Gurit’s Tooling business fared less well, with reported net sales of CHF98.7 million for the year 2020, a decrease of 7.0% in reported Swiss francs, and Aerospace had a significant decline of 41.0% net sales at CHF31.6 million in 2020.

‘The wind energy market demand was strong across all product groups, a press release said. ‘Impacted by COVID-19, marine markets saw weaker sales due to lower yacht building activity. The Aerospace business unit now sees a stabilization at the currently low level of demand, but as of now sees no signs of recovery in the global passenger aircraft market.’

This story uses material from Gurit, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.