Gurit, which makes composites for wind applications, has reported 2016 net sales of CHF 352 million, a currency-adjusted increase of 0.3% versus 2015. Operating profit margin was 10.5% of net sales, the best operating profit margin in more than 15 years, according to the company. Net profit increases to CHF 26.0 million.

The Composite Materials Business achieved mixed results in its various market areas, Gurit reported. In Wind, it suffered from the decline in newly installed wind capacity in China of 24% compared to the 2015 all-time high. Net sales to the wind energy market declined by 4.1% (currency-adjusted: -2.9%) to CHF 149.0 million. Material supply to other material markets slightly declined by 1.6 % in reported Swiss francs (currency-adjusted: 0.0 %), due to lower sales to the marine market which could not be fully offset by the positive double- digit growth in the aerospace business. In total, net sales in the Composite Materials Business decreased by 3.0% (currency-adjusted: -1.6%) year-on-year from CHF 274.0 million in 2015 to CHF 265.6 million in 2016.

Record year

Gurit`s Composite Components Business declined by 34.3% (currency-adjusted: -27.9%) from CHF 26.4 million in 2015 to CHF 17.3 million in 2016. The decrease results from the orderly end of contracts over the course of 2015.

Gurit`s Tooling Business was able to report yet another record year, according to the company Net sales increased by 16.9% (currency-adjusted: 21.8%) to CHF 69.0 million in 2016 compared to net sales of CHF 59.0 million in 2015.

‘Overall, Gurit currently estimates that the company will continue to grow on a low single-digit level in 2017,’ the company said in a press release. ‘In terms of profitability, the company strive to further substantiate its mid-term target of 8 –10% operating profit margin.’

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.