EQS Group-Ad-hoc: Gurit Holding AG / Key word(s): AGMEGM/Quarter Results 
Gurit reports net sales of 127.7 million CHF in Q1/2021 
14-Apr-2021 / 18:38 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 KR 
The issuer is solely responsible for the content of this announcement. 
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Net sales in the first quarter were impacted by a temporarily reduced demand for wind blades in China in 2021 as a 
result of the expiry of the Chinese wind feed-in tariffs by year-end 2020, and by decreasing Balsa raw material costs 
and corresponding lower sales prices. The Marine and Industrial markets have rebounded to pre-COVID-19 levels and 
Aerospace has stabilized at low levels. 
 
Composite Materials achieved net sales of CHF 59.8 million for the first quarter of 2021. This represents a decrease of 
-9.8% at constant exchange rates compared to the first quarter of 2020. The decrease is mainly due to Wind volumes in 
China and reduced prices in Balsa while Marine and Industrial markets are back to pre-pandemic levels. 
 
Kitting recorded net sales of CHF 43.0 million for the first quarter of 2021. This is a decrease of -9.5% at constant 
exchange rates compared to the first quarter of the prior year. Kitting net sales were also negatively impacted 
compared to prior year due to the slowdown in China and lower material pricing. 
 
Tooling saw an increase in first quarter 2021 net sales by 57.7% at constant exchange rates compared to the first 
quarter of 2020 to CHF 30.6 million. The strong growth is mainly due to the timing of orders of western wind turbine 
OEMs and blade manufacturers. 
 
Aerospace net sales in the first quarter of 2021 of CHF 6.6 million declined by -51.5% at constant exchange rates 
compared to the first quarter of 2020. While we face a sharp decline compared to prior year's pre-COVID-19 levels, 
sales have stabilized at a low level and necessary cost adjustments have been executed. 
 
NET SALES                  First Quarter 
in mCHF                    2021  2020  Change in reported CHF Change @ constant 2020 rates 
Composite Materials        59.8  66.2  -9.6%                  -9.8% 
Kitting                    43.0  48.1  -10.6%                 -9.5% 
Tooling                    30.6  19.5  57.4%                  57.7% 
Aerospace                  6.6   13.4  -50.7%                 -51.5% 
Elimination                -12.3 -12.4 
Total Continued Operations 127.7 134.7 -5.2%                  -4.8% 
Composite Components       0.0   1.4   -100.0%                -100.0% 
(Discontinued Operations) 
Total Group                127.7 136.1 -6.2%                  -5.8%

Outlook

For the year 2021, Gurit expects a revenue of around CHF 530-580 million and an operating profit margin between 9 -11%. After the transition year 2021 we expect the wind market to continue to grow strongly, driven by increased demand for renewable energy.

Annual General Meeting of Shareholders

The Annual General Meeting today approved all motions proposed by the Board of Directors. Gurit will thus pay out to shareholders a total of 30.00 CHF per listed bearer share. Gurit bearer shares will be traded ex-dividend as from April 16, 2021 (ex-dividend date). The positions entitled to dividend payments will be recorded on April 19, 2021 (record date), and the payments will be made on April 20, 2020 (payment date). AGM voting results will be published on Gurit's Investor Relations webpage under the following link: https://www.gurit.com/en/investors/agm

About Gurit

The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialized on the development and manufacture of advanced composite materials, composite tooling equipment and core kitting services. The product range comprises, structural core materials, fibre reinforced prepregs, formulated products such as adhesives, resins as well as structural composite engineering. Gurit supplies global growth markets such as the wind turbine industry, aerospace, marine, rail and many more. Gurit operates production sites and offices in Australia, Canada, China, Denmark, Ecuador, Germany, Indonesia, India, Italy, Mexico, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.

www.gurit.com

Gurit Group Communications

Thomas Nauer Phone: +41 44 316 15 50

E-mail. thomas.nauer (at) gurit.com

All trademarks used or mentioned in this release are protected by law.

Forward-looking statements:

To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement. ----------------------------------------------------------------------------------------------------------------------- End of ad hoc announcement ----------------------------------------------------------------------------------------------------------------------- 


Language:     English 
Company:      Gurit Holding AG 
              Thurgauerstrasse 54 
              8050 Zurich 
              Switzerland 
Internet:     https://www.gurit.com/ 
ISIN:         CH0008012236 
Valor:        801223 
Listed:       SIX Swiss Exchange 
EQS News ID:  1184907 
 
End of Announcement EQS Group News Service 
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1184907 14-Apr-2021 CET/CEST

(END) Dow Jones Newswires

April 14, 2021 12:40 ET (16:40 GMT)