Gurit H1 2023 Results

Media and Analyst Conference

Mitja Schulz

Philippe Wirth



16 August 2023 at 09:00 AM CET


Introductory statement

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 |



  1. Business update
  2. Financial results
  3. Outlook
  4. Organizational Update
  5. Q&A session for Analysts & Journalists

Gurit H1 2023 Results | 16 / 08 / 2023 |


H1 2023 - Highlights

Sales in CHFmFree cash flow in CHFm



+17.6% 1) vs. H1 2022

-19.3m in H1 2022

Adj. operating profit margin

Net debt in CHFm



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 |


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 |



  • Original Link
  • Original Document
  • Permalink


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.