Gurit has reported unaudited net sales for the first half of 2025 at CHF164.7 million (US$204.6 million), marking a decrease of -20.1 per cent at constant exchange rates or -22.9 per cent in reported CHF compared to the same period in 2024.
Gurit reached an adjusted operating profit of CHF9.3 million (US$11.6 million) with an adjusted operating profit margin of 5.7 per cent. This compares to CHF11.6 million (US$14.4 million) or 5.4 per cent in the first half of the prior year.
The performance of the wind materials segment was mainly improved by the planned exit of the carbon fibre pultrusion business, whereas the marine and industrial segment was impacted by an overall wait-and-see attitude of customers caused by the US tariff discussions.
Gurit said that, following the completion of its restructuring and ongoing new markets development efforts, it remains confident about the success of its currently undergoing strategic realignment and achieving a full-year adjusted operating profit margin similar to 2024 levels.
Gurit successfully completed its restructuring efforts in the first half of 2025, resulting in a leaner and more focused organisation. This strategic realignment, initiated in 2024 in response to wind market volatility, has led to operational improvements, cost reductions, and a more resilient structure.
The transformation plan supports Gurit’s multi-market strategy and positions the company for continued progress.
The wind materials achieved net sales of CHF105.0 million (US$130.4 million) for the first half of 2025. This represents a decrease of -22.9 per cent at constant exchange rates compared to the first half of 2024. Sales in the wind segment were lower, primarily due to the planned exit from the carbon fibre pultrusion business.
Importantly, the segment’s competitiveness and profitability showed substantial improvements, supported by the closure of non-strategic production locations and cost-saving initiatives, as well as focusing on profitable core materials business.
Gurit also continues to prioritise the strengthening of relationships with key Western wind customers and is actively finalising long-term agreements, which it said is an important step toward securing stable and sustained growth.
The marine and industrial segment achieved net sales of CHF44.6 million (US$55.4 million) in the first half of 2025. This represents a decrease of -10.5 per cent at constant exchange rates compared to the first half of 2024.
A large project was expected to start in H1 and has been postponed to the 4th quarter, and a wait-and-see attitude has been noticed in all submarkets where investment projects are included, due to the overall US tariffs-led market uncertainty.
Gurit has an unchanged confidence in marine and industrial opportunities. The company sees a clear customer value in foams from recycled materials, demonstrated by large contracts recorded in new markets such as office furniture or recreational vehicles.
In the first half of 2025, Gurit achieved an adjusted operating profit margin of 5.7 per cent. Given the discontinuation of the carbon fibre pultrusion business, an anticipated cash and equity neutral goodwill recycling of CHF64.2 million (US$79.7 million) impacted the group’s income statement as required under Swiss GAAP FER.
These restructuring charges incurred during the period led to an operating loss of CHF58.4 million (US$72.5 million). In comparison, the first half of 2024 saw Gurit record an adjusted operating profit margin of 5.4 per cent and an operating profit margin of 4.6 per cent including restructuring costs.
With the completion of the restructuring and strategic actions, Gurit anticipates that the operating profit will further improve in the second half of this year.