Brief: Gurit FY Net Profit CHF 46.6 Million

Gurit Holding AG

02/03/2021 05:53

March 2 (Reuters) - GURIT HOLDING AG  GUR.S :
    * REPORTS NET SALES GROWTH FOR CONTINUED OPERATIONS OF 3.3%
IN CHF
AND 8.9% AT CONSTANT EXCHANGE RATES AND AN OPERATING PROFIT
MARGIN OF 11.2% FOR FISCAL YEAR 2020
    * NET SALES 2020 OF CHF 578.8 MILLION
    * OPERATING PROFIT MARGIN AT 11.2% OF NET SALES
    * PROPOSED DISTRIBUTION OF CHF 30.00 PER BEARER SHARE
    * GURIT ACHIEVED AN OPERATING PROFIT OF CHF 64.6 MILLION
(11.2% OF
NET SALES) AND NET PROFIT AMOUNTED TO CHF 46.6 MILLION IN 2020.
    * EXPECTS TO ACHIEVE A SALES REVENUE IN RANGE OF CHF 530-580
MILLION AND AN OPERATING PROFIT MARGIN BETWEEN 9-11% FOR 2021
    * WE EXPECT A TEMPORARILY REDUCED DEMAND FOR CHINA IN 2021
AS A
RESULT OF EXPIRY OF CHINESE WIND FEED-IN TARIFFS BY YEAR-END
2020
    * WE ANTICIPATE A REBOUND OF MARINE AND INDUSTRIAL MARKETS
IN 2021
ON AND ABOVE PRE-COVID LEVELS

Source text for Eikon:  ID:nEQ7Y3mDVa 
Further company coverage:  GUR.S 

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