Gurit (GURN) Q1 2026 TU earnings summary

Executive summary

• Net sales for Q1 2026 reached CHF 75.9 million, up 25.1% at constant exchange rates in continued operations compared to Q1 2025.

• Strong momentum in Wind driven by Western OEM demand and accelerated order intake.

• Manufacturing Solutions showed resilience despite some customer delays in non-Wind activities.

• Marine & Industrial advanced new PET markets and Subsea projects, though Marine end-market remained subdued.

• Organizational structural measures from 2025 continue to support multi-market strategy and growth.

Financial highlights

• Net sales in continued operations increased 25.1% at constant exchange rates year-over-year.

• Including discontinued operations, net sales decreased by 10.9% in reported CHF and 2.2% at constant exchange rates year-over-year.

• Wind Materials net sales: CHF 40.5 million, up 17.4% at constant exchange rates year-over-year.

• Manufacturing Solutions net sales: CHF 12.6 million, up 129.3% at constant exchange rates year-over-year.

• Marine & Industrial net sales: CHF 21.9 million, up 9.1% at constant exchange rates year-over-year.

Outlook and guidance

• Current guidance confirmed as supply chain and demand impacts from Middle East crisis remain limited.

• Guidance will be reassessed if geopolitical situation escalates or becomes prolonged.

• Manufacturing Solutions expected to deliver profitable growth in 2026, though WASP ramp-up slower due to regulatory delays.

• Marine & Industrial outlook for Q2 remains cautious due to geopolitical uncertainty affecting boat demand.