Gurit Holding Ag · SIX:GURN
Gurit — FY2024 Earnings Presentation
21 slides from Gurit's earnings presentation, Mar 3, 2025
Slide 1: Gurit FY 2024 Results
Gurit FY 2024 Results Media and Analyst Conference 3 March 2025 at 09:00 AM CET
Slide 2: Introductory Statement
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 stateme
Slide 3: Business Update
Business Update Philippe Royer, Chairman Global leader in performance materials empowering our customers’ energy-efficient solutions Gurit FY24 Presentation 03/03/2025 3
Slide 4: 2024
2024 Lower sales in Wind, focus on profitable geographies Marine & Industrial volumes growing, end of some legacy sales (auto) Adjusted operating profit margin up 50% Wind footprint being resized Marine & Industry offering and footprint expanded General and administration costs decreased
Slide 5: 2025
2025 Continue to focus Wind sales on strategic markets and customers Deploy optimization tool to Wind customers, improved process to Wind plants Discontinuation of carbon fiber pultrusion, restructurings completion in H1 Start deliver recycled PET to new industrial segments Increase specia
Slide 6: Post 2025
Post 2025 Accessible Wind volumes growing 3% to 5% p.a. Marine and Industrial markets growing low single digit, sales increasing faster thanks to new foams and product substitution Refocused, lean and flexible organization R&D teams repositioned Targeting 10% operating profit margin in a s
Slide 7: 2024 Financial Results
2024 Financial Results Javier Perez-Freije, CEO ad interim & CFO Global leader in performance materials empowering our customers’ energy-efficient solutions
Slide 8: FY 2024 Highlights
FY 2024 Highlights Sales in CHFm Free cash flow in CHFm Sales impacted by the focus on Wind profitable 431.7 4.4 markets. Gurit underwent a strategic realignment in -2.9% 1) vs. 2023 27.2 in 2023 response. Rebalanced investments between market sectors. Adj. operating profit margin Net debt in
Slide 9: Net Sales Development
Net Sales Development Wind Materials Man. Solutions Marine & Industrial Group - 3.4% -8.7% +1.6% -2.9% mCHF mCHF mCHF mCHF 500 300 300 300 400 250 250 250 200 200 200 300 150 150 150 200 100 100 100 100 50 50 50 0 0 0 0 FY 23 FY 24 FY 23 FY 24 FY 23 FY 24 FY 23 FY 24 Structural Profiles Sales gr
Slide 10: Margins significantly improved
Margins significantly improved mCHF 2024 2023 Sales 431.7 459.9 Sales decreased 2.9% at constant exchange rates Growth -6.1% Gross profit 80.2 74.8 Increased gross profit margin shows improved % of sales 18.6% 16.3% resilience of operations Excludes restructuring and impairment charges Adj. op
Slide 11: Adjusted Operating Profit
Adjusted Operating Profit mCHF Gurit FY24 Presentation 03/03/2025 11 Gurit Secret
Slide 12: Improved cash flow discipline
Improved cash flow discipline Trade Net Working Capital CAPEX Free Cash Flow 30% 250 30 27.2 30 25% 200 20.5% 25 19.9% 20% 20 150 20 15% 94.4 15 85.9 100 11.3 10.5 10% 10 10 5% 50 4.4 5 0% 0 0 0 2023 2024 2023 2024 2023 2024 NWC (LTM) in % of Net Sales (LTM) Focus to further optimize NWC is Inve
Slide 13: Building Resilience: Temporary Impact, long-term Value
Building Resilience: Temporary Impact, long-term Value Dec Dec CHF million 2024 2023 Net debt 62.7 59.9 Change +2.8 Equity 60.4 78.7 Impacted by restructuring and Impairment Change -18.3 charges Net debt / adjusted EBITDA ratio amounts to Net debt / EBITDA 2.5x 1.7x 1.4x Change +0.8x Adjusted
Slide 14: Financing Secured
Financing Secured We signed a Term Loan and Revolving Credit Facility for CHF 120 000 000. With this unsecured committed facility, we have successfully refinanced our bilateral credit facilities ahead of the maturity date December 31, 2025. Gurit FY24 Presentation 03/03/2025 14 Gurit Secret
Slide 15: Western Wind markets expected to grow from 2025 onwards
Western Wind markets are expected to grow from 2025 onwards, but short-term uncertainty prevails Onshore Wind Onshore (GW) Offshore (GW) China’s onshore wind stabilizing at 65-72 GW +14%* 63 annually, while Europe & the U.S. continue steady 56 +18%* expansion, supported by incentives & supportive
Slide 16: Positive Lightweighting Markets Outlook
Positive Lightweighting Markets Outlook Marine and Industry market environment: Marine market continues to grow across all regions Strong demand for PET across all markets, in particular related to sustainability. Gurit expects to leverage strong opportunities in both sectors Focus on wider Ma
Slide 17: Sustainability Highlights 2024
Sustainability Highlights 2024 Local Community awarded to Gurit Magog (Canada) Resource Utilization awarded to Gurit Chennai (India) As voted for by Gurit employees Ten sites recognized for efforts in renewable energy sourcing Gurit FY24 Presentation 03/03/2025 17 Gurit Secret
Slide 18: Conclusion and Outlook
Conclusion and Outlook Conclusion Outlook Significant steps taken to right-size Adj. operating profit margin Optimizing resources and simplifying organizational Around 2024 level structure Mid-term target: Focus on accelerating growth in high value markets 10% operating profit margin
Slide 19: End of presentation / Next dates
End of presentation Thank you for joining us today! Next dates To join the Q&A, please use your 15 April: AGM Annual General dial-in credentials. Meeting & Q1 net sales media release 20 August: HY report, net sales media release, Analyst & Media Conference Contact: investor@gurit.com 23 Octobe
Slide 20: Questions & Answers
Questions & Answers To join the Q&A, please use your dial-in credentials Gurit FY24 Presentation 03/03/2025 20 Gurit Secret
Slide 21: Thank you for your attention
Thank you for your attention investor@gurit.com www.gurit.com