Gurit Holding AG (0QQR) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everybody, and welcome to the GURT H1 2025 results media and earnings conference. As said, my name is Tobias Lührig, and I'm the new CEO of GURT, and I'm pleased to be here with you today. I will focus over the next few minutes on what happened during the first half of the year, 2025, providing you with some context and background. After that, we will take a deeper dive into the financial sections. Before we move then in the Q&A session, as noted, I will return to present the outlook for GURID for the full year of 2025. We completed the restructuring of the company. We booked restructuring expenses of 40 million Swiss, of which 80 million were impairments. Due to the planned exit from the carbon fiber protrusion business, our revenue declined by 20.1% to 164.7 million. In addition to these portfolio changes, we also experienced delayed order intakes, partly driven by the uncertainty around the ongoing US tariff discussion. Javier will provide more background on this later in the presentation. Despite this headwinds, we achieved an operating profit of 9.3 million, translating into a 5.7% margin, slightly above last year's margin of 5.4%. Naturally, total profit was higher last year, mainly due to the stronger revenue base. Our main business remains the wind material segment. which generated 105 million Swiss in revenue during the first half of 2025. That translates to a decline of 22.9%. The drop primarily reflects the previous mentioned exits from the protrusion business. We continue to focus on strengthening relationships with our Western wind customers by securing long-term agreements. As highlighted in previous calls, our strategy is to concentrate on strategically important markets and key customers. Manufacturing solution generated 15.2 million, a decreas...