Switzerland-based Gurit announced it achieved double-digit sales growth in 2011.
Marine sales contributed 15.1 percent to group sales, and revenue grew by 8.1 percent on a currency-adjusted basis and declined by 2.8 percent in reported Swiss francs, to 52.1 million francs, mainly backed by growth generated in the United States and Europe. Sales in Australia declined because of the exchange rate development of the Australian dollar, the company said.
In 2011, the operational earnings-before-interest-and-taxes margin level of the marine business was below the group’s operational EBIT margin level.
In 2012, Gurit sees further organic growth potential across all market areas and plans to achieve an operational EBIT in the guidance range of 8 to 10 percent.