Earnings release
Page 1
Page 1 of 3 Media release GURIT RAISES SALES AND PROFIT GUIDANCE FOLLOWING STRONG H1 2026; VIKTOR BERNHARDT APPOINTED GROUP CEO Zurich, August 26, 2026 – Ad hoc announcement pursuant to Art. 53 LR Gurit (SIX Swiss Exchange: GURN) reported unaudited net sales of CHF 153.9 million for the first half of 2026. Net sales from continuing operations at constant exchange rates increased by 16.0% to CHF 152.4 million, with growth across all three business units. The adjusted operating profit margin increased to 11.0% (unadjusted: 11.6%), from 5.7% (unadjusted: -35.4%) in the prior -year period. Encouraged by these results, Gurit raised its full-year guidance for sales growth and adjusted operating profit margin. Organizational Update On July 23, 2026, Viktor Bernhardt was appointed interim Group Chief Executive Officer following the resignation of Dr. Tobias Lührig. After reviewing the Group's leadership requirements and future priorities, the Board of Directors concluded that Gurit's next phase of development would benefit from a leader with a strong combination of financial expertise, operational discipline, and proven business leadership. Accordingly, on August 25, 2026, the Board of Directors appointed Viktor Bernhardt as Group Chief Executive Officer on a permanent basis. The Board is confident that, together with the Executive Committee and in close collaboration with the Board of Direct ors, he will continue to build on the progress achieved in recent years and support Gurit's next phase of development. The search for a Group Chief Financial Officer will commence immediately. Until a successor is appointed, Viktor Bernhardt will continue to oversee the Group's finance function, supported by the existing finance leadership team. Wind Materials Net sales from continuing operations at constant exchange rates increased by 9.6% compared with the first half of 2025 to CHF 82.9 million . Growth exceeded expectations, driven by the accelerated production of major OEMs of onshore turbines, together with the ramp-up of offshore facilities. During the period, Gurit further strengthened its position with key customers through long -term partnerships, supply chain reliability, and close operational proximity. Supported by its leading market position and custome r relationships, the segment is well positioned to benefit from the long -term growth fundamentals of the wind industry. Manufacturing Solutions Net sales at constant exchange rates increased by 69.3% versus prior-year period to CHF 23.9 million. The strong increase was driven by higher customer activity, particularly in India, enabled by successfu l establishment of the local manufacturing footprint and an effective project execution across the business. Based on its order backlog and current customer demand, Manufacturing Solutions expects continued momentum in the second half of 2026. Marine & Industrial Net sales at constant exchange rates grew by 9.2% to CHF 45.7 million. Growth was driven by the Subsea business, increased adoption of recycled PET foam solutions and broader penetration of industrial applications. During the first half of 2026 Gurit expanded production capabilities in Australia and the United States and progressed with customer qualifications for Corecell S foam. While certain marine end markets remained subdued , Gurit expects higher contributions from new applications and its qualification pipeline in the second half of 2026.
Page 2
Page 2 of 3 Strategic Priorities Gurit’s priorities are profitable growth, execution of its multi -market strategy and continued operational improvement. Following the strategic realignment completed in 2025, the Group operates with a more focused portfolio and a lower cost base. Supply Chain Gurit maintained uninterrupted customer deliver y reliability during the first half of 2026 despite continued challenges in global raw material and logistics markets . Higher raw material, freight and energy costs were mitigated through procurement measures, supply chain optimization and pricing actions. U.S. Tariffs The U.S. tariff environment continues to evolve dynamically , creating additional complexity for international trade flows during the period. Gurit actively manages this situation by closely monitoring regulatory developments and by pursuing mitigation measures. In its forecasts, the Company has factored in a negative impact from the announced 50% tariff on imports from Canada into the United States, even though the scope and actual implementation of this tariff remain uncertain at this stage. Sustainability Journey – Delivering on ESG During the first half of 2026, Gurit continued to make progress towards its greenhouse gas reduction targets through focused energy efficiency initiatives across its global operations. Gurit also entered a partnership with Innofibre to explore the development of bio -based epoxy resins using waste materials from the paper industry. Profitability The adjusted operating result increased to CHF 16.9 million (unadjusted: CHF 17.8 million), correspondin g to a margin of 11.0% (unadjusted: 11.6%), compared with CHF 9.3 million (unadjusted: CHF -58.4 million) and 5.7% (unadjusted: -35.4%) in the first half of 2025. The improvement was driven by profitable growth, portfolio optimization and the lower cost base following the transformation program. Cash Flow and Balance Sheet Net cash inflow from operating activities was CHF 3.6 million, compared with an outflow of CHF 9.9 million in the prior -year period. The improvement reflected higher profitability and the absence of restructuring -related cash outflows incurred in the first half of 2025, partly offset by higher net working capital, mainly inventories. Capital expenditure amounted to CHF 4.8 million, compared with CHF 3.8 million in H1 2025 , and primarily comprised targeted projects to support capacity requirements and improve operational efficiency.
Page 3
Page 3 of 3 As of June 30, 2026, net debt was CHF 4.2 million higher than at year -end 2025, following the deferred cash payment related to the acquisition of Fiberline Composite A/S. Compared with June 30, 2025, net debt decreased by CHF 20.1 million. Outlook Guidance for net sales growth from continuing operations at constant exchange rates has been raised to 9-11% (previously: mid -single-digit growth), and the full-year adjusted operating profit margin guidance has been increased to around 10% (previously: above 8.1%). This reflects the management’s current assessment of potential geopolitical , supply chain-related, and recently announced tariff risks. These factors continue to be closely monitored, and the outlook would be updated should their impact materially exceed current assumptions. Building on the strong first half -year performance, Gurit expects continued momentum across its business in the second half of 2026. The Company benefits from its multi- market strategy, a strengthened competitive position, and a structurally improved cost base after the strategic realignment completed in 2025. Supporte d by its strengthened market positions and diversified business portfolio, Gurit remains confident in its long -term strategy and reiterates its ambition to sustainably achieve an operating profit margin of 10% or above. Online Publication of Half -Year Results and Media/Analyst Online Conference On Wednesday, August 26 , 2026 , the Gurit Management will discuss the results of the first half -year 2026 interim report in a public webcast at 09:00 AM CEST. The presentation will be held in English and is accessible at https://www.gurit.com/presentations/. An archived version will later be made available on the same link. The half -year report 2026 is available for download under the following link: https://www.gurit.com/reports-and- publications/ . About Gurit The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GURN) are specialized in the development and manufacture of advanced composite materials, composite tooling equipment and core kitting services. The product range compris es st ructural core materials, structural profiles, prepregs, formulated products such as adhesives and resins as well as structural composite engineering. Gurit supplies global growth markets such as the wind turbine industry, marine, building and many more. Gur it operates production sites and offices in Australia, Canada, China, Denmark, Ecuador, India, Mexico, New Zealand, Poland, Spain, Switzerland, United Kingdom, and the United States. w w w .gur it.c om Gurit Group Communications Phone: +41 79 722 84 71, e -mail: investor (at) gurit.com All trademarks used or mentioned in this release are protected by law. Forward-looking statem ents: To the extent that this announcement contains forward- looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward- looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward- looking statements contained in this announcement.