Swiss advanced composites developer and producer Gurit (Wattwil; www.gurit.com) has said in a preliminary announcement that it achieved unaudited sales of CHF 345m (EUR 286m) in 2011. In Swiss francs this represents a year-on-year increase of 11%, at constant December 2011 rates the rise is 23% and adjusted for currency and acquisitions it is 19%. The company said it expects operating EBIT margin in 2011 to be around 8%.

The wind energy sector made the most significant contribution to growth during the year with sales rising by almost 40% on a currency adjusted basis to EUR 197m. Growth in the second half of 2011 in the prepreg business in Europe and the Americas more than compensated for the significant market contraction in China during the period, Gurit said.

Tooling sales grew by 12% on a currency adjusted basis to CHF 43m, thanks to improved export sales. Transportation sales increased by only 1% to CHF 52m as rail applications in China and smaller aerospace sales suffered from delays. However, sales with key aerospace accounts rose in the upper single digit percentage range, the company said. Marine sales rose by 8%, reaching CHF 52m backed mainly by growth generated in the US and Europe, while sales in Australia declined because of Australian dollar exchange rate development.

The company will publish its full annual results on 16 March 2012.