Gibraltar has lifted its revenue outlook by 30pc to $1.3-1.35bn in 2021 from $1.03bn in 2020. Adjusted operating income is anticipated to increase to $149-157mn in 2021 compared to $116.8mn in 2020.
The company’s strategic priorities in 2021 include scaling the renewables division, integrating acquisitions, and proactively optimizing the supply chain to control input cost inflation in steel, aluminum, and resin.
Revenue in H1 2021 rose by 35.1pc to $636mn against $470.6mn in the same year-ago period. Adjusted operating income in the first half of the year grew by 16.8pc to $57.6mn against $49.3mn in the same period a year ago.
In Q2 2021, revenues were up by 36.2pc to $348.4mn in annual terms given the higher end product prices in the quarter.
Raw materials prices met an inflation rate of 188pc on HRC, 50pc on aluminum, and 97pc on polypropylene as transportation rates grew by 29pc since October 2020.
Gibraltar is a consumer of steel and aluminum materials for its renewable energy, residential construction, and infrastructure divisions.