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    EXL1V   FI0009007306

EXEL COMPOSITES OYJ

(EXL1V)
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Exel Composites Oyj : lowers its guidance concerning adjusted operating profit in 2021

09/16/2021 | 08:46am EDT

EXEL COMPOSITES PLC      INSIDE INFORMATION      16 SEPTEMBER  2021 at 15:45 EET

Exel Composites lowers its previously published guidance concerning adjusted operating profit for the full year 2021, which the company now expects to decrease compared to 2020. At the same time, the company raises its guidance concerning revenue, which is now expected to increase significantly compared to 2020. Previously, the company expected both revenue and adjusted operating profit to increase compared to 2020.

"Exel's order intake and revenue have increased significantly during this year and we have reached record high levels. Our profitability however is impaired due to the combined negative impact of a few factors. Firstly, raw material availability has weakened, and both material as well as logistics costs have increased.  At the same time, during the ramp-up of certain high volume carbonfiber products in the Wind Power customer industry, profit margins have been low. Improving operational efficiency and profitability are top priorities for us, and all our efforts are focused on these. We expect the situation to improve towards the end of the year and to be back on track in 2022", says Riku Kytömäki, President and CEO.

The updated guidance:

"Exel Composites expects revenue in 2021 to increase significantly compared to 2020 and adjusted operating profit to decrease compared to 2020."

The previous guidance: 

"Exel Composites expects revenue and adjusted operating profit in 2021 to increase compared to 2020."

Exel Composites publishes its Business Review for January-September 2021 on Thursday 4 November 2021 at approximately 09:00 EET.

Vantaa, 16 September 2021

Exel Composites Plc
Riku Kytömäki, President and CEO

For further information, please contact:
Riku Kytömäki, President and CEO 
tel. +358 50 511 8288 
riku.kytomaki@exelcomposites.com

Mikko Kettunen, CFO 
tel. +358 50 347 7462 
mikko.kettunen@exelcomposites.com

Distribution
Nasdaq Helsinki Ltd 
Main news media 
www.exelcomposites.com

Exel Composites in brief

At Exel Composites, we use over 60 years' experience to solve challenges and help customers save resources. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications from wind power and transportation to building and infrastructure.  

Our collaborative approach and global footprint set us apart from our competition. We use our expertise to help customers reduce weight, improve performance and energy efficiency and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally. 

Headquartered in Finland, Exel Composites employs approximately 650 forward-thinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit www.exelcomposites.com.  

https://news.cision.com/exel-composites/r/exel-composites-lowers-its-guidance-concerning-adjusted-operating-profit-in-2021,c3416561

https://mb.cision.com/Main/15551/3416561/1469272.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 126 M 146 M 146 M
Net income 2021 6,05 M 7,01 M 7,01 M
Net Debt 2021 29,0 M 33,6 M 33,6 M
P/E ratio 2021 15,6x
Yield 2021 2,99%
Capitalization 93,5 M 108 M 108 M
EV / Sales 2021 0,98x
EV / Sales 2022 0,88x
Nbr of Employees 722
Free-Float 91,7%
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Number of Analysts 2
Last Close Price 7,86 €
Average target price 9,75 €
Spread / Average Target 24,0%
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Riku Kyt÷mńki President & Chief Executive Officer
Mikko Johannes Kettunen Chief Financial Officer
Reima Seppo Ilmari Kerttula Chairman
Kim Sj÷dahl Senior VP-Research & Development & Technology
Callum Gough Senior Vice President-Operations
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