ADJUSTED OPERATING PROFIT ALMOST TRIPLED IN Q3 2017 · ² Revenue by customer segments Q1-Q3 2017...
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Exel Composites
January – September
2017
Business Review
25 October 2017
ADJUSTED OPERATING PROFIT ALMOST
TRIPLED IN Q3 2017
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Exel Composites 2
• Business environment– Revenue growth in all regions and
customers segments: APAC region and
Industrial Applications drove increase
– General market recovery, despite some
prevailing uncertainties, supported the
increase in business volumes
• Operations– Increased topline, APAC business
reorganization, operational efficiency
and continued tight cost control
improved operating profit
– Newly acquired Nanjing Jianhui
performed according to expectations,
and made a substantial contribution to
the third quarter revenue
– Downsizing of Australian unit
progresses, production expected to
cease by end of 2017
• Financial performance– Significant improvements in both
quarterly revenue and operating profit
Q3 2017 in brief
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Exel Composites 3
21.5 17.9 20.3
21.419.7
23.2
18.016.4
20.4
19.319.0
Q1-Q42015
Q1-Q42016
Q1-Q32017
Revenue, EUR million
2.0
0.1
1.7
1.5
1.2
1.7
0.5
0.6
1.60.7
0.7
Q1-Q42015
Q1-Q42016
Q1-Q32017
Adjusted operating profit, EUR million
22.8 18.0 22.5
21.420.2
23.4
18.718.2
19.3
20.518.3
Q1-Q42015
Q1-Q42016
Q1-Q32017
Order intake, EUR million
0.7
-0.9 -0.8
1.7
0.3 0.9
0.5
2.52.1
0.51.2
Q1-Q42015
Q1-Q42016
Q1-Q32017
Net cash flow, EUR million
Q3 2017 highlights
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Exel Composites 4
EUR thousand
1.1.-30.9.
2017
1.1.-30.9.
2016
Change,
%
1.1.-31.12.
2016
Order intake 65,098 56,532 15.2 74,778
Order backlog ¹ 18,197 17,428 4.4 16,702
Revenue ² 63,841 54,070 18.1 73,079
Operating profit 4,693 1,858 152.6 649
% of revenue 7.4 3.4 0.9
Adjusted operating profit ³ 4,992 1,912 161.1 2,621
% of revenue 7.8 3.5 3.6
Profit for the period 3,256 1,263 157.7 198
Net cash flow from operating
activities2,148 1,972 8.9 3,129
Return on capital employed, % 15.2 6.3 1.7
Net gearing, % 33.5 13.2 12.2
Earnings per share 0.27 0.11 0.02
Equity per share, EUR 2.34 2.36 -1.0 2.27
Key figures Q1-Q3 2017
¹ As per the end of the period.² Revenue by customer segments Q1-Q3 2017 (Q1-Q3 2016): Industrial applications EUR 36.4 million (29.0); Construction & infrastructure EUR 14.6 million (13.3); Other applications EUR 12.9 million (11.8).³ Excluding material items affecting comparability, such as restructuring costs, impairment losses and reversals, and costs related to planned or realized business acquisitions or disposals. For more information, please refer to the paragraph “Change in Exel Composites’ financial reporting terminology” of the Half-year Financial Report published on 21 July 2016.
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Exel Composites 5
EUR thousand
1.7.-30.9.
2017
1.7.-30.9.
2016
Change,
%
1.1.-31.12.
2016
Order intake 19,258 18,181 5.9 74,778
Order backlog ¹ 18,197 17,428 4.4 16,702
Revenue ² 20,394 16,431 24.1 73,079
Operating profit 1,549 565 174.1 649
% of revenue 7.6 3.4 0.9
Adjusted operating profit ³ 1,605 596 169.3 2,621
% of revenue 7.9 3.6 3.6
Profit for the period 1,089 384 184.0 198
Net cash flow from operating
activities2,067 2,492 -17.1 3,129
Return on capital employed, % 14.0 5.6 1.7
Net gearing, % 33.5 13.2 12.2
Earnings per share 0.09 0.03 0.02
Equity per share, EUR 2.34 2.36 -0.7 2.27
Key figures Q3 2017
¹ As per the end of the period.² Revenue by customer segments Q3 2017 (Q3 2016): Industrial applications EUR 11.1 million (8.7); Construction & infrastructure EUR 5.6 million (4.2); Other applications EUR 3.7 million (3.5).³ Excluding material items affecting comparability, such as restructuring costs, impairment losses and reversals, and costs related to planned or realized business acquisitions or disposals. For more information, please refer to the paragraph “Change in Exel Composites’ financial reporting terminology” of the Half-year Financial Report published on 21 July 2016.
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Exel Composites 6
Significant revenue improvement
in Q3, order backlog at 18.2 MEUR
0
5
10
15
20
25
0
5
10
15
20
25
Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3
2013 2014 2015 2016 2017
Revenue, EUR million
Order backlog, EUR million, end of period
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Exel Composites 7
Industrial Applications continued to
drive the revenue increase
Transportation Industry
Telecommuni-
cation
MachineIndustry
PaperIndustry
ElectricalIndustry
Cleaning & Maintenance
Sports & Leisure
Other Industries
Building,
Construction &
Infrastructure
EnergyIndustry
Construction &
InfrastructureOther
Applications
Industrial Applications
29.0 36.4
13.3
14.6 11.8
12.9
0
10
20
30
40
50
60
70
Q1-Q3 2016 Q1-Q3 2017
Revenue, EUR million
Other Applications
Construction & Infrastructure
Industrial Applications
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Exel Composites 8
Operating profit improved significantly due to
increased topline, APAC business reorganization,
operational efficiency and continued tight cost control
0%
10%
20%
0
1
2
3
4
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2014 2015 2016 2017
Adjusted operating profit, EUR millionAdjusted operating profit margin, %Operating profit target, %
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Exel Composites 9
0
20
40
60
0%
10%
20%
30%
2014 2015 2016 Q1-Q3 2017
Capital employed, MEUR ROCE, %
ROCE continued to improve, being
at 15.2% after nine months
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Exel Composites 10
Accelerate
growth in
China
Protect and grow
our stronghold
customersProviding competitive
edge and best
customer service
Create
true
global
footprint
New
composite
technologies
Penetrate
new
applications
Our strategy delivers
• Increased topline; revenue
growth in all of Exel’s regions
and customer segments
• APAC business
reorganization, including
downsizing of Australian unit
• Nanjing Jianhui performing
according to our expectations
• Continued focus on
operational efficiency and tight
cost control
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Exel Composites 11
• Exel Composites estimates
that both revenue and
operating profit will
increase significantly from
the 2016 level.
Outlook for 2017
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Exel Composites 12
Your IR contacts
Riku Kytömäki
President and CEO
+358 50 511 8288
Mikko Kettunen
CFO
+358 50 3477 462
Noora Koikkalainen
IR Manager
+358 50 562 6552
www.exelcomposites.com
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Exel Composites
