EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 23 April 2018
at 16:25 EET
Exel Composites Plc announced today the acquisition of Diversified Structural
Composites (“DSC”), with revenue for the fiscal year 2017, ended in March 2018,
of USD 19 million and an operating loss close to USD one million. Restructuring
initiatives since 2015 have progressively improved DSC’s profitability and
breakeven profitability is expected to be reached in 2019.
As a result of the DSC acquisition, Exel Composites revises its outlook for
2018.
The revised outlook for the full year 2018 is:
“Exel Composites expects revenue to increase significantly and adjusted
operating profit to increase in 2018 compared to 2017.”
The previous outlook was:
“Exel Composites expects revenue as well as adjusted operating profit to
increase in 2018 compared to 2017.”
Exel Composites publishes its Business Review for January-March 2018 on
Wednesday 9 May 2018 at approximately 09:00 EET.
Vantaa, 23 April 2018
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
Exel Composites (www.exelcomposites.com) is a leading composite technology
company that designs, manufactures and markets composite products and solutions
for demanding applications. Exel Composites provides superior customer
experience through continuous innovation, world-class operations and long-term
partnerships.
The core of the operations is based on own, internally developed composite
technology, product range based on it and strong market position in selected
segments with a strong quality and brand image. Profitable growth is pursued by
a relentless search for new applications and development in co-operation with
customers. The employees' expertise and high level of technology play a major
role in Exel Composites’ operations. Exel Composites Plc share is listed in
Nasdaq Helsinki Ltd.