CORRECTION: Exel Composites publishes a restated Half-year Financial Report January–June 2017

EXEL COMPOSITES PLC    HALF-YEAR FINANCIAL REPORT   19 OCTOBER 2017 at 15:45 EET

Exel Composites restates its January-June Half-Year Financial Report 2017 published on 20 July 2017 due to an error in classification of interest-bearing and non-interest bearing liabilities. The correction impacts balance sheet and cash flow items presented in the table below. The restatement does not change the published income statement. The restated Half-Year Financial Report is attached to this release.

Q2/H1 2017 IN BRIEF AND CONSOLIDATED KEY FIGURES
EUR thousand 1.4.–30.6.2017 1.1–30.6.2017
Net cash flow from operating activities 929 81
Return on capital employed, % 14.5 15.6
Net gearing, % 36.7 36.7

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
EUR thousand 30.6.2017
Current liabilities
Interest-bearing liabilities 14,044
Trade and other non-current liabilities 20,592

CONSOLIDATED STATEMENT OF CASH FLOWS
EUR thousand 1.1–30.6.2017
Change in working capital -4,456
Net cash flow from operating activities 81
Acquisition of subsidiaries -4,191
Cash flow from investing activities -5,733
Cash flow before financing activities -5,652
Change in short-term loans 6,491
Net cash flow from financing activities 4,801

CONSOLIDATED KEY FIGURES
EUR thousand 1.4.–30.6.2017 1.1–30.6.2017
Interest-bearing liabilities 16,141 16,141
Net interest-bearing liabilities 10,048 10,048
Capital employed 43,530 43,530
Return on capital employed, % 14.5 15.6
Net gearing, % 36.7 36.7

Vantaa, 19 October 2017

Exel Composites Plc

Riku Kytömäki, President and CEO
Mikko Kettunen, CFO

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 personnel’s expertise and high level of technology play a major role in Exel Composites’ operations. Exel Composites Plc share is listed in Nasdaq Helsinki Ltd.

About Us

Exel Composites is the world’s leading composite technology company that engineers and manufactures composite products and solutions to an extensive range of demanding industrial applications. The core of the business is based on the employees’ high level of expertise and own, internally developed composite technologies, which have been perfected over decades with a steady focus on innovation. With nine manufacturing plants across Europe, Asia, and North America, and a global sales network, Exel Composites is firmly driven by superior customer experience and world-class operations. Headquartered in Finland, Exel Composites employs approximately 650 people globally. The company’s shares are listed on the Nasdaq Helsinki exchange. www.exelcomposites.com