EXEL COMPOSITES PLC’S INTERIM REPORT FOR JANUARY 1 - MARCH 31, 2010

January-March 2010 highlights and outlook

- Net sales from continuing operations was EUR 15.7 (18.5) million in the first quarter of 2010, down by 15.4 per cent on the previous year
- Operating profit from continuing operations was EUR 1.0 million in the first quarter of 2010 compared to EUR 2.0 million in the first quarter of 2009, or 6.3 (10.8) per cent of net sales
- Net operative cash flow was positive at EUR +0.8 (+3.0) million
- Fully diluted earnings per share were EUR 0.06 (0.14), of which continuing operations accounted for EUR 0.06 (0.13)
- Due to the market uncertainty and poor visibility, Exel Composites will not give any profit guidance



Vesa Korpimies, President and CEO:

“The market situation continued to be difficult during the first quarter of 2010, and sales decreased with 15.4 per cent from the first quarter of 2009 and 3.6 per cent from the last quarter of 2009. The first two months of...