Exel Oyj's Q4 performance and financial statements bulletin 2006

EXEL OYJ’S Q4 PERFORMANCE AND FINANCIAL STATEMENTS BULLETIN 2006

Summary

- Net sales for the financial year increased to EUR 112.4 (91.3) million or 23% over the previous year
- Net sales in Q4 were EUR 30.4 (21.9) million
- Operating profit for the financial year was EUR 0.4 (12.4) million, down 97%, representing 0.3% (13.6%) of net sales including EUR -6.7 million of non-recurring items
- Operating profit in Q4 was EUR 0.6 (2.2) million or 2.1% (9.9%) of net sales
- Earnings per share for the full year were EUR -0.06 (0.76)
- Net interest-bearing liabilities increased to EUR 27.5 (8.2) million, whilst net gearing rose to 112.8 % (30.2%)
- Cash flow from business operations was positive at EUR +5.2 (+7.9) million
- Exel Industry became the world’s first truly international pultrusion company when acquiring Pacific Composites and continued its profitable growth
- The development of the Sport Division was highly unsatisfactory with declining sales and a sharp drop in operating result
- The Board of Directors proposes a dividend of EUR 0.20(0.40) per share
- Exel sharpens focus on Industry and conducts a strategic review of the Sports Brands business

The bulletin can be read in its entirety in the attached PDF file.

About Us

Exel Oyj on komposiittisia urheiluvälineitä ja teollisuusprofiileja suunnitteleva, valmistava ja markkinoiva teknologiayritys. Exelin liiketoiminta muodostuu Sport- ja Teollisuus-liiketoiminnoista. Henkilöstön osaaminen ja korkea teknologian taso ovat avainasemassa Exel Oyj:n toiminnassa. Liiketoiminnan ytimen muodostaa itse kehitetty komposiittiteknologia, siihen perustuva tuotteisto ja valittujen markkinasegmenttien hallinta vahvalla laatu- ja tuotemerkki-imagolla. Jatkuva uusien sovelluskohteiden etsiminen ja kehitys yhteistyössä asiakkaiden kanssa mahdollistavat yrityksen kasvun. Exel panostaa valituille kapeille sektoreille sekä kannattavaan kasvuun. Exel Oyj is a technology company which designs, manufactures and markets composite sports equipment and industrial applications. Exel's operations comprise two divisions: Sport and Industry. The personnel's expertise and high level of technology play a major role in Exel's operations. The core of the operations is based on own, internally developed composite technology, product range based on it and the domination of selected market segments with a strong quality and brand image. The company's growth is based on permanent search of new applications and development in co-operation with customers. Exel concentrates on niche segments and on profitable growth.

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