Exel Composites confirms its strategy and long-term financial targets and introduces a target for net gearing
EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 18 JUNE 2019 at 09:00 EET
The Board of Directors of Exel Composites has confirmed the company’s strategy and long-term financial targets for 2019-2022. A new financial target related to net gearing was also introduced.
Exel Composites’ long-term financial targets are:
- Growth: Revenue growth exceeding twice the market growth
- Profitability: Adjusted operating profit margin exceeding 10%
- Capital efficiency: Return on capital employed exceeding 20%
- Financial position: Net gearing approximately at 60% or below
Financial targets are considered over a business cycle. Potential acquisitions may impact the long-term financial targets. The dividend policy remains unchanged.
Exel Composites’ overall strategic direction for 2019-2022 remains unchanged and is based on five pillars:
- Protect and grow our stronghold customers providing superior customer experience
- Build leadership in China
- Penetrate growing/ new applications
- Create true global footprint
- Grow in new technologies
Vantaa, 18 June 2019
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 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.