Exel Composites Plc revises its outlook for 2018
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
President and CEO
For further information, please contact:
Riku Kytömäki, President and CEO
tel. +358 50 511 8288
Mikko Kettunen, CFO
tel. +358 50 347 7462
Nasdaq Helsinki Ltd
Main news media
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.