Exel Composites Q2/2015 sales remain on Q1/2015 level – full year outlook unchanged
EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 18.6.2015 at 9.15 a.m.
Exel Composites Q2/2015 sales remain on Q1/2015 level – full year outlook unchanged
Exel Composites has recorded consistent sales and profit growth year-on-year during the last consecutive five quarters. However, in the second quarter of 2015 sales are expected to remain approximately on the same level as first quarter of 2015, whilst operating profit margin is estimated to be lower than in the first quarter of 2015 due to higher operational costs, primarily relating to the implementation of the long-term growth strategy.
CEO Riku Kytömäki says: In the second quarter of 2015, orders from some customers are delayed and this will impact profitability. The Company has taken further actions to control costs and to drive sales.
The Company’s outlook for the whole year still remains unchanged: The market has stabilized and we can see positive signs in the Company’s key market segments. However, uncertainties relating to general growth prospects in the economy continue. The Company implements its new strategy by reinforcing the organization, especially in sales resources, product development and operations development and by increasing its capacity. These efforts are expected to reduce the 2015 operating profit margin compared to 2014, but will position the Company better for long-term profitable growth.
Vantaa, 18 June 2015
EXEL COMPOSITES PLC
Riku Kytömäki
President and CEO
Further information
Riku Kytömäki, President and CEO, tel. +358 50 511 8288, or email riku.kytomaki@exelcomposites.com
Mikko Kettunen, CFO, tel. +358 50 3477 462, or email mikko.kettunen@exelcomposites.com
Distribution
NASDAQ OMX 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 OMX Helsinki Ltd.