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.