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Research

Exel Composites: Tightening the screw

Exel Composites
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Yesterday, Exel published its Q4 report. Growth was strong, but known drawbacks made performance difficult. This year, Exel starts out in an acceptable position and if the performance is straightened out the share is not impossibly priced. However, the uncertainty surrounding the performance leap is still high, and therefore we do not feel the annual risk-adjusted expected return is high enough.

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Exel Composites is a manufacturing company. The company manufactures and markets composites used in demanding industrial environments. In addition to its core business, lamination and extrusion are also performed. The largest operations are found around Europe and Asia with customers in the manufacturing and aerospace industries. Exel Composites was founded in 1960 and is headquartered in Vantaa.

Read more on company page

Key Estimate Figures16.02.2022

202122e23e
Revenue134.4135.0140.4
growth-%23.7 %0.5 %4.0 %
EBIT (adj.)6.08.210.5
EBIT-% (adj.)4.5 %6.1 %7.4 %
EPS (adj.)0.070.110.14
Dividend0.050.050.06
Dividend %2.5 %12.9 %14.0 %
P/E (adj.)27.53.82.9
EV/EBITDA14.83.83.0

Forum discussions

There’s a bit of upward pressure in the forecasts now. Interesting to see if this finally starts to translate into the EPS line next year.
21 hours ago
by TitoK
6
Good morning, forum members! More good news for the end of the year, even more composite cores are heading to Italy. https://www.inderes.fi/...
22 hours ago
by Lauri Haavisto
19
Interesting. We’ll find out next week. Wild guess: Aktia wanted to lighten its position and Erkki bought.
11/28/2025, 8:15 AM
by Mikko Marttinen
2
Did I see correctly that there was a 600k block trade on Exel today? Is there any information about this?
11/27/2025, 10:29 AM
by RationalBull
3
Muoviteollisuus ry LMS: Paluu tulevaisuuteen - Muoviteollisuus ry Vuoden 2025 LMS: Paluu tulevaisuuteen It must have been quite an interesting...
11/18/2025, 9:16 AM
by RationalBull
2
Tekniikka&Talous – 17 Nov 25 Tuulivoimajätti jakelee potkuja – 900 joutuu lähtemään Tekniikka&Talous tarjoaa oivalluksia, näköaloja ja hyötytietoa...
11/17/2025, 1:09 PM
by RationalBull
1
Aapeli, as a diligent fellow, has prepared a new company report on Exel. Exel’s Q3 operational development was well in line with our expectations...
11/7/2025, 7:46 AM
by Sijoittaja-alokas
8
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