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Research

Exel: Demand development key for the rest of the year

By Aapeli PursimoAnalyst
Exel Composites
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Exel reported a weaker-than-expected Q3 report with revenue and operating profit below our estimates. In the report, the company reiterated its guidance for the current year and sees no reason to change it at this time, which was disappointing given our expectations prior to the report. In light of this and the prevailing uncertainty, we made negative changes to our estimates for the coming years.

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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 Figures03.11.2022

202122e23e
Revenue134.4139.9136.2
growth-%23.7 %4.1 %-2.7 %
EBIT (adj.)6.09.09.1
EBIT-% (adj.)4.5 %6.4 %6.7 %
EPS (adj.)0.070.180.11
Dividend0.050.050.06
Dividend %2.5 %13.2 %14.4 %
P/E (adj.)27.52.23.7
EV/EBITDA11.22.83.2

Forum discussions

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
Exel Composites CEO Paul Sohlberg was interviewed by Aapeli. Inderes Exel Composites Q3'25: Tilaukset kasvussa - Inderes Aika: 06.11.2025 klo...
11/6/2025, 4:19 PM
by Sijoittaja-alokas
8
It’s a shame that deal with KONE wasn’t elaborated on more, just thinking about the size differences between this and de angel.
11/6/2025, 3:11 PM
by RationalBull
2
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