Exel: Slow progress in a sluggish market
Exel's Q4 figures were consistently below our forecasts, while the guidance for this year, indicating revenue growth and a significant increase in operating profit, was in line with our expectations. Therefore, we made only minor operational forecast changes for the next few years. However, given the still weak market outlook and the company's challenging balance sheet situation, we believe that the stock's risk/reward ratio will remain weak over the next 12 months.
Exel Composites
Exel Composites is a manufacturing company. The company manufactures and markets compound composites that are used in demanding industrial environments. In addition to the main business, lamination and extrusion are also performed. The largest presence is in 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 pageKey Estimate Figures18.02
2023 | 24e | 25e | |
---|---|---|---|
Omsætning | 96,8 | 107,9 | 123,0 |
vækst-% | -29,33 % | 11,47 % | 14,00 % |
EBIT (adj.) | -2,4 | 2,3 | 5,6 |
EBIT-% (adj.) | -2,53 % | 2,17 % | 4,57 % |
EPS (adj.) | -0,56 | -0,04 | 0,17 |
Udbytte | 0,00 | 0,00 | 0,00 |
Udbytte % | |||
P/E (adj.) | - | - | 2,07 |
EV/EBITDA | 10,43 | 4,19 | 3,13 |