H1 expected to be soft
Exel published a Q4 report that was softer than our expectations in terms of revenue and EBIT. In connection with the report, Exel issued its guidance for the current year, which is quite well in line with our pre-report expectations. However, in light of comments, H1’23 will be soft, which means the company will have some catching up to do in H2. Based on the guidance and company comments our operational estimate changes were minor.
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 Figures19.02.2023
2022 | 23e | 24e | |
---|---|---|---|
Revenue | 137.0 | 134.8 | 145.0 |
growth-% | 1.95 % | -1.56 % | 7.51 % |
EBIT (adj.) | 8.0 | 8.7 | 10.4 |
EBIT-% (adj.) | 5.86 % | 6.48 % | 7.18 % |
EPS (adj.) | 0.61 | 0.45 | 0.53 |
Dividend | 0.20 | 0.22 | 0.23 |
Dividend % | 15.55 % | 56.12 % | 58.67 % |
P/E (adj.) | 2.09 | 0.88 | 0.74 |
EV/EBITDA | 4.58 | 1.93 | 1.90 |