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Research

Exel: Eyes on the CMD

By Aapeli PursimoAnalyst
Exel Composites
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There were no major surprises in Exel's Q3 results due to the preliminary information provided in the October profit warning. As a result, we made no material operational forecast changes. There was also no change in the short-term outlook compared to the profit warning and with this, all eyes will be on the upcoming CMD (November 13). Given the current market situation, the company's earnings position and the limited room for maneuver with the balance sheet, we believe the stock's risk/return ratio will remain weak for the next 12 months.

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 Figures05.11.2023

202223e24e
Revenue137.0100.9109.0
growth-%1.9 %-26.3 %8.0 %
EBIT (adj.)8.0-0.83.3
EBIT-% (adj.)5.9 %-0.8 %3.0 %
EPS (adj.)0.15-0.070.02
Dividend0.050.000.00
Dividend %3.7 %
P/E (adj.)8.8neg.20.8
EV/EBITDA9.48.85.3

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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