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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

0.63EUR2023-11-03 18:00
0.593EURTarget price
Reduce
Changed from:Sell
Recommendation updated:2023-11-05

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 page

Key Estimate Figures2023-11-05

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.)8.8-20.0
EV/EBITDA9.48.75.2
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