Financial information

Order intake, EUR million

Q1 2025

Revenue, EUR million

Q1 2025

Adjusted operating profit, EUR million

Q1 2025

Earnings per share, EUR

Q1 2025

Employees on average

Q1 2025

Key figures 2025 vs 2024

  Q1 Q1 Change Q1-Q4
EUR thousand unless otherwise indicated 2025 2024 % 2024
Revenue 25,278 23,365 8.2 99,614
Operating profit 113 -555 120.5 -2,853
% of revenue 0.4 -2.4 -2.9
Adjusted operating profit 1) 682 -555 223.0 1,704
% of revenue 2.7 -2.4 1.7
EBITDA 1,451 905 60.4 4,246
Adjusted EBITDA 1) 2,020 905 123.2 7,624
Profit before tax -2,241 -607 -269.0 -3,778
Profit for the period -2,235 -598 -273.6 -5,027
Profit for the period excluding non-controlling interest -2,067 -539 -283.5 -4,663
% of revenue -8.2 -2.3 -4.7
Shareholders’ equity 30,666 16,725 83.4 32,337
Interest-bearing liabilities 31,793 46,148 -31.1 30,414
Cash and cash equivalents 7,692 10,207 -24.6 10,904
Net interest-bearing liabilities 24,101 35,941 -32.9 19,509
Net debt to adjusted EBITDA 2) 2.8 11.2 -75.4 2.6
Capital employed 62,459 62,873 -0.7 62,751
Return on equity, % -28.4 -13.9 -104.1 -20.1
Return on capital employed, % 0.8 -3.4 124.2 -4.3
Equity ratio, % 35.1 19.4 80.8 36.8
Net gearing, % 78.6 214.9 -63.4 60.3
Net cash flow from operating activities -3,454 -2,611 32.3 581
Net cash flow from investing activities -1,192 -432 175.9 -2,595
Capital expenditure 1,223 441 177.6 2,658
% of revenue 4.8 1.9 2.7
Research and development costs 950 1,077 -11.7 3,738
% of revenue 3.8 4.6 3.8
Order intake 34,604 28,615 20.9 104,872
Order backlog 43,291 34,893 24.1 34,177
Earnings per share, diluted and undiluted, EUR -0.02 -0.05 57.1 -0.07
Equity per share, EUR 0.28 1.39 -79.69 0.49
Average share price, EUR 0.35 2.34 -85.0 0.40
Average number of shares, diluted and undiluted, 1,000 shares 3) 106,085 11,854 794.9 63,729
Employees, average 643 623 3.3 632
Employees, end of period 640 626 2.2 637

1) Excluding material items affecting comparability, such as restructuring costs, impairment losses and reversals, and costs related to planned or realized business acquisitions or disposals
2) Last 12 months’ adjusted EBITDA
3) Exel’s rights issue completed in June 2024 increased the total number of shares from 11,896,843 to 106,728,395. Average number of shares excludes shares held by the company.

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Key figures 2018-2023

EUR thousand

2023

2022

2021

2020

2019

2018

Revenue 96,815 136,988 134,365 108,595 103,784 96,608
Operating profit -4,863 3,002 3,744 9,417 5,087 2,217
% of revenue -5.0 2.2 2.8 8.7 4.9 2.3
Adjusted operating profit 1) -2,446 8,029 6,029 9,708 7,160 5,018
% of revenue -2.5 5.9 4.5 8.9 6.9 5.2
EBITDA 3,832 10,123
Adjusted EBITDA 1) 4,059 15,149
Profit for the period -9,309 2,145 1,656 5,368 2,397 386
Profit for the period excluding non-controlling interest -9,130 2,293 1,693 5,368 2,397 386
% of revenue -9.4 1.7 1.3 4.9 2.3 0.4
Net debt to adjusted EBITDA 2) 8.1 2.1
Return on equity, % -38.7 7.0 5.5 19.5 9.2 1.4
Return on capital employed, % -6.8 3.7 4.8 14.1 8.6 4.4
Equity ratio, % 20.9 26.9 26.8 30.2 30.9 34.7
Net gearing, % 185.7 102.4 119.9 107.9 114.9 96.3
Net cash flow from operating activities 3) 4,445 6,767 6,275 14,006 9,030 868
Net cash flow from investing activities -3,076 2,018 -11,877 -12,849 -6,087 -12,779
Order intake 98,142 124,735 140,557 115,373 110,693 100,757
Order backlog 4) 29,765 29,110 41,578 36,544 30,391 23,685
Earnings per share, diluted and undiluted, EUR -0.77 0.19 0.14 0.45 0.20 0.03
Equity per share, EUR 1.47 2.53 2.58 2.44 2.23 2.18
Dividend/share, EUR 0.00 0.20 0.20 0.20 0.18 0.18
Price/earnings (P/E) 29.95 57.87 16.26 32.00 122.40
Price/book value, (P/B) 2.11 3.07 3.02 2.91 1.83
Employees, average 667 732 715 665 659 647

1) Excluding material items affecting comparability, such as restructuring costs, impairment losses and reversals, and costs related to planned or realized business acquisitions or disposals.
2) Last 12 months’ adjusted EBITDA
3) Exel Composites Plc has applied the IFRS16 -standard since 1.1.2019 according to the model where the comparative information of previous periods is not adjusted.
4) At the end of the reporting period

 

 

Download in excel 2013-2023

Financial targets

ORGANIC GROWTH PROFITABILITY FINANCIAL POSITION
Over 200 MEUR annual revenue by 2028 Adjusted operating profit margin >10% by 2028 Net debt / adjusted EBITDA* <3x by 2028

*) Last 12 months’ adjusted EBITDA

 

Financial targets are considered over a business cycle. Potential acquisitions may impact the long-term financial targets. According to the company’s dividend policy, Exel Composites’ ambition is to distribute a minimum of 40% of net income in dividends, when permitted by the financial structure and growth opportunities.

Dividend policy