Financial information

Order intake, EUR million

Q4 2024

Revenue, EUR million

Q4 2024

Adjusted operating profit, EUR million

Q4 2024

Earnings per share, EUR

Q4 2024

Employees on average

Q4 2024

Key figures 2024 (2023)

EUR thousand

Q4
2024

Q4
2023

Change
%

Q1-Q4
2024

Q1-Q4
2023

Change

Revenue 25,074 22,074 13.6 99,614 96,815 2.9
Operating profit -4,077 -3,676 -10.9 -2,853 -4,863 41.3
% of revenue -16.3 -16.7 -2.9 -5.0
Adjusted operating profit 1) 177 -1,311 113.5 1,704 -2,446 169.6
% of revenue 0.7 -5.9 1.7 -2.5
EBITDA -1,453 -177 -722.1 4,246 3,832 10.8
Adjusted EBITDA 1) 1,623 -2 95771.8 7,624 4,059 87.8
Profit before tax -2,237 -5,661 60.5 -3,778 -8,254 54.2
Profit for the period -3,178 -5,597 43.2 -5,027 -9,309 46.0
Profit for the period excluding non-controlling interest -3,064 -5,566 45.0 -4,663 -9,130 48.9
% of revenue -12.2 -25.2 -4.7 -9.4
Shareholders’ equity 32,337 17,687 82.8 32,337 17,687 82.8
Interest-bearing liabilities 30,414 43,790 -30.5 30,414 43,790 -30.5
Cash and cash equivalents 10,904 10,952 -0.4 10,904 10,952 -0.4
Net interest-bearing liabilities 19,509 32,838 -40.6 19,509 32,838 -40.6
Net debt to adjusted EBITDA 2) 2.6 8.1 -68.4 2.6 8.1 -68.4
Capital employed 62,751 61,477 2.1 62,751 61,477 2.1
Return on equity, % -36.8 -108.5 66.1 -20.1 -38.7 48.1
Return on capital employed, % -24.8 -21.4 -15.7 -4.3 -6.8 36.3
Equity ratio, % 36.8 20.9 75.9 36.8 20.9 75.9
Net gearing, % 60.3 185.7 -67.5 60.3 185.7 -67.5
Net cash flow from operating activities 1,895 753 151.8 581 4,445 -86.9
Net cash flow from investing activities -1,037 -865 19.9 -2,595 -3,076 -15.6
Capital expenditure 973 815 19.4 2,658 3,523 -24.6
% of revenue 3.9 3.7 2.7 3.6
Research and development costs 920 966 -4.7 3,738 3,711 0.7
% of revenue 3.7 4.4 3.8 3.8
Order intake 28,811 23,583 22.2 104,872 98,142 6.9
Order backlog 34,177 29,765 14.8 34,177 29,765 14.8
Earnings per share, diluted and undiluted, EUR -0.03 -0.47 93.8 -0.07 -0.77 90.5
Equity per share, EUR 0.30 1.47 -79.80 0.49 1.47 -66.38
Average share price, EUR 0.31 2.65 -88.2 0.40 3.60 -88.9
Average number of shares, diluted and undiluted, 1,000 shares 3) 106,085 11,854 794.9 63,729 11,854 437.6
Employees, average 638 631 1.0 632 667 -5.3
Employees, end of period 637 623 2.2 637 623 2.2

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) As a result of Exel’s rights issue completed in June 2024, the total number of shares in the company increased by 94,831,552 from 11,896,843 to 106,728,395.

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