ADJUSTED OPERATING PROFIT CONTINUED TO INCREASE Half-year Financial - - PowerPoint PPT Presentation

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ADJUSTED OPERATING PROFIT CONTINUED TO INCREASE Half-year Financial - - PowerPoint PPT Presentation

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ADJUSTED OPERATING PROFIT CONTINUED TO INCREASE Half-year Financial Review January-June 2018 24 July 2018 Exel Composites Exel Composites in brief A globally leading composite technology company that designs, manufactures and markets fiber

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Exel Composites

ADJUSTED OPERATING PROFIT CONTINUED TO INCREASE

Half-year Financial Review January-June 2018 24 July 2018

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Exel Composites 2

Exel Composites in brief

A globally leading composite technology company that designs, manufactures and markets fiber reinforced plastics products and solutions for demanding applications in various segments and markets

86.3

(73.1) Revenue

EUR million, 2017 (2016)

568

(455) Employees

End of 2017 (2016)

6.3

(2.6) Adjusted operating profit

EUR million, 2017 (2016)

Manufacturing in

7

countries Customers in over

50

countries Industrial Applications: Telecommunication, Paper

Industry, Electrical Industry, Machine Industry, Transportation Industry

Construction & Infrastructure: BCI, Energy Industry Other Applications: Cleaning & Maintenance, Sports

& Leisure, Other Industries

Customer focused Integrity Caring Innovative One Exel Our values

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Exel Composites 3

H1 2018 in brief

  • Business environment

– Wind energy is a high growth segment – Declining volumes in telecommunications

  • Operations

– The acquisitions of Nanjing Jianhui and DSC have significantly supported revenue growth according to our strategy – DSC integration process is progressing according to plan – Focus on DSC profitability turnaround and growth in the American market

  • Financial performance

– Group revenue grew clearly – Adjusted operating profit continued to increase and improved for the eighth consecutive quarter, year-over-year

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Exel Composites 4

H1 2018 highlights

17.9 20.3 21.5 19.7 23.2 25.3 16.4 20.4 19.0 22.4

Q1-Q4 2016 Q1-Q4 2017 Q1-Q2 2018

Revenue, EUR million

0.1 1.7 1.8 1.2 1.7 2.0 0.6 1.6 0.7 1.3

Q1-Q4 2016 Q1-Q4 2017 Q1-Q2 2018

Adjusted operating profit, EUR million

18.0 22.5 22.0 20.2 23.4 25.0 18.2 19.3 18.3 21.4

Q1-Q4 2016 Q1-Q4 2017 Q1-Q2 2018

Order intake, EUR million

  • 0.9
  • 0.8
  • 0.2

0.3 0.9

  • 1.1

2.5 2.1 1.2 2.7

Q1-Q4 2016 Q1-Q4 2017 Q1-Q2 2018

Net cash flow, EUR million

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Exel Composites 5

EUR thousand 1.1.-30.6. 2018 1.1.-30.6. 2017 Change, % 1.1.-31.12. 2017 Order intake 46,975 45,839 2.5 86,531 Order backlog

1

19,828 19,436 2.0 17,126 Revenue 46,796 43,447 7.7 86,255 Operating profit 2,951 3,144

  • 6.1

6,081 % of revenue 6.3 7.2 7.1 Adjusted operating profit

2

3,759 3,387 11.0 6,319 % of revenue 8.0 7.8 7.3 Profit for the period 1,981 2,166

  • 8.6

4,212 Net cash flow from operating activities

  • 1,277

81

  • 1676.5

4,856 Return on capital employed, % 11.4 15.6 14.8 Net gearing, % 87.2 36.7 30.3 Earnings per share 0.17 0.18 0.36 Equity per share, EUR 2.34 2.30 1.8 2.43 Employees on average 613 498 23.1 532

Key figures H1 2018

¹ As per the end of the period.

2 Excluding material items affecting comparability, such as restructuring costs, impairment losses and reversals, and costs related to

planned or realized business acquisitions or disposals. For more information, please refer to the paragraph “Change in Exel Composites’ financial reporting terminology” of the Half-year Financial Report published on 21 July 2016.

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Exel Composites 6

EUR thousand 1.4.-30.6. 2018 1.4.-30.6. 2017 Change, % 1.1.-31.12. 2017 Order intake 25,004 23,359 7.0 86,531 Order backlog

1

19,828 19,436 2.0 17,126 Revenue 25,277 23,150 9.2 86,255 Operating profit 1,321 1,488

  • 11.2

6,081 % of revenue 5.2 6.4 7.1 Adjusted operating profit

2

1,973 1,722 14.6 6,319 % of revenue 7.8 7.4 7.3 Profit for the period 1,062 1,060 0.2 4,212 Net cash flow from operating activities

  • 1,114

929

  • 219.9

4,856 Return on capital employed, % 10.3 14.5 14.8 Net gearing, % 87.2 36.7 30.3 Earnings per share 0.09 0.09 0.36 Equity per share, EUR 2.34 2.30 1.8 2.43 Employees on average 652 534 22.1 532

Key figures Q2 2018

¹ As per the end of the period.

2 Excluding material items affecting comparability, such as restructuring costs, impairment losses and reversals, and costs related to

planned or realized business acquisitions or disposals. For more information, please refer to the paragraph “Change in Exel Composites’ financial reporting terminology” of the Half-year Financial Report published on 21 July 2016.

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Exel Composites 7

Continued revenue growth in first half of 2018

5 10 15 20 25 30 5 10 15 20 25 30 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2017 2018 Revenue, EUR million Order backlog, EUR million, end of period

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Exel Composites 8

Volume increase due to acquisitions and improved sales mix

1) Volume impact calculated as difference in kilograms of delivered products

times prior year average sales price/kg.

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Exel Composites 9

Nanjing Jianhui and DSC supported revenue growth especially in wind energy

Transportation Industry Telecommuni- cation Machine Industry Paper Industry Electrical Industry Cleaning & Maintenance Sports & Leisure Other Industries Building, Construction & Infrastructure Energy Industry

Construction & Infrastructure Other Applications Industrial Applications

Revenue by customer segment, EUR million

13.4 11.2 4.9 8.6 4.8 5.5 5 10 15 20 25 30 Q2 2017 Q2 2018 25.3 22.5 9.0 14.2 9.2 10.1 10 20 30 40 50 Q1-Q2 2017 Q1-Q2 2018 Other Applications Construction & Infrastructure Industrial Applications

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Exel Composites 10

DSC acquisition more than doubled revenue growth in Rest of the World

Q1-Q2 2018 Q1-Q2 2017

32.1 33.1 9.1 8.1 2.3 5.6

Revenue by market area, EUR million

Europe APAC Rest of the World

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Exel Composites 11

Adjusted operating profit continued to improve for the 8th consecutive quarter

0% 10% 20% 1 2 3 4

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2015 2016 2017 2018 Adjusted operating profit, EUR million Adjusted operating profit margin, % Operating profit target, %

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Exel Composites 12

20 40 60 80 0% 10% 20% 30% 2014 2015 2016 2017 Q1-Q2 2018 Capital employed, MEUR ROCE, %

ROCE at 11.4% in H1 2018

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Exel Composites 13 Build leadership in China New composites technologies Create true global footprint Protect and grow

  • ur stronghold

customers Providing competitive edge and best customer service Penetrate growing/ new applications

We continue executing on our growth strategy

  • Acquisitions have significantly

contributed to revenue growth

– Nanjing Jianhui has exceeded expectations – DSC acquisition an efficient way to create foothold in the strategically important American composites market – SVP, Exel Composites Americas and President of DSC appointed to ensure full attention on profitability turnaround and growth

  • Continued focus on Group

revenue growth

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Exel Composites 14

Your IR contacts

Riku Kytömäki President and CEO +358 50 511 8288 riku.kytomaki@exelcomposites.com Mikko Kettunen CFO +358 50 3477 462 mikko.kettunen@exelcomposites.com Noora Koikkalainen IR Manager +358 50 562 6552 noora.koikkalainen@exelcomposites.com

www.exelcomposites.com

USA Erlanger

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Exel Composites 15

News highlights at www.exelcomposites.com

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Exel Composites