SIGNIFICANT INCREASE IN ORDER INTAKE, REVENUE AND OPERATING PROFIT

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1 SIGNIFICANT INCREASE IN ORDER INTAKE, REVENUE AND OPERATING PROFIT January June 2017 Business Review 20 July 2017 Exel Composites

2 H in brief Business environment Significant increase in revenue due to increased mid-segment sales, supported by general market environment recovery Industrial Applications continued to drive growth Geographically China and Europe major contributors Operations Lower cost base due to cost savings measures from Downsizing of Australian unit progresses Integration of Nanjing Jianhui proceeds according to plan Financial performance Order intake, revenue and operating profit continued to develop positively Exel Composites 2

3 H highlights Revenue, EUR million Order intake, EUR million Q1-Q Q1-Q Adjusted operating profit, EUR million Q1-Q Net cash flow, EUR million Q1-Q Exel Composites 3

4 EUR thousand Key figures H Change, % Order intake 45,839 38, ,778 Order backlog 1 19,436 15, ,702 Revenue 43,447 37, ,079 Operating profit 3,144 1, % of revenue Adjusted operating profit 2 3,387 1, ,621 % of revenue Profit for the period 2, Net cash flow from operating activities ,129 Return on capital employed, % Net gearing, % Earnings per share Equity per share, EUR Employees on average As per the last day 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. Exel Composites 4

5 EUR thousand Key figures Q Change, % Order intake 23,359 20, ,778 Order backlog 1 19,436 15, ,702 Revenue 23,150 19, ,079 Operating profit 1,488 1, % of revenue Adjusted operating profit 2 1,722 1, ,621 % of revenue Profit for the period 1, Net cash flow from operating activities 1, ,129 Return on capital employed, % Net gearing, % Earnings per share Equity per share, EUR Employees on average As per the last day 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. Exel Composites 5

6 Significant increase in revenue in Q Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Revenue, EUR million Order backlog, EUR million, end of period 0 Exel Composites 6

7 Volume increase due to higher delivery volumes of mid-segment products 1) Volume impact calculated as difference in kilograms of delivered products times prior year average sales price/kg. Exel Composites 7

8 Industrial Applications continued to drive volume growth Industrial Applications Revenue, EUR million H1 H Telecommunication Construction & Infrastructure Paper Industry Electrical Industry Other Applications Machine Industry Transportation Industry Other Applications Construction & Infrastructure Industrial Applications Building, Construction & Infrastructure Energy Industry Cleaning & Maintenance Sports & Leisure Other Industries Exel Composites 8

9 Asia and China major contributors geographically Europe APAC 9.1 Rest of the world H1 2017, EUR million H1, EUR million Exel Composites 9

10 Higher revenue and lower cost base improved operating profit 4 20% % 1 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Adjusted operating profit, EUR million Adjusted operating profit margin, % Operating profit target, % 0% Exel Composites 10

11 ROCE improved to 16% 30% 60 20% 40 10% 20 0% H Capital employed, MEUR ROCE, % Exel Composites 11

12 We continue the implementation of our strategy, focus on operational efficiency and new customer acquisition Good growth in our focus segments Integration of Nanjing Jianhui strengthens our position in China Momentum in new customer acquisition especially in the midsegment Continued focus on operational efficiency and tight cost control Accelerate growth in China New composite technologies Protect and grow our stronghold customers Providing competitive edge and best customer service Penetrate new applications Create true global footprint Exel Composites 12

13 Outlook for 2017 Exel Composites reiterates its outlook for 2017 and estimates that revenue with comparable company structure (i.e. without the acquisition of Nanjing Jianhui Composite Material, JHFRP) will increase from previous year level and adjusted operating profit will be higher than previous year level. In, Exel Composites revenue was EUR 73.1 million and adjusted operating profit was EUR 2.6 million. Exel Composites 13

14 Your IR contacts Riku Kytömäki President and CEO Mikko Kettunen CFO Noora Koikkalainen IR Manager Exel Composites 14

15 Exel Composites