Exel Composites

4,64EUR +0,87 %
5 461 investerare följer bolaget.

Exel Composites är ett tillverkningsbolag. Bolaget tillverkar och marknadsför sammansatta kompositer som används i krävande industriella miljöer. Utöver huvudverksamheten utförs även laminering och extrudering. Störst verksamhet återfinns inom Europa och Asien med kunder inom tillverknings- och flygindustrin. Exel Composites grundades under 1960 och har sitt huvudkontor i Vanda.

P/E (23e)
10,42
EV/EBIT (23e)
8,57
P/B (23e)
1,63
Direktavkastnings- % (23e)
4,74 %
Riktkurs
6.00 EUR
Rekommendation
Öka
Uppdaterad
19.2.2023
NASDAQ Helsinki
EXL1V
Dagens lägsta / högsta pris
4,51 / 4,65 EUR
Börsvärde
55,2 mn EUR
Omsättning
11,75 tn EUR
Volym
2,6 tn
Risk och rekommendation
HögRiskLåg
SäljRekommendationKöp

Analyst

Finansiell kalender

Business review
2023-05-02
Bolagsstämma
2023-05-10
Delårsrapport
2023-08-18
Halvårsdividend
2023-09-07
Business review
2023-11-03

Income statement

20192020202120222023e2024e2025e2026e
Revenue103,78108,59134,37136,99134,85144,97152,22158,31
growth-%7,43 %4,63 %23,75 %1,95 %−1,56 %7,51 %5,00 %4,00 %
EBITDA10,7215,2711,9410,1217,5416,9117,7818,26
EBIT (adj.)7,209,716,048,038,7410,4111,3211,87
EBIT5,109,423,743,009,8410,4111,3211,87
Profit before taxes3,907,124,163,608,248,9210,0410,79
Net income2,415,371,662,296,406,317,037,47
EPS (adj.)0,340,470,290,610,450,530,590,63
growth-%45,23 %38,49 %−37,54 %108,66 %−27,46 %19,16 %11,31 %6,35 %
Dividend0,180,200,200,200,220,230,240,26
Dividend ratio88,85 %44,31 %143,33 %103,77 %40,91 %43,34 %40,63 %41,39 %

Profitability and return on capital

20192020202120222023e2024e2025e2026e
EBITDA-%10,33 %14,06 %8,89 %7,39 %13,01 %11,67 %11,68 %11,53 %
EBIT-% (adj.)6,94 %8,94 %4,49 %5,86 %6,48 %7,18 %7,44 %7,50 %
EBIT-%4,91 %8,67 %2,78 %2,19 %7,30 %7,18 %7,44 %7,50 %
ROE9,25 %19,46 %5,58 %7,58 %20,02 %17,63 %17,65 %16,89 %
ROI8,59 %13,92 %4,80 %3,70 %12,64 %13,40 %14,29 %14,65 %

Valuation

20192020202120222023e2024e2025e2026e
Share price (EUR)6,487,388,105,424,644,644,644,64
Shares11,9011,9011,9011,9011,9011,9011,9011,90
Market cap77,0987,7996,3664,4855,2055,2055,2055,20
Enterprise value107,32118,96133,7595,5884,3582,6479,2076,09
EV/S1,031,101,000,700,630,570,520,48
EV/EBITDA10,017,7911,209,444,814,894,454,17
EV/EBIT (adj.)14,9112,2522,1511,909,657,946,996,41
EV/EBIT21,0412,6335,7831,848,577,946,996,41
P/E (adj.)19,0515,6727,538,8310,428,747,867,39
P/E31,9916,3558,0528,128,638,747,867,39
P/B2,933,043,152,151,631,471,321,19
P/S0,740,810,720,470,410,380,360,35
Dividend yield2,78 %2,71 %2,47 %3,69 %4,74 %4,96 %5,17 %5,60 %
Equity ratio30,82 %29,83 %26,49 %26,88 %32,30 %34,60 %37,47 %40,38 %
Gearing ratio114,95 %107,92 %119,93 %102,36 %84,72 %72,01 %56,62 %44,43 %

Quarter data

Q1/22Q2/22Q3/22Q4/222022Q1/23eQ2/23eQ3/23eQ4/23e
Revenue34,1538,0633,7930,98136,9929,8833,3136,4935,17
EBITDA1,784,773,410,1610,124,593,884,794,27
EBIT0,033,011,68−1,723,001,792,233,142,67
Profit before taxes0,524,943,22−5,083,601,391,832,742,27
Net income−0,044,032,09−3,782,291,061,422,151,77
Publisher
Aktieanalys

H1 expected to be soft

Exel published a Q4 report that was softer than our expectations in terms of revenue and EBIT. In connection with the report, Exel issued its guidance for the current year, which is quite well in line with our pre-report expectations. However, in light...

2023-02-20 av Aapeli Pursimo
Publisher
Aktieanalys

Exel Composites: Demand outlook most interesting part of the Q4 report

Exel publishes its Q4 report on Friday at 9.00 am EET. We expect Exel’s revenue to have fallen from the comparison period reflecting the moderate new orders and thinner order book of Q3. We estimate that EBIT has grown from the challenging comparison...

2023-02-15 av Aapeli Pursimo
Publisher
Aktieanalys

Exel: Demand development key for the rest of the year

Exel reported a weaker-than-expected Q3 report with revenue and operating profit below our estimates. In the report, the company reiterated its guidance for the current year and sees no reason to change it at this time, which was disappointing given our expectations prior to the report.

2022-11-04 av Aapeli Pursimo
Publisher
Omfattande aktieanalys

Exel: Growth opportunities through a global production network

Exel has been quite successful in its operational activities over the present year, but with a significantly weakened macro picture and short visibility of the business, there is still considerable uncertainty about the company's near-term performance.

2022-09-28 av Aapeli Pursimo
Publisher
Aktieanalys

Exel: Successful actions in operational execution

Exel’s Q2 report was stronger than we had forecast. The company exceeded our expectations, both in terms revenue and especially in terms of operating profit.

2022-07-21 av Aapeli Pursimo
Publisher
Aktieanalys

Exel Composites: Doing the right things the right way

Exel published its Q1 report on Friday. The company started the year with good growth and clearly better-than-expected performance. The measures taken to turn around the US unit seem to have been the right ones and carried out the right way. We think...

Publisher
Aktieanalys

Exel Composites: Tightening the screw

Yesterday, Exel published its Q4 report. Growth was strong, but known drawbacks made performance difficult. This year, Exel starts out in an acceptable position and if the performance is straightened out the share is not impossibly priced. However, the...

Publisher
Aktieanalys

Exel Composites: Growth and repair kits

Yesterday, Exel published its contrasted Q3 report. The company's volume growth remained strong, but major challenges facing the US unit ruined short-term earnings performance. We consider these problems to be temporary, even though there is uncertainty...

Publisher
Aktieanalys

Exel Composites: Bothersome setback

Exel's demand situation has remained good, but higher material costs have affected short-term performance more than we expected. This year's earnings growth will remain low, but one single setback does not spoil the longer-term potential.

Publisher
Aktieanalys

Exel Composites: Everything is in order

The structure of Exel's production network is global, industrial positioning extensive, and relative economies of scale are genuine. These factors help guard competitiveness and contribute to strengthening the earnings outlook for coming years. During...

Publisher
Aktieanalys

Exel Composites: A raft of new orders

Exel published its Q2 report yesterday. Growth was clearly brisker than we expected, but the operating result was below our estimates. The key causes of joy in the report were undoubtedly related to excellently developed new orders, another record-high...

Publisher
Aktieanalys

Exel Composites: Wind in the sails and order books

Exel published its Q1 report on Friday. The company's operational performance was slightly better than we expected. The key causes of joy in the report were in our opinion related to excellently developed new orders, record-high order book, and, thus...

Publisher
Aktieanalys

Exel Composites: Super clinical finish

Exel published its Q4 report yesterday. Operationally the company's performance was clearly better than we expected, and the market comments were also beyond reproach. Exel has tuned its business to the nines, even though some internal bumps still need...