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. The company's efforts to turn around the US unit and tackle cost inflation through its own pricing actions seem to be working quite well so far Despite the threats to the global economy and the sustainability of the US unit turnaround, we believe the risk-adjusted expected return on the stock is attractive at current price levels.
Exel Composites
Exel Composites is a manufacturing company. The company manufactures and markets compound composites that are used in demanding industrial environments. In addition to the main business, lamination and extrusion are also performed. The largest presence is in Europe and Asia with customers in the manufacturing and aerospace industries. Exel Composites was founded in 1960 and is headquartered in Vantaa.
Read more on company pageKey Estimate Figures2022-07-20
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 134.4 | 143.4 | 146.3 |
growth-% | 23.75 % | 6.73 % | 2.00 % |
EBIT (adj.) | 6.0 | 10.3 | 10.7 |
EBIT-% (adj.) | 4.49 % | 7.21 % | 7.32 % |
EPS (adj.) | 0.29 | 0.74 | 0.58 |
Dividend | 0.20 | 0.22 | 0.24 |
Dividend % | 2.47 % | 13.10 % | 14.29 % |
P/E (adj.) | 27.53 | 2.27 | 2.91 |
EV/EBITDA | 14.75 | 3.43 | 3.07 |