Slide 1: Financial Statements Review Q1-Q4 2023
Financial Statements Review Q1-Q4 2023 2023 REVENUE 96.8 MEUR AND ADJUSTED OPERATING PROFIT -2.4 MEUR
Slide 2: Financial briefing, 16 February 2024
Financial Statements Review Q1-Q4 2023 Financial briefing, 16 February 2024 Paul Sohlberg Mikko Rummukainen President and CEO CFO 2 Financial Statements Review Q1-Q4 2023
Slide 3: Order intake and revenue increased from Q3 2023 despite continued challenging market environment
Order intake and revenue increased from Q3 2023 despite continued challenging market environment • Order intake and revenue increased from Q3 2023, decreased YoY • Adjusted operating profit was impacted by lower revenue • Decisive actions to manage working capital and costs resulted to 0.8 MEUR quar
Slide 4: Revenue increased in Transportation in Q4, Asia-Pacific and North America pressed in 2023
Revenue increased in Transportation in Q4, Asia-Pacific and North America pressed in 2023 due to lower orders in Wind power Revenue share by customer industry, Revenue share by region1), % % Buildings and Equipment and Wind power Europe North America infrastructure other industries Machinery and Tra
Slide 5: Challenging market environment continued to weigh on our profitability despite counteractions
Challenging market environment continued to weigh on our profitability despite counteractions Q4 2023 results lower YoY due to lower revenue 2023 results impacted by lower revenue in challenging market environment Savings in personnel costs and operational fixed costs in 2023 resulted in lower costs
Slide 6: Order backlog has increased for two consecutive quarters
Order backlog has increased for two consecutive quarters 6 Financial Statements Review Q1-Q4 2023
Slide 7: Exel’s long-term targets
Exel’s long-term targets 7 Financial Statements Review Q1-Q4 2023
Slide 8: Guidance and outlook
Guidance and outlook Guidance for 2024 Exel Composites expects revenue to increase and adjusted operating profit to increase significantly in 2024 compared to 2023 Outlook • Visibility to market development still limited • Considering overall economic sentiment, we expect demand to be somewhat soft
Slide 9: A transformative strategy based on sustainability, customer value and a high ambition in execution
A transformative strategy based on sustainability, customer value and a high ambition in execution Organic growth Customer value Profitability High ambition Capturing growth from large and fast- Focus on increasing value to customers New operating model with two business Skills and capabilities enab
Slide 10: Strategy implementation continues
Strategy implementation continues Action Status UK downsizing Completed Decision to build new manufacturing facility in India Completed for wind power industry customers Strategic factory review 1 (USA) Completed New operating model established Completed Aligning resources within new business units
Slide 11: New operating model with simplified structure established
New operating model with simplified structure established • Two dedicated customer-centric business units with full ownership of results and resources • Business unit-based sales model with dedicated technical sales support team to provide stronger technical knowledge to customers Engineered Solutio
Slide 12: New multi-year agreement with Foton Bus and Coach company
New multi-year agreement with Foton Bus and Coach company A new multi-year co-operation contract was signed with Foton Bus and Coach company in February 2024 • Pultruded parts to Foton’s buses Foton is part of Chinese BAIC Company • BAIC is also Mercedes-Benz AG’s largest individual shareholder Grea
Slide 13: Key takeaways
Key takeaways Despite counteractions challenging market Opening order backlog Strategy for 2024 higher than a implementation We look forward to environment 2024 with confidence continued to weigh on year ago proceeding as planned our profitability 13 Financial Statements Review Q1-Q4 2023
Slide 14: Thank you!
Thank you! Q&A 26 March 2024 AGM 25 April 2024 Q1 2024 results
Slide 15: Forward Thinkers
FOR FORWARD THINKERS