Exel Composites Oyj · OMXHEX:EXEL
Exel Composites Oyj — Q3 2024 Earnings Presentation
19 slides from Exel Composites Oyj's earnings presentation, Oct 31, 2024
Slide 1: Business Review Q1-Q3 2024
Business Review Q1-Q3 2024 TURNAROUND PROGRESSING - REVENUE AND PROFITABILITY INCREASED SIGNIFICANTLY IN THE THIRD QUARTER
Slide 2: Business Review Q1-Q3 2024 & financial briefing, 31 October 2024
Business Review Q1-Q3 2024 & financial briefing, 31 October 2024 Paul Sohlberg Mikko Rummukainen President and CEO CFO 2 Business Review Q1-Q3 2024
Slide 3: Q3 2024 highlights
Q3 2024 highlights Turnaround progressing Revenue and operating profit increased significantly year-on-year Order backlog strengthened Significant new customer engagements announced with Vestas earlier in Q3 and with another major Western wind turbine manufacturer today Strategic factory r
Slide 4: Q3 2024 financial highlights
Q3 2024 financial highlights Order intake EUR million 21.0 (22.8) -7.8% Order intake, EUR million Business Review Q1-Q3 2024 Revenue Operating profit EUR million EUR million 24.6 419.7% 0.6 »~ (20.5) (-0.7) Revenue, EUR million 137.0 96.8 p= Q1-04 Q1-04 2022 2023 Adj. operating profit Adj. operating
Slide 5: Q3 revenue grew in all customer industries except for Energy
Q3 revenue grew in all customer industries except for Energy; strongest growth in Buildings and infrastructure Revenue by customer industry, EUR million Revenue by customer industry, % 24.6 20.5 Buildings and Industrial Energy Transportation Other infrastructure 5 Business Review Q1-Q3 2024
Slide 6: Profitability increased significantly year-on-year
Profitability increased significantly year-on-year Profitability in Q3 improved 10% year-on-year due to determined measures taken during the year: – Actions to optimize capacity – Cost control – Operational measures We expect profitability to further improve over time with higher utilization rat
Slide 7: Revenue grew by 19.7% in Q3; Order backlog was 7.3% higher than a year ago
Revenue grew by 19.7% in Q3; Order backlog was 7.3% higher than a year ago Order intake Order intake Q3 2024 Q1-Q3 2024 Revenue for January-September 2024 EUR million EUR million was at the previous year’s level 21.0 -7.8% 76.1 +2.0% Order intake increased in Q1-Q3 2024, (22.8) (74.6) +2.0% but
Slide 8: Guidance for the full year 2024 (unchanged)
Guidance for the full year 2024 (unchanged) Exel Composites expects revenue to increase and adjusted operating profit to increase significantly in 2024 compared to 2023 8 Business Review Q1-Q3 2024
Slide 9: Engineered Solutions Business Unit (ESBU): Optimization of factory network and securing new customers progressing
Engineered Solutions Business Unit (ESBU): Optimization of factory network and securing new customers progressing Revenue in the third quarter decreased compared to the previous quarter but was higher than in the first quarter of the year Q3 is usually a seasonally lower quarter for ESBU Marke
Slide 10: Industrial Solutions Business Unit (ISBU): Revenue growth and two significant wind power engagements
Industrial Solutions Business Unit (ISBU): Revenue growth and two significant wind power engagements Revenue increased compared to Q1 and Q2 2024 Demand in the overall market continues cautiously positive, but a clear improvement may take some time The market position of ISBU has developed fav
Slide 11: Carbon planks for wind turbine spar caps
NEW CUSTOMER ENGAGEMENTS Carbon planks for wind turbine spar caps Exel and joint venture Kineco-Exel India (KECI) won the bidding process in India for supplying carbon planks for wind turbine spar caps for Vestas The products will be manufactured with pultrusion in KECI’s new factory in India After
Slide 12: Helihoist systems for a major Western wind turbine manufacturer
NEW CUSTOMER ENGAGEMENTS Helihoist systems for a major Western wind turbine manufacturer After the review period, we signed a multi-year supply agreement for helihoist systems for offshore wind turbines with a major Western wind turbine manufacturer Helihoist systems provide safe access for technici
Slide 13: The new production facility in India will be ready for production in Q4 2024
The new production facility in India will be ready for production in Q4 2024 Installations at the new India factory progressing according to plan and the factory will be ready for commercial production in Q4 2024 Once completed, the factory will allow us to better serve wind power customers in I
Slide 14: Status of strategy implementation
Status of strategy implementation Action Status Comment Decision to build a new manufacturing facility in India for wind power industry customers Strategic factory review 1 (USA) New operating model established Aligning resources within new business units Rights offering and new financing agreement
Slide 15: Sustainability: Exel launches commercial-scale use of bio-based resins
Sustainability: Exel launches commercial-scale use of bio-based resins Exel recently announced a new partnership with INEOS Composites to purchase more than 100 metric tons of Envirez bio-based resin system Circular feedstock-based system helps us to reduce carbon emissions in the associated man
Slide 16: Q3 2024 key takeaways
Q3 2024 key takeaways We continued to perform well despite the uncertain operating environment Our revenue and profitability increased significantly year-on-year Our order backlog was strengthened, and we achieved significant customer engagements important for our future growth Implementatio
Slide 17: Financial reporting and AGM in 2025
Financial reporting and AGM in 2025 Financial Statements Release 2024: 14 February 2025 Business Review Q1 2025: 8 May 2025 Half Year Financial Report Q1-Q2 2025: 14 August 2025 Business Review Q1-Q3 2024: 6 November 2025 Annual Report will be published on 5 March 2025, at the latest The Ann
Slide 18: Thank you!
exel COMPOSITES Thank you! Q&A FOR FORWARD THINKERS
Slide 19: For Forward Thinkers
FOR FORWARD THINKERS exel COMPOSITES