Exel Composites Oyj · OMXHEX:EXEL
Exel Composites Oyj — Q3 2023 Earnings Presentation
12 slides from Exel Composites Oyj's earnings presentation, Nov 3, 2023
Slide 1: Business Review Q1-Q3 2023
exel COMPOSITES Business Review Q1-Q3 2023 FOR FORWARD THINKERS
Slide 2: Financial briefing, 3 November 2023
Business Review Q1-Q3 2023 Financial briefing, 3 November 2023 Paul Sohlberg Mikko Rummukainen President and CEO CFO 2 Business Review Q1-Q3 2023
Slide 3: Q3 2023 executive summary
Q3 2023 executive summary • Weak market conditions continued • Order intake and revenue declined compared to Q2 2022 • Customer activity has increased • Overall macroeconomic environment has weighed on the timing of order placement and on the schedules of certain large project orders • Positive cash
Slide 4: Revenue and mix affected by challenging market conditions
Revenue and mix affected by challenging market conditions. US factory refocused to address growth opportunities in North American tailored applications Revenue share by customer industry, Revenue share by region1), % % Buildings and Equipment and Wind power Europe North America infrastructure other
Slide 5: Adjusted operating profit at -1.2 MEUR
Adjusted operating profit at -1.2 MEUR Lower results due to lower revenue Cost management activities continued Fixed costs decreased due to lower personnel costs following rigorous rightsizing activities 5 Business Review Q1-Q3 2023
Slide 6: Order backlog development
Order backlog development 6 Business Review Q1-Q3 2023
Slide 7: Guidance and outlook
Guidance and outlook Guidance for 2023 Full year 2023 guidance for revenue was lowered on 19 October. Exel Composites expects that revenue and adjusted operating profit will decrease significantly in 2023 compared to 2022. Outlook • Overall macroeconomic environment has weighed on the timing of orde
Slide 8: 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 9: Strategic factory review completed in the United States
Strategic factory review completed in the United States • Operations and factory to be refocused for tailored pullwinding tubes and customized pultruded composite profiles for North American markets • Focus on attractive opportunities in composites tubes, electrical products and applications in buil
Slide 10: Key takeaways
Key takeaways Wind power customer Strategic review New strategy Challenging market negotiations concerning US implementation environment progressing operations and factory proceeding continued completed 10 Business Review Q1-Q3 2023
Slide 11: Join us at our Capital Markets Day
Join us at our Capital Markets Day What: Further insights into our new strategy When: 13 November 2023, 13:00 – 16:00 EET Where: Musiikkitalo, Terassilämpiö, Helsinki How: Scan the QR code or register via email: investor@exelcomposites.com Full year 2023 results on 16 February 2024 11 Business Revie
Slide 12: For Forward Thinkers
FOR FORWARD THINKERS