Exel Composites Plc half-year report January-June 2026: Growth accelerated in Q2 with revenue up 40% and adjusted operating profit more than doubled

About this update from Exel Composites Oyj

English Finnish Published: 2026-08-14 07:00:00 CEST Exel Composites Plc - Half Year financial report Exel Composites Plc half-year report January-June 2026: Growth accelerated in Q2 with revenue up 40% and adjusted operating profit more than doubled EXEL COMPOSITES PLC | HALF-YEAR REPORT | 14 AUGUST 2026 AT 8:00 AM EEST Growth accelerated in Q2 with revenue up 40% and adjusted operating profit more than doubled This release is a summary of Exel's half-year report for January-June 2026. The complete report is attached to this release as a pdf file and available on the company's website at https://investors.exelcomposites.com/publications/ Figures in parentheses refer to the corresponding period in the previous year, unless otherwise specified. April-June 2026 in brief Order intake increased by 21.5% to EUR 34.5 million (Q2 2025: 28.4) Revenue increased by 39.7% to EUR 34.6 million (24.8) Operating profit was EUR 2.4 million (0.8) and operating profit margin 6.9% (3.1%) Adjusted operating profit increased to EUR 2.5 million (1.1) and adjusted operating profit margin was 7.3% (4.5%) Earnings per share was EUR 0.21 (-0.03) January-June 2026 in brief Order intake increased by 2.9% to EUR 64.8 million (Q1-Q2 2025: 63.0) Revenue increased by 29.4% to EUR 64.8 million (50.1) Operating profit was EUR 3.9 million (0.9) and operating profit margin 6.0% (1.8%) Adjusted operating profit increased significantly to EUR 4.0 million (1.8) and adjusted operating profit margin was 6.2% (3.6%) Earnings per share was EUR 0.39 (-0.05) Guidance for the full year 2026 (clarified) Exel Composites expects revenue and adjusted operating profit to increase significantly in 2026 compared to 2025. President and CEO Paul Sohlberg Exel delivered a strong first half of 2026, with growth accelerating further in the second quarter. High demand across several of our strategic customer industries, combined with strong execution, supported this favorable development. Revenue in the second quarter increased by 39.7% year on year to EUR 34.6 million. Growth was driven by higher deliveries in the Energy customer industry, where revenue nearly doubled year on year, and by continued strong demand in defense-related applications. Revenue in Buildings and Infrastructure also developed positively, while demand in other customer industries remained more mixed. Adjusted operating profit doubled to EUR 2.5 million, and the adjusted operating profit margin improved to 7.3% (4.5%). Larger customer deliveries and improved utilization supported the increase in profitability. We also acted early in response to cost pressures affecting manufacturing industries and worked closely with our customers and suppliers to mitigate the impact of these pressures. Together with continued cost discipline and operational improvements, these measures supported the positive profitability development. Our commercial position remained strong: order intake grew by 21.5% year on year to EUR 34.5 million, and the order backlog at the end of June was EUR 98.6 million, more than twice the comparison-period level. The backlog remained unchanged from the beginning of the year despite the strong revenue development. We continued to develop existing long-term customer relationships and pursue new ones, as closer cooperation can improve capacity planning, delivery security and operational efficiency for both parties. Both business units contributed strongly to the favorable development. Engineered Solutions' revenue increased by 30.1% year on year, supported by higher volumes under long-term customer agreements, including the multi-year conductor core agreements. Industrial Solutions' revenue increased by 81.6% year on year, driven by higher deliveries to wind customers, as expanded production capacity supported greater delivery volumes. The strong profitability development and disciplined working capital management resulted in good cash generation. Net cash flow from operating activities was positive EUR 6.3 million during the first half. This enabled us to continue planned growth investments in certain production capabilities and equipment upgrades, which led to a temporary increase in capital expenditure to EUR 5.1 million in the same period. We continued to advance the priorities of our strategy by scaling up production in India, improving utilization and refining our production setup to serve customers more efficiently. Earlier customer call-offs together with strong execution, supported the strong first half performance and accelerated the conversion of our order backlog. We are pleased by this earlier phasing of revenue and adjusted operating profit, while our outlook and full-year expectations remain unchanged. Accordingly, we reiterate our guidance for 2026: Exel Composites expects revenue and adjusted operating profit to increase significantly compared to 2025. The first half performance reflects the progress we are making in executing our strategy and demonstrates Exel's improved capabilities. I want to thank the entire Exel team for their commitment, and our customers, partners and shareholders for their continued trust. Consolidated key figures Q2 Q2 Change Q1-Q2 Q1-Q2 Change Q1-Q4 EUR thousand unless otherwise indicated 2026 2025 % 2026 2025 % 2025 Revenue 34,648 24,809 39.7 64,826 50,087 29.4 103,194 Operating profit 2,389 772 209.6 3,905 885 341.2 2,212 % of revenue 6.9 3.1 6.0 1.8 2.1 Adjusted operating profit 1) 2,529 1,129 124.0 4,045 1,811 123.4 3,628 % of revenue 7.3 4.5 6.2 3.6 3.5 EBITDA 3,563 2,013 77.0 6,210 3,464 79.3 7,133 Adjusted EBITDA 1) 3,703 2,370 56.2 6,350 4,390 45 8,548 Profit before tax 2,161 -2,926 173.8 3,933 -5,168 176.1 -5,736 Profit for the period 1,469 -2,898 150.7 2,609 -5,133 150.8 -6,073 Profit for the period excluding non-controlling interest 1,473 -2,724 154.1 2,751 -4,790 157.4 -5,490 % of revenue 4.3 -11.0 4.2 -9.6 -5.3 Shareholders' equity 30,166 28,803 4.7 30,166 28,803 4.7 28,092 Interest-bearing liabilities 34,504 32,945 4.7 34,504 32,945 4.7 34,370 Cash and cash equivalents 12,569 7,305 72.1 12,569 7,305 72.1 11,942 Net interest-bearing liabilities 21,934 25,640 -14.5 21,934 25,640 -14.5 22,428 Net debt to adjusted EBITDA 2) 2.1 3.1 -32.4 2.1 3.1 -32.4 2.6 Capital employed 64,670 61,748 4.7 64,670 61,748 4.7 62,461 Return on equity, % 19.8 -39.0 150.7 17.9 -33.6 153.3 -20.1 Return on capital employed, % 15.2 5.1 198.1 12.4 3.0 317.0 3.6 Equity ratio, % 30.8 32.9 -6.6 30.8 32.9 -6.6 32.2 Net gearing, % 72.7 89.0 -18.3 72.7 89.0 -18.3 79.8 Net cash flow from operating activities 3,594 -376 -1056.5 6,275 -3,830 -263.9 -963 Net cash flow from investing activities -2,542 -733 246.7 -5,010 -1,925 160.3 -1,045 Capital expenditure 2,582 679 280.2 5,053 1,902 165.6 3,133 % of revenue 7.5 2.7 7.8 3.8 3.0 Research and development costs 1,111 982 13.1 2,113 1,933 9.3 3,792 % of revenue 3.2 4.0 3.3 3.9 3.7 Order intake 34,542 28,427 21.5 64,829 63,031 2.9 168,627 Order backlog 98,589 46,621 111.5 98,589 46,621 111.5 98,719 Earnings per share, diluted and undiluted, EUR 0.21 -0.03 914.9 0.39 -0.05 965.1 -0.05 Equity per share, EUR 4.29 0.27 1,500.11 4.29 0.27 1,500.31 0.26 Average share price, EUR 9.97 0.37 2,616.06 8.95 0.36 2,386.11 0.37 Average number of shares, diluted and undiluted, 1,000 shares 3) 7,033 105,947 -93 7,037 106,016 -93 105,810 Employees, average 730 605 20.6 707 624 13.2 632 Employees, end of period 749 624 20.0 749 624 20.0 667 1) Excluding material items affecting comparability, such as restructuring costs, impairment losses and reversals, and costs related to planned or realized business acquisitions or disposals 2) Last 12 months' adjusted EBITDA 3) Exel's reverse share split executed in March 2026 combined each fifteen shares into one share. Average number of shares excludes treasury shares. Revenue by business unit Q2 Q2 Change Q1-Q2 Q1-Q2 Change Q1-Q4 EUR thousand 2026 2025 % 2026 2025 % 2025 Engineered Solutions BU 26,272 20,197 30.1 50,231 41,290 21.7 83,869 Industrial Solutions BU 8,376 4,611 81.6 14,588 8,789 66.0 19,308 Other 0.0 1.0 -100.0 7.8 8.4 -7.1 17.4 Total 34,648 24,809 39.7 64,826 50,087 29.4 103,194 Revenue by customer industry Q2 Q2 Change Q1-Q2 Q1-Q2 Change Q1-Q4 EUR thousand 2026 2025 % 2026 2025 % 2025 Buildings and infrastructure 5,992 4,531 32.3 10,884 9,952 9.4 21,348 Industrial 3,573 4,255 -16.0 6,671 7,760 -14.0 13,898 Energy 10,633 5,320 99.9 19,977 10,368 92.7 23,128 Transportation 4,674 4,314 8.3 10,375 9,734 6.6 19,585 Other 9,775 6,389 53.0 16,919 12,274 37.8 25,235 Total 34,648 24,809 39.7 64,826 50,087 29.4 103,194 Vantaa, 14 August 2026 Exel Composites Plc Board of Directors Results briefing We welcome investors, analysts and media representatives to join the online results briefing today at 1:00 PM EEST. The briefing will be presented by President and CEO Paul Sohlberg and CFO Mikko Rummukainen and will be held in English. To attend, please register in advance at https://investors.exelcomposites.com/q2-2026-briefing A link to the event will be sent to registered participants prior to the briefing. Additional information Lauri Haavisto, Director, Investor [email protected] +358 20 754 1214 Exel Composites in brief Exel Composites is one of the largest manufacturers of composite profiles and tubes made with pultrusion and pullwinding technologies and a pultrusion technology forerunner in the global composite market. Our forward-thinking composite solutions made with continuous manufacturing technologies serve customers in a wide range of industries around the world. You can find our products used in applications in diverse industrial sectors such as wind power, transportation and building and infrastructure. Our R&D expertise, collaborative approach and global footprint set us apart from our competition. Our composite solutions help customers save resources, reduce products' weight, improve performance and energy efficiency, and decrease total lifetime costs. We want to be the first choice for sustainable composite solutions globally. Headquartered in Finland, Exel Composites employs over 600 forward-thinking professionals around the world and is listed on Nasdaq Helsinki. To find out more about our offering and company please visit https://www.exelcomposites.com Exel half-year report Q1-Q2 2026.pdf https://attachment.news.eu.nasdaq.com/a5808d6ae45e2ed3d43e8cdb73867f918 Company News Subscribe European Market Activity Nasdaq Europe © 2026, Nasdaq, Inc. All Rights Reserved.

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