Exel Composites Plc revises its outlook for 2018
EXEL COMPOSITES PLC – STOCK EXCHANGE RELEASE – 23 April 2018 at 16:25 EET
Exel Composites Plc announced today the acquisition of Diversified Structural Composites (“DSC”), with revenue for the fiscal year 2017, ended in March 2018, of USD 19 million and an operating loss close to USD one million. Restructuring initiatives since 2015 have progressively improved DSC’s profitability and breakeven profitability is expected to be reached in 2019.
As a result of the DSC acquisition, Exel Composites revises its outlook for 2018.
The revised outlook for the full year 2018 is:
“Exel Composites expects revenue to increase significantly and adjusted operating profit to increase in 2018 compared to 2017.”
The previous outlook was:
“Exel Composites expects revenue as well as adjusted operating profit to increase in 2018 compared to 2017.”
Exel Composites publishes its Business Review for January-March 2018 on Wednesday 9 May 2018 at approximately 09:00 EET.
Vantaa, 23 April 2018
Exel Composites Plc
President and CEO