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Exel Composites confirms its strategy and long-term financial targets and introduces a target for net gearing

EXEL COMPOSITES PLC – STOCK EXCHANGE RELEASE – 18 JUNE 2019 at 09:00 EET

The Board of Directors of Exel Composites has confirmed the company’s strategy and long-term financial targets for 2019-2022. A new financial target related to net gearing was also introduced.

Exel Composites’ long-term financial targets are:

  •  Growth: Revenue growth exceeding twice the market growth
  •  Profitability: Adjusted operating profit margin exceeding 10%
  •  Capital efficiency: Return on capital employed exceeding 20%
  •  Financial position: Net gearing approximately at 60% or below

Financial targets are considered over a business cycle. Potential acquisitions may impact the long-term financial targets. The dividend policy remains unchanged.

Exel Composites’ overall strategic direction for 2019-2022 remains unchanged and is based on five pillars:

  1. Protect and grow our stronghold customers providing superior customer experience
  2. Build leadership in China
  3. Penetrate growing/ new applications
  4. Create true global footprint
  5. Grow in new technologies

Vantaa, 18 June 2019

Exel Composites Plc
Riku Kytömäki, President and CEO