Exel Composites Oyj

Earnings Release • Apr 24, 2018

Disclosure 360938

Exel Composites Oyj - Inside information

Addition to Exel Composites’ stock exchange release published on 23 April 2018 at 16:25 EET concerning the acquisition of DSC

EXEL COMPOSITES PLC STOCK EXCHANGE RELEASE 24 April 2018 at 09:45 EET Referring to Exel Composites’ stock exchange release published on 23 April at 16:25 EET concerning the acquisition of Diversified Structural Composites, Inc. (“DSC”), Exel Composites publishes additional information about DSC’s prior profit development and financial position. The figures are based on financial statements for the fiscal years 2016 and 2017 that have been prepared in accordance to US GAAP accounting standards. The financial statements are not separately audited, however, they have been reviewed by the auditor as part of the group audit. INCOME STATEMENT USD thousand 1.4.2017-31.3.2018 1.4.2016-31.3.2017 Revenue 19,181 11,790 Materials and services -10,161 -5,777 Employee benefit expenses -6,083 -4,752 Depreciations -41 -491 Other operating expenses 1) -3,549 -4,899 Other operating income 18 0 Operating profit -635 -4,129 Net financial items 2) -375 -184 Profit before tax -1,011 -4,313 Income taxes 0 0 Profit/loss for the period -1,011 -4,313 1) Other operating expenses include in the fiscal year ending in March 2017 totally USD 2,001 thousand one-off type impairment losses. 2) Net financial items include interest expenses USD 375 thousand (USD 184 thousand in 2017) from parent company loans not to be transferred to Exel. BALANCE SHEET USD thousand 1.4.2017-31.3.2018 1.4.2016-31.3.2017 ASSETS Non-current assets Tangible assets 533 0 Other non-current 22 0 assets Non-current assets 555 0 total Current assets Inventories 3,685 1,859 Trade and other 4,198 1,837 receivables Cash at bank and in 15 0 hand Total current assets 7,898 3,696 Total assets 8,454 3,696 EQUITY AND LIABILITIES Shareholders´ equity Share capital 0 0 Invested unrestricted 15,261 15,261 equity fund Retained earnings -24,479 -20,166 Profit for the period -1,011 -4,313 Total equity -10,228 -9,217 Non-current liabilities Interest-bearing 0 0 liabilities Interest-free 0 0 liabilities Total non-current 0 0 liabilities Current liabilities Interest-bearing 0 0 liabilities Trade and other non 18,682 12,914 -current liabilities 1) Total liabilities 18,682 12,914 Total equity and 8,454 3,696 liabilities 1) Other non-current liabilities include USD 14,113 thousand (USD 11,224 thousand in 2017) of liabilities (mainly loan payables to the current owner of Diversified Structural Composites), which are not to be transferred to Exel. Vantaa, 24 April 2018 Exel Composites Plc For further information, please contact: Mikko Kettunen, CFO tel. +358 50 347 7462 mikko.kettunen@exelcomposites.com Distribution Nasdaq Helsinki Ltd Main news media www.exelcomposites.com Exel Composites in brief Exel Composites (www.exelcomposites.com) is a leading composite technology company that designs, manufactures and markets composite products and solutions for demanding applications. Exel Composites provides superior customer experience through continuous innovation, world-class operations and long-term partnerships. The core of the operations is based on own, internally developed composite technology, product range based on it and strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The employees' expertise and high level of technology play a major role in Exel Composites’ operations. Exel Composites Plc share is listed in Nasdaq Helsinki Ltd.