EXEL COMPOSITES
Loss-making sports business divested / Concentrating on composite profiles for technical applications
The divestment of the floorball (indoor hockey) business, which was concluded on 30 March 2009, marks the complete withdrawal of Exel (Mäntyharju / Finland; www.exel.net) from the sports business. At the same time, this supplier of wound and pultruded composite profiles has been renamed Exel Composites.
Exel's sales were EUR 94.9m in 2008 (EUR 113.5m in 2007). Profiles accounted for EUR 86.7m of this and sports articles for the remainder. The company made an operating loss (EBIT) of EUR 0.4m in 2008 versus a profit of EUR 4.2m in 2007. The technical products achieved EBIT of EUR 9.2m but this was negated by a loss of around the same amount on the sports brands. Overall, Exel made a net loss of EUR 3m in 2008, compared with a profit of EUR 2m in 2007.
Exel's sales were EUR 94.9m in 2008 (EUR 113.5m in 2007). Profiles accounted for EUR 86.7m of this and sports articles for the remainder. The company made an operating loss (EBIT) of EUR 0.4m in 2008 versus a profit of EUR 4.2m in 2007. The technical products achieved EBIT of EUR 9.2m but this was negated by a loss of around the same amount on the sports brands. Overall, Exel made a net loss of EUR 3m in 2008, compared with a profit of EUR 2m in 2007.
28.04.2009 Plasteurope.com [213274]
Published on 28.04.2009
German version of this article...