Exel Composites (EXEL) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 59.3% YoY to EUR 38.4m; adjusted operating profit reached EUR 3.4m, with an 8.8% margin, reflecting higher volumes and operational improvements.

• Q3 order intake rose 42% to EUR 38.2m, matching revenue; backlog was EUR 97.9m, nearly double year-ago levels.

• Q1–Q3 revenue increased 39.1% to EUR 103.2m; order intake rose 14.6% to EUR 103.0m.

Financial highlights

• Q3 reported and adjusted operating profit were both EUR 3.4m, versus EUR 0.4m and EUR 0.9m, respectively; margins were 8.8%, versus 1.8% and 3.9%.

• Q1–Q3 reported operating profit was EUR 7.3m and adjusted operating profit EUR 7.4m; profit for the period was EUR 5.6m versus a EUR 5.6m loss.

• Diluted and undiluted Q1–Q3 EPS was EUR 0.76, versus EUR -0.73.

Outlook and guidance

• FY 2026 guidance unchanged: revenue and adjusted operating profit expected to increase significantly YoY; Q4 growth expected to moderate after two exceptionally strong quarters.

• Full production capacity for the Suzlon agreement targeted by end-Q1 2027; delivery volumes and timing depend on purchase orders and production needs.