Exel has reported a Q3 2021 revenue increase of 28.2% to €33.4 million, up from €26 million in the same period of 2020.
Order intake increased by 0.2% to €24.6 million, up from €24.5 million.
For the first three quarters of 2021, revenue increased by 20.7% to €97.9 million (€81.1 million in 2020), and order intake increased by 34.3% to €110.1 million.
The company says that it expects 2021 revenue to amount to €125-135 million and adjusted operating profit to €5.8-7.0 million.
‘In the third quarter of 2021, our revenue continued to develop strongly,’ said president and CEO, Riku Kytömäki. ‘At the same time, group profitability declined substantially in comparison to the previous year. […] Our primary focus now is on improving operational efficiency and profitability, especially in the manufacturing unit in the United States. High revenue and order intake together with the business prospects stemming from our global presence, including from now on also the Indian market, provide a good foundation for the future.’
This story uses material from Exel, with editorial changes made by Materials Today.
