Exel Composites Oyj reported consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue was EUR 23,101,000 compared to EUR 20,394,000 a year ago. Operating profit was EUR 459,000 compared to EUR 1,549,000 a year ago. Adjusted operating profit was EUR 491,000 compared to EUR 1,605,000 a year ago. Profit for the period was EUR 12,000 compared to EUR 1,089,000 a year ago. Net cash flow used in operating activities was EUR 1,611,000 compared to EUR 2,067,000 a year ago. Adjusted operating profit was EUR 491,000 compared to EUR 1,605,000 a year ago. Return on capital employed 3.1% compared to 14.0% a year ago.

For the nine months, the company reported revenue was EUR 69,897,000 compared to EUR 63,841,000 a year ago. Operating profit was EUR 3,411,000 compared to EUR 4,693,000 a year ago. Adjusted operating profit was EUR 4,249,000 compared to EUR 4,992,000 a year ago. Profit for the period was EUR 1,992,000 compared to EUR 3,256,000 a year ago. Net cash flow used in operating activities was EUR 334,000 compared to EUR 2,148,000 a year ago. Earnings per share were 0.17 compared to 0.27 a year ago. Return on capital employed 8.7% compared to 15.2% a year ago.

For the full year 2018, Company revised earnings guidance expects revenue to increase and adjusted operating profit to decrease in 2018 compared to 2017.