Items impacting financial result

Key items impacting financial result


Exel Composites’ main cost items impacting profitability are:

Income taxes

The table above shows the income tax reconciliation and the total income tax amount (tax charge) as reported in the accounting. Cash flow effect of the actually paid income taxes was in 2018 EUR 2.4 million (0.7).

Exchange rates

Exel Composites’ functional currency is euro. Other key currencies for the Group are AUD (Australia), GBP (United Kingdom), RMB (China), USD (USA) and HKD (Hong Kong).

In 2019 exchange rates impacted revenue by 0.6%.

Debt structure and covenants

The Group’s exposure to the risk of changes in the market interest rates relates primarily to the Group’s loans. The effect of one percentage point in the interest rates on 31 December 2019 was EUR 324 (296) thousand.

Non-current interest-bearing loans and borrowings

Current interest-bearing loans and borrowings


Exel Composites Oyj, Vantaa head office, Mäkituvantie 5, FI-01510 Vantaa, Finland