Manufacturing Industry
EXEL OYJ'S INTERIM REPORT JANUARY-MARCH 2002.
Advanced Materials & Composites News, May, 2002
Summary - Industry division's net sales remained unchanged at EUR 6.6 million. The antenna profile market is still very quiet. - Net sales in the Sport division fell by 12% to EUR 6.2 million. The surf mast market is quiet in the US. - Total sales amounted to EUR 12.8 million. Operating profit decreased by 31% to EUR 0.9 million due to lower sales volumes
Operating environment Market conditions continued to be tight in the first quarter of 2002. The economy is in the middle of a recession in Continental Europe and many customers are behaving cautiously. This is reflected in the level of deliveries ordered from Exel. Signs of a revival in demand are emerging, however. There are plenty of enquiries about new FRP composite profiles and a great many offers are...
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