Here’s a SalkunRakentaja article about Exel, quoting Danske Bank analyst Waltteri Rossi. 
Danske Bank analyst Waltteri Rossi states in the bank’s analysis that Exel’s last year ended strongly with an order intake of 99 million euros, and the company appears to be on a growth path this year.
“Exel ended last year positively, with Q4 orders and revenue growing by 173 and 16 percent year-on-year. We expect the strong momentum to have continued in Q1 and estimate revenue of 30 million euros (+16.5 percent year-on-year, consensus 4.3 percent), supported by improved market sentiment and good demand across all segments,” Rossi states.
For January-March, Danske expects an adjusted operating profit margin of 4.3 percent. According to Rossi, the improvement in the revenue margin is supported by efficiency measures implemented last year, such as the closure of the Belgian factory, which should no longer have a significant negative impact in the first quarter.
Quite a vigorous change, and before, the fair value has been low 
Danske Bank changes the fair value range for Exel Composites’ share to 10.5–12.0 euros from the previous 0.7–0.8 euros. Currently, Exel’s share is priced at 7.8 euros.
EDIT:
Yep, above my message was a message about merging 
(I didn’t even believe in such a drastic change 
)