Exel Composites, which is the new company name for Exel Oy due to its new concentration on composite materials, reports an 11.4 percent decline in sales of continuing operations to €18.5 million for the first quarter of 2008. The operating margin on these operations declined to 10.8 percent from 12.9 percent a year ago. The reorganization of the group was completed in March with the sale of its remaining floorball business to Cape Nordic. Its outdoor business was sold to ESB Sports in June 2008.