COIL: 2023 FIRST HALF SALES
27 Juillet 2023 - 5:45PM
COIL: 2023 FIRST HALF SALES
SLOWER FIRST HALF
SALES IN 2023
CONTRASTING PERFORMANCE
BETWEEN ACTIVITIES
Brussels, 27 July 2023 (17.45) - COIL, world
leader in the continuous anodising of aluminium in coil formg,
announces sales of €11.8M for the first half of 2023, down 15.4%
compared with the first half of 2022, which was boosted by
exceptionally high demand. Tolling Sales were impacted by a
challenging environment marked by a sharp slowdown in demand, while
Package Sales registered solid growth driven by the turnaround in
the European project business.
- Sales evolution by quarter
and by activity
|
(€M) |
2023 |
2022 |
Variation |
|
Q1 |
6.41 |
6.61 |
- 3.1 % |
|
Q2 |
5.39 |
7.34 |
- 26.6 % |
|
Half-year total |
11.80 |
13.95 |
- 15.4 % |
|
Of which |
|
|
|
|
Tolling Sales |
9.28 |
11.68 |
- 20.6 % |
|
Package Sales1 |
2.52 |
2.27 |
+ 11.1 % |
- Tolling
services: sharp slowdown in
demand
In a difficult market environment, half-year
tolling sales were €9.3M, down 20.6% compared with the first half
of 2022. This represented 78.7% of total sales, compared with 83.8%
the previous year. This decline was due
to:i) an unfavourable basis of
comparison with sales in the first half of 2022 (+18.5%) still
boosted by the post-COVID-19 supply shortages,
ii) metal distributors'
conservative expectations of market trends based on a sharply lower
LME price of aluminium, leading them to maintain their inventories
at minimum levels in the short term, and
iii) the emergence of a new
competitor in the European continuous anodising market.
- Package
Sales: recovery in project
business
Half-year sales of Package Offers, in which the
Company supplies continuous anodised aluminium directly to the end
customer, came to €2.5M, up 11.1% on the previous year. This
represented 21.3% of total sales, compared with 16.2% the previous
year. This recovery in the Company's direct sales is mainly due to
the increase in deliveries for high-end architectural projects in
Europe. In addition, the Company has a solid pipeline of projects
in Asia, which should translate into new orders by the end of the
year.
In the short term, the decline in tolling
activities and the product mix shift in favour of Package Offers
will impact COIL's gross margin and results. To cope with this, the
Company is optimising its operations by adjusting pricing in line
with inflation, consolidating production on a limited number of
lines and optimising its variable cost base.. The investments made
over the past few years and the flexibility of its industrial
facilities will allow the Company to respond effectively to an
expected upturn in subcontracting markets later this year..
In the medium and long term, the Company is
confident in its development prospects, capitalising on its broad
portfolio of premium, sustainable products with a lower carbon
footprint, thereby boosting its business potential.
|
|
First half 2023 results and half-year financial report (after close
of trading) |
About COIL
COIL is the world's leading anodiser in the
building and industrial sectors and trades under the ALOXIDE brand
name.
Anodising is an electrochemical process
(electrolysis) which develops a natural, protective oxide layer on
the surface of aluminium and can be coloured in a range of UV-proof
finishes. It gives the metal excellent resistance to corrosion
and/or reinforces its functional qualities. Anodising preserves all
the natural and ecological properties of aluminium; it retains its
high rigidity and excellent strength-to-weight ratio, its
non-magnetic properties, its exceptional resistance to corrosion.
The metal remains totally and repeatedly recyclable through simple
re-melting. Anodised aluminium is used in a wide variety of
industries and applications: architecture, design, manufacturing
and the automotive sector.
COIL deploys an industrial model that creates
value by leveraging its unique know-how, its operational
excellence, the quality of its investments and the expertise of its
people. COIL has around 110 employees in Belgium and Germany and
generated a turnover of €26,5 million in 2022.
Listed on Euronext Growth Paris | Isin:
BE0160342011 | Reuters: ALCOI.PA | Bloomberg: ALCOI: FP
For more information, please visit
www.aloxide.com
Contact
|
COILTim Hutton | Chief Executive Officer
tim.hutton@coil.be | Tél. : +32 (0)11 88 01 88 |
CALYPTUSCyril Combe cyril.combe@calyptus.net |
Tél. : +33 (0)1 53 65 68 68 |
1 Anodising and metal included
COIL (EU:ALCOI)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
COIL (EU:ALCOI)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
