COIL REVENUES FOR 2017
IN LINE WITH ITS EXPECTATIONS
Brussels, January 23, 2018 (5:45 pm) - COIL, the world leader for aluminium anodising, is reporting its full-year revenues for 2017.
Change in revenues for each quarter
(€'000) | 2017 | 2016 | Change |
1st quarter | 7,457 | 6,903 | + 8.0% |
2nd quarter | 6,904 | 8,579 | - 19.5% |
3rd quarter | 8,478 | 9,073 | - 6.6% |
4th quarter | 6,847 | 8,454 | - 19.0% |
Full year | 29,686 | 33,009 | - 10.1% |
Performances in line with expectations compared with an all-time high
Full-year revenues for 2017 came to €29,686,000, in line with the company's expectations. This is compared with a particularly high basis for comparison, with 32.3% growth and record revenues in 2016.
Sales of anodising services (€25,388,000) are down 9.7% from 2016, primarily affected by the significant volatility in demand from metal distributors faced with aluminium price fluctuations, particularly in the second and fourth quarters. This impact, compounded by the unfavourable basis for comparison, was partially offset by the diversification of the product-customer mix, particularly in the aluminium composite panels sector, in which COIL has continued to strengthen its positions.
Following a record year in 2016, sales of packaged offers (anodising with metal included) have consolidated their international development, with several major orders delivered in Europe, Asia and the US. For the full year, they came to €4,298,000 (-12.1%) and represent 14.5% of total revenues, versus 14.8% in 2016.
Strategic investment programme completed to further strengthen growth
During the year, COIL completed its major investment programme to expand and improve its industrial resources. In Germany, the Bernburg plant has doubled its production capacity, opening a new continuous anodising line and new logistics unit. This advanced line, which has been operational since the fourth quarter of 2017, is gradually ramping up. Since the start of 2018, it has been taking on production from Line 3 in Belgium to help satisfy the growing demand for thick metal for architectural markets.
In Belgium, following the major modernisation investments made on Lines 1 and 2 in previous years, COIL finalised the installation of an automated batch anodising line at the end of the year. Using the new Aloxide® process, this line is designed for the just-in-time production of small runs with large dimensional capabilities, while ensuring consistency with existing continuous anodised finishings.
This Aloxide® line is opening up new strategic opportunities for COIL. It will enable it to rapidly supply anodised aluminium sheets in reduced quantities, particularly for architectural projects. It also gives it additional capabilities to extend its product portfolio and access new end markets. The first orders processed on this line since it was brought into production at the start of 2018 have made it possible to confirm its outstanding technical features.
Outlook
With its reinforced and diversified industrial capabilities, COIL is effectively positioned to take on board its future growth and sustainably develop its value creation in an anodised aluminium market that has a very positive long-term outlook.
Indicative financial schedule for 2018
April 26, 2018 | 2017 full-year earnings and 2018 first-quarter revenues |
July 19, 2018 | 2018 first-half revenues |
October 2, 2018 | 2018 first-half earnings |
November 13, 2018 | 2018 third-quarter revenues |
Press releases are published after close of trading.
COIL is the world's largest architectural and industrial anodiser.
Anodising is an electrochemical process - electrolysis - that develops a natural and protective exterior layer on aluminium that can be coloured, providing exceptional corrosion protection and/or increased functionality for the metal.
Anodising preserves all the natural and ecological properties of aluminium - it retains its high strength-to-weight ratio, non-magnetic properties and exceptional corrosion resistance without any impact on the total and repeated recyclability of the metal.
Anodised aluminium is used across a wide range of architectural, designer, industrial and automotive applications. | Euronext Growth Paris ISIN: BE0160342011 - ALCOI Reuters: ALCOI.PA Bloomberg: ALCOI:EN www.coil.be COIL Tim Hutton Chief Executive Officer tim.hutton@coil.be Tel: +32 (0)11 88 01 88
CALYPTUS Cyril Combe cyril.combe@calyptus.net Tel: +33 (0)1 53 65 68 68 |
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