COIL : 2017 FIRST-HALF REVENUES
July 20 2017 - 11:45AM
2017 FIRST-HALF
REVENUES: €14.4 MILLION
Brussels, July
20, 2017 (5:45 pm) - COIL, the world leader for aluminium
anodising, is reporting its revenues for the first half of
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% |
Total
first-half |
14,361 |
15,482 |
- 7.2% |
Temporary
slowdown in sales for the second quarter
Sales for the second quarter of
2017 are compared with a high reference basis, following 36.2%
growth for the second quarter of 2016. In addition, various
external factors temporarily affected business over the period.
Against a backdrop of volatile
aluminium prices, sales of anodising services have been held back
primarily by the wait-and-see approach adopted by distributors,
which adjusted their stocks of metal during the period. This
recurrent temporary phenomenon, compounded by an unfavourable base
effect, masked the good level of sales achieved on new industrial
markets, particularly for aluminium composite panels. As a result,
anodising services (€6,361,000 for the second quarter of 2017) are
down 15.2% year-on-year, but relatively stable compared with the
first quarter of this year (-0.5%).
Sales of packaged offers
(anodising with metal included) have consolidated their commercial
development, particularly in Asia. Following the high levels of
deliveries from the last few quarters, sales for the second quarter
of 2017 came to 8% of quarterly revenues, compared with a
particularly high quarterly reference in 2016. Over the full
half-year period, they represented 11.2% of revenues, compared with
11.6% for the first six months of 2016.
Major investment
cycle completed in Germany
From an industrial perspective,
COIL has capitalised on this period to finalise the installation of
its new continuous anodising line at its ultramodern Bernburg site
in Germany.
Since July, initial production
tests have been underway to validate the line's quality,
productivity and reliability. They are already covering natural
anodised materials and will be extended in September to include
coloured anodised production. The aim is for this line to be
operational five days a week, 24 hours a day from the fourth
quarter of 2017.
When this new line moves into
production, this will enable COIL to further strengthen its
production capacity by up to 15,000 tonnes per year, in addition to
the 50,000 tonnes of current capacity delivered by the five other
existing lines in Belgium and Germany. Combining the best
technological and environmental standards, this line will help
satisfy the growing, sustainable demand for thick metal for
architectural markets. More specifically, it will enable the
continuous processing of aluminium coils up to 2 m wide and 3 mm
thick with a vast range of finishings and colours.
Outlook
COIL is expected to deliver solid
profitability for the first half of 2017, despite the contraction
in sales over the period linked to the general economic
environment.
For the second half of the year,
COIL is forecasting a gradual improvement in its sales despite an
unfavourable base effect, which will continue to have an adverse
impact in the third quarter. Consolidated by the improvement in
market conditions, this trend is supported by the sustainably
positive outlook for subcontracting activities and reflected in a
better level of orders since the end of June 2017.
Alongside this, COIL will be
completing its major investment cycle, with not only its new
continuous anodising line in Germany moving into production, but
also a next-generation unit anodising line being set up in Belgium
in the fourth quarter of 2017.
These major investments will help
bring high levels of available production capacity on board, with
flexible facilities at the forefront of innovation, to ensure
sustainable support for COIL's growth and effectively capitalise on
its markets' potential.
Next date:
2017 first-half earnings on October 3, 2017 (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
(previously Alternext)
ISIN: BE0160342011 - ALCOI
Reuters: ALCOI.PA
Bloomberg: ALCOI:FP
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 |
2017 FIRST-HALF REVENUES
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: COIL via Globenewswire
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