2020 SALES CLOSE TO TARGET AT €23M
COIL, world leader in aluminium anodising, announces annual Sales of €23 million for the 2020 financial year, down 23% compared with 2019, but close to the target of €24 million. Tolling Sales were adversely impacted throughout the financial year by the consequences of the Covid-19 pandemic on the activity of European rolling mill customers and distributors. Package Sales reached a historically high level compared to a record year in 2019.
❖ Sales evolution by quarter and by activity
+ 3.5 %
- 9.0 %
- 50.3 %
- 14.5 %
- 22.8 %
- 21.9 %
- 24.9 %
❖ Tolling Sales: negative impact of the crisis on rolling mill and distributor demand
Tolling Sales (€16.2 million) were 22% lower than in 2019 and accounted for 70.5% of annual sales, compared with 69.7% in 2019. They were impacted by the sharp fall in demand from rolling mills and distributors in Europe in an unprecedented environment dominated by disruptions in the supply chain at the start of the pandemic, temporary stoppages in several industry sectors and significant destocking in the distribution chain.
Against this backdrop, the Company reorganised its production capacity at its two sites in Belgium and Germany from the outset of the crisis in order to maximise the variability of production costs, while at the same time implementing reinforced sanitary measures.
❖ Steady Package Sales despite the economic environment and an unfavourable basis for comparison
Package Sales, where the Company supplies continuously anodised aluminium directly to the end customer under the ALOXIDE® brand name, decreased by 25% to €6.8 million and represented 29.5% of annual sales, compared with 30.3% in 2019. These figures contrast with a record year in 2019, which included major orders delivered in China during the second half of the year. After a downturn in the third quarter, the end of 2020 was stronger, with sales comparable to the previous year, despite the postponement of a €0.9 million shipment which, at the customer's request, was delivered and invoiced in January 2021.
In a challenging environment, the achievements in the 2020 financial year confirm the relevance of the actions undertaken to diversify the Company's end markets and support its direct sales under the ALOXIDE® brand.
Although the future economic environment resulting from the pandemic remains uncertain, the Company is confident in its development plan, which capitalises on a diversified portfolio of premium, sustainable and lower carbon footprint anodised product, with significant new market opportunities worldwide, particularly in the construction and architectural industries.
With a flexible and efficient industrial organisation, a growing geographic footprint and a solid financial position, COIL is able to respond successfully to customer needs and a rapid recovery in demand in all of its end markets.
❖ Indicative 2021 calendar
● 30th April 2021
2020 annual results and annual financial report
● 2nd June 2021
Annual General Meeting
● 28th July 2021
First half 2021 sales
● 29th October 2021
First half 2021 results and half-year financial report
Press releases are issued after close of trading.
COIL is the world's leading anodiser in the building and industrial sectors and trades under the ALOXIDEÒ brand name.
Anodising is an electrochemical process 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 130 employees in Belgium and Germany and generated a turnover of around €30 million in 2019.
Listed on Euronext Growth Paris | Isin: BE0160342011 | Reuters: ALCOI.PA | Bloomberg: ALCOI: FP
For more information, please visit www.coil.be
1 Anodising and metal included