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FIRST- HALF 2022 SALES UP BY 12.1%
CONFIRMED MOMENTUM IN TOLLING SALES: +18.5%
Brussels, 28 July 2022 (17.45) - COIL, world leader in aluminium anodising, announces sales of €13.9 million for the first half of 2022, up 12.1% compared to the first half of 2021. This performance was underpinned by the ongoing strong growth in Tolling service sales (+18%), which have higher margins than Package Sales, and highlights the business recovery to higher pre-pandemic levels. The increase in demand in Europe and the sales price increases implemented by the Company to compensate for cost inflation contributed to the increase in turnover over the half-year.
Sales evolution by quarter and by activity
+ 12.0 %
+ 12.2 %
+ 12.1 %
+ 18.5 %
- 12.5 %
Tolling services: sustained double-digit growth in the second quarter
Half-year sales of Tolling services amounted to €11.7m, up 18.5% compared to the first half of 2021, accounting for 83.8% of total sales, compared with 79.2% the previous year. In the second quarter, sales momentum remained strong (+11.4%) despite a less favourable comparison base than in previous quarters; it should be noted that sales in the second quarter of 2021 were up by +39.6%. Since the beginning of the year, in a context of strong growth in the construction and architectural end markets, demand has been fuelled by restocking by distributors in Europe due to their anticipation of higher aluminium prices.
Package Sales: recovery in the second quarter despite an unfavourable international environment
Half-yearly Package Offer sales, whereby the Company supplies continuously anodised aluminium directly to end customers, amounted to €2.3m, down -12.5% on the previous year. They accounted for 16.2% of total sales, compared with 20.8% the previous year. In the second quarter, sales increased by 17.6% due to a favourable base effect and were particularly dynamic in Europe in order to compensate for the lack of sales in Russia due to the conflict in Ukraine and in Asia due to the costs and delivery times for pre-anodised aluminium.
As COIL celebrates its 50th anniversary this year, the commercial performance of the first half of 2022, driven by an exceptionally high demand, confirms the high quality of the Company's products, customer confidence, employee mobilisation and the efficiency of its industrial facilities.
The impact of the two current major crises - the war in Ukraine and the Covid-19 epidemic - is generating significant short-term uncertainties, particularly with the rise in inflation, existing or potential shortages, and a weakening of the supply chain. In this context, the Company remains cautious and anticipates a slowdown in demand in the second half of the year and a return to a normal level of activity.
The Company remains confident in its prospects and has a solid financial position allowing for the increase of its business potential in the long term. With this in mind, the Company is investing in partnerships in environmentally neutral technologies in order to substitute its fossil fuel consumption with new renewable energy sources at attractive costs and with carbon neutrality objectives for the Bernburg industrial site in Germany.
First half 2022 results and half-year financial report (after close of trading)
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 around €25 million in 2021.
Listed on Euronext Growth Paris | Isin: BE0160342011 | Reuters: ALCOI.PA | Bloomberg: ALCOI: FP
For more information, please visit www.aloxide.com
1 Anodising and metal included