COIL REVENUES FOR THE FIRST NINE MONTHS OF 2017: €22.8 MILLION
Brussels, November 14, 2017 (5:45pm) - COIL, the world leader for aluminium anodising, is reporting its revenues for the first nine months 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% |
| 3rd quarter | 8,478 | 9,073 | - 6.6% |
| Total for 9 months | 22,840 | 24,555 | - 7.0% |
Positive momentum in the third quarter
After slowing down in the second quarter, COIL's revenues picked up again in the third quarter to reach a high level of €8,478,000. While sales are down 6.6% factoring in a high basis for comparison (the third quarter of 2016 saw 53.8% growth), they are still 3% higher than the quarterly average for 2017.
Sales of anodising services followed on from the second quarter and reflect a certain wait-and-see approach among distributors faced with volatile aluminium prices. In this environment, anodising services (€6,621,000 for the third quarter of 2017) are down 13.9% year-on-year. However, sales show sequential growth of 4.1% versus the second quarter of 2017, with a reversal of their trend, particularly at the end of the period. For the first nine months of 2017, they are down 9.4% year-on-year.
Sales of packaged offers (anodising with metal included) are accelerating their commercial development, particularly in Asia. Sales for the third quarter of 2017 came to 21.9% of revenues for the quarter, versus 15.2% for the third quarter of 2016. For the first nine months of the year, they represent 15.2% of revenues, compared with 12.9% for the same period in 2016.
Outlook
COIL is confirming its target for full-year revenues of nearly €30 million. In addition, following the opening of a sixth continuous anodising line in Germany, COIL will complete its major strategic investment cycle in the fourth quarter, with the installation of its automated batch anodising line in Belgium. With its strong production capacity and extensive product portfolio, COIL will benefit from increased potential from 2018 to further strengthen its dynamic, profitable growth around long-term foundations.
Next date: 2017 full-year revenues on January 23, 2018 (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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Source: COIL via Globenewswire
