2020 FIRST HALF SALES

COIL CONFIRMS ITS RESILIENCE IN A VERY CHALLENGING MARKET

2020 FIRST HALF SALES:
COIL CONFIRMS ITS RESILIENCE IN A VERY CHALLENGING MARKET

COIL, world leader in aluminium anodising, announces sales of €11.7 million for the first half of 2020, a limited decrease of 3% compared to the first half of 2019. The development of Package Sales (+97%), where the Company supplies continuous anodised aluminium directly to the end customer, offset the fall in Tolling Services (-19%) as a direct result of the COVID-19 health crisis.

v  Sales evolution by quarter and by activity

(€M)	2020	2019	Variation
Q1	5.65	5.46	+ 3.5 %
Q2	6.04	6.63	- 9.0 %
Half-year total	11.69	12.09	- 3.3 %
Of which
Tolling Sales	8.52	10.48	- 18.7 %
Package Sales1	3.17	1.61	+ 97.0 %

v  Contraction of tolling activities in a deteriorating economic environment

Sales of tolling services were affected by the health crisis linked to the Covid-19 pandemic, which led to a deterioration in the rolling mill and distribution market with business interruptions, destocking and a downward revision of short-term forecasts. In this context, tolling sales over the first half of the year (€8.52 million) were down by 19% compared to the first half of 2019 representing 72.9% of half-year sales, compared with 86.7% in the same period in 2019. The company responded rapidly by in demand by restructuring its production capacity in Belgium and Germany in order to make its costs as variable as possible. The company has continued to operate throughout the crisis.

v  Ongoing strong growth in Package Sales and sales diversification

Package Sales confirm the dynamic growth of the Company's direct sales to a worldwide customer base under the ALOXIDE brand. With nearly 550 tons of anodised aluminium delivered during the first half, sales of these products amounted to €3.2 million, up 97% compared to the first half 2019, and represented 27.1% of the half-year sales, compared to 13.3% in the same period in 2019. These developments will strengthen the Company's position in new high-end markets in Europe and Asia; the company continues to record high order intake on the back of a comprehensive sales plan and ambitious marketing initiatives.