Coil

2023 Sales of €21.8m Impacted by a Challenging Economic Environment - Seite 2

• Tolling Sales: slowdown in an uncertain economic climate
  
  

Against a difficult market backdrop, Tolling Sales (€17.4M) were down by 15.3% compared with 2022, and accounted for 79.9% of 2023 annual sales, compared with 77.8% the previous year. Sales were adversely affected by i) the cyclical slowdown in demand resulting from metal distributors' conservative expectations due to the weakness of the LME aluminium price, which reached a low point during the year, prompting them to keep their inventories at minimum levels, and ii) the loss of market share due to the emergence of a competitor in the European continuous anodising market. However, Q4 sales showed a turning point, with sales virtually stable compared with the same period last year.

• Package Sales: decline against strong comparatives

Package Sales (€4.4M), which include pre-anodised metal supplied directly to the end customer, were down -25.0% against a high basis of comparison in 2022, which was up +14.8%. They accounted for 20.1% of annual sales in 2023, compared with 22.2% the previous year. This trend is attributable to the slowdown in demand in Europe, particularly in the second half of the year, after two years of dynamic growth in 2021 and 2022 due to the delivery of major orders. In 2023, to further support the diversification of its sales, the Company stepped up its sales drive in Asia. The slowdown in the Chinese economy does not appear to have had a major impact on major infrastructure projects.

• Outlook 
  
  

COIL is maintaining a cautious approach for the first half of the 2024 financial year. The macroeconomic environment remains uncertain, and the persistent weakness in demand is likely to continue to weigh on the recovery in subcontracting volumes in the short term. Nevertheless, the flexibility of its industrial facilities will enable it to react quickly to an improvement in demand during the course of the year. In parallel, the Company is pursuing its diversification strategy by strengthening its geographical presence in mature and emerging markets through the development of its Package offers.

The Company is confident in its longer-term development prospects, capitalising on its broad portfolio of premium, sustainable products with a smaller carbon footprint to boost its business potential.

• Indicative 2024 calendar
  
  

30 April 2024	2023 annual results and annual financial report
5 June 2024	Annual General Meeting
30 July 2024	First half 2024 sales
31 October 2024	First half 2024 results and half-year financial report

Press releases are issued after close of trading.