Earnings Release • Jul 22, 2010
Earnings Release
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World leader for aluminium anodising - http://investors.unitedanodisers.com ISIN: BE0160342011 - Reuters: COIL.LN - Bloomberg: COI FP
Brussels, July 22nd, 2010 (5:45 pm) – United Anodisers, the world leader for aluminium anodising, recorded €12,654,000 in sales for the first half of 2010, an increase of 14.1% in relation to the same period the previous year. The upturn in the continuous anodising business was confirmed during the second quarter of 2010, with sales climbing 14.6% compared with the second quarter of 2009.
| (€'000) | H1 2010 | Change | Q2 2010 | Change | ||
|---|---|---|---|---|---|---|
| Actual | Like-for like |
Actual | Like-for-like | |||
| Continuous anodising | 10,161 | + 29.2% | + 29.2% | 5,123 | + 14.6% | 14.6% |
| Batch anodising | 2,493 | -22.7% | -24.7% | 1,136 | -29.3% | -31.3% |
| Consolidated sales | 12,654 | + 14.1% | + 13.5% | 6,258 | + 3.0% | + 2.5% |
The continuous anodising branch recorded €10,161,000 in sales during the first half of 2010, up 29.2% on the first half of 2009. This growth in sales reflects the continued upturn in business, with demand gradually picking up again in western countries, further strengthened by the restocking seen.
Following a first quarter of 2010 which saw a strong increase compared with a particularly weak first quarter in 2009, growth remained sustained during the second quarter of the current year.
In the UK, in an unfavourable economic environment, particularly in the construction industry, batch anodising activities saw sales slide 22.7% to €2,493,000 during the first half of the year. Foreign exchange effects had a positive impact of €64,000 on sales for the period. At constant exchange rates, business contracted by 24.7%.
While moving forward with its aggressive marketing strategy built around new products and the active development of new regional markets, United Anodisers is continuing to pay close attention to all its expenditures with a view to optimising its profitability.
In view of this, EBITDA is expected to be significantly higher for the first half of 2010 compared with the first six months of 2009 thanks to the benefits of the programmes to adapt production to demand and reduce costs.
For the full year, in light of the expected improvement in business and the level of margins, combined with good visibility over its cost structure, United Anodisers is confident that it will be able to return to a positive net profit.
NEXT DATE: 2010 first-half earnings in September 2010
United Anodisers, the Belgian Group listed on NYSE Euronext Paris Compartment C since June 26th, 1996, is the world's largest architectural and industrial anodiser, specialising in the surface treatment of aluminium extrusions, castings and flat-rolled products.
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-toweight 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.
COIL - Tim Hutton - Chief Executive Officer – [email protected] - Tel: +32 (0)11 88 01 88 CALYPTUS – Cyril Combe – [email protected] -Tel: +33 (0)1 53 65 37 94
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