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Coil N.V. — Earnings Release 2011
Oct 20, 2011
8164_iss_2011-10-20_a3a12835-f19a-4344-9b12-a6121c7f1b44.pdf
Earnings Release
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World leader for aluminium anodising - http://investors.unitedanodisers.com ISIN: BE0160342011 - Reuters: ALUAN.PA - Bloomberg: ALUAN:FP
PRESS RELEASE
STRONG ORGANIC GROWTH MAINTAINED 2011 THIRD-QUARTER SALES UP 26%
Brussels, October 20th, 2011 (5:45 pm) – United Anodisers, the world leader for aluminium anodising, maintained a strong rate of growth over the third quarter of 2011, with sales climbing 25.9% to €7,190,000. For the first nine months of the year, sales rose to €23,149,000, up 26.1% on the same period the previous year.
Change in sales for each business
| (€'000) | 9 months 2011 |
Change | Q3 2011 | Change | ||
|---|---|---|---|---|---|---|
| Actual | Like-for like |
Actual | Like-for like |
|||
| Continuous anodising | 17,662 | +20.8% | +20.8% | 5,116 | + 14.6% |
+14.6% |
| Batch anodising | 5,487 | +46.8% | +49.6% | 2,074 | +66.7% | +75.8% |
| Consolidated sales | 23,149 | +26.1% | +26.6% | 7,190 | +25.9% | +27.9% |
Continuous anodising: continued dynamic growth
The continuous anodising branch has maintained a strong rate of growth, buoyed by the dynamic commercial development that has continued to be seen on traditional European markets, as well as emerging markets, particularly in Asia, where the Group is rolling out its range for new major architectural projects. In this context, sales for the third quarter of 2011 came in 14.6% higher than the third quarter of 2010. For the first nine months of 2011, sales totalled €17,662,000, up 20.8% in relation to the previous year. Following on from the development of sales in emerging markets, particularly in South Korea and China, the percentage of sales including metal climbed 50% to €1.8 million at the end of September 2011.
Batch anodising: acceleration in growth over the third quarter of 2011
In the UK, the third quarter confirmed the upturn on high-end construction markets; the period also reflects the transformation of the first orders sealed during the first half of the year on continental Europe. These developments can be seen with a clear acceleration in growth and quarterly sales climbing 66.7%. For the first nine months of 2011, sales came to €5,487,000, an increase of 46.8% compared with the same period the previous year (+49.6% at constant exchange rates).
Outlook
In a fragile and uncertain economic climate, particularly in Europe, United Anodisers is forecasting a slowdown in sales during the fourth quarter due to destocking in the distribution chain. To a certain extent, the increase in sales in Asia, including billing for metal, is expected to make up for this trend.
On this basis, the Group is forecasting over €28 million in sales for 2011, with growth of over 20% in relation to 2010, which is expected to be combined with a significant improvement in profitability.
This dynamic performance confirms the relevance of United Anodisers' development of a major industrial project in 2012 at the Bernburg site in Germany (budget of around €22 million). The creation of a sixth continuous anodising line will make it possible to significantly increase production capacity in order to support the development of sales in emerging markets.
NEXT DATE: 2011 sales in January 2012
To find out more, visit: http://investors.unitedanodisers.com
About UNITED ANODISERS
United Anodisers 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-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.
Alternext - ISIN: BE0160342011 - Reuters: ALUAN.PA - Bloomberg: ALUAN:FP
For further information, contact us at
UNITED ANODISERS
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 68 68