Earnings Release • Jan 24, 2011
Earnings Release
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World leader for aluminium anodising - http://investors.unitedanodisers.com ISIN: BE0160342011 - Reuters: COI.PA - Bloomberg: UAS:FP
PRESS RELEASE - REGULATED DISCLOSURE 2010 full-year sales
Brussels, January 24th, 2011 (7 am) – United Anodisers, the world leader for aluminium anodising, is announcing €23,333,000 in sales for 2010, up 4.6% in relation to 2009. United Anodisers is able to confirm its forecast for earnings growth over the full year, driven by strong growth in the continuous anodising business.
| (€'000) | 12 months 2010 |
Change | Q4 2010 | Change | ||
|---|---|---|---|---|---|---|
| Actual | Like-for like |
Actual | Like-for-like | |||
| Continuous anodising | 18,505 | + 16.2% | + 16.2% | 3,879 | - 6.1% | - 6.1% |
| Batch anodising | 4,828 | - 24.5% | - 27.2% | 1,090 | - 24.8% | - 28.4% |
| Consolidated sales | 23,333 | + 4.6% | + 3.8% | 4,969 | - 11.0% | - 11.9% |
In 2010, the continuous anodising branch recorded a clear upturn in business, with sales climbing 16.2% compared with the previous year to €18,505,000. This growth in business confirms the improvement in demand in a buoyant aluminium market over 2010.
The slowdown seen in the fourth quarter reflects a temporary shortage of metal on the market set against a backdrop of high demand. In this way, the reduced availability of the high-quality metal required for continuous treatments slowed sales growth down temporarily, with 2010 fourth-quarter sales coming in at €3,879,000, down 6.1% compared with the same period the previous year.
In the UK, while the construction and building market is showing the first signs of a recovery, the batch anodising business is not yet benefiting from this situation on account of the nature of the Group's activities (involvement at the end of building projects). In this context and as expected, 2010 sales are down 24.5% to €4,828,000. Excluding foreign exchange effects (positive impact of €172,000), business is down 27.2% at constant exchange rates.
Visibility for 2011 is gradually improving with the emergence of several major high-end and high-value added architectural projects.
The full impacts of the growth in consolidated sales over the whole year, combined with the actions carried out to ensure effective control over costs, will be seen in 2010. In view of this, United Anodisers is able to confirm its forecast for a return to a positive net profit, achieving a very strong improvement compared with 2009.
As far as the outlook for 2011 is concerned, United Anodisers is forecasting further growth in its business, in line with the positive trend for demand in western countries and the aggressive marketing strategy which is continuing to be rolled out around new products and new regional markets.
The new credit facilities put in place at the end of 2010 have contributed to improving the long-term operating and financing conditions. While consolidating the Group's strategy, the backing from Banca Monte Paschi Belgio and BNP Paribas Fortis highlights United Anodisers' sound financial position.
NEXT DATE: 2010 full-year earnings in April 2011
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.
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 37 94
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