COIL’s revenue declines 10% in 2017
COIL, the world leader for aluminium anodising, announced its full year revenue for 2017. The company’s revenue was down 10.1 per cent from 2016.
The company generated revenue of €29.6 million in 2017, down from €33 million in 2016. The company said revenues in the fourth quarter of 2017 fell 19 per cent to €6.8 million from €8.4 million in 2016.
COIL’s sales of anodising services registered €25.3 million, down 9.7 per cent from 2016, due to significant volatility in demand from metal distributors faced with aluminium price fluctuations, particularly in the second and fourth quarters.
“Following a record year in 2016, sales of packaged offers (anodising with metal included) have consolidated their international development, with several major orders delivered in Europe, Asia and the US. For the full year, they came to €4,298,000 (-12.1%) and represent 14.5% of total revenues, versus 14.8% in 2016,” it said.
The company completed investment programme to expand and improve its industrial resources in 2017.
COIL said that its Bernburg plant doubled its production capacity, opening a new continuous anodising line and new logistics unit. In Belgium, the company finalised the installation of an automated batch anodising line at the end of the year.
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