(AOF) – Coil, the world number one in aluminum anodizing, announces a turnover of 21.8 million euros for the 2023 financial year, down 17.5% compared to 2022. Sales were impacted by a difficult economic environment, marked by the clear slowdown in demand for subcontracting services throughout the financial year and the decline in packaged activities since the second half compared to a high comparison base.
“After two years of growth in 2021 (+ 9.7%) and 2022 (+ 4.9%) driven by the post-Covid recovery, the company’s sales fell significantly in 2023 in an environment dominated by the slowdown of global growth, declining demand in end markets and continued increases in economic and geopolitical uncertainties,” Coil said.
In 2023, subcontracting sales (17.4 million euros) fell by 15.3% compared to 2022 and represented 79.9% of annual turnover, compared to 77.8% for the year former.
Packaged sales (4.4 million euros), which include pre-anodized metal directly supplied to the end customer, recorded a decline of 25% compared to a high comparison base in 2022 which was up 14. 8%. They represented 20.1% of 2023 annual turnover, compared to 22.2% the previous year.
In terms of outlook, Coil remains cautious for the first half of the 2024 financial year. “The macroeconomic environment remains difficult and the persistent weakness in demand should continue to weigh on the recovery in subcontracting services volumes in the short term. Nevertheless , the flexibility of its industrial tools will allow it to react quickly to an improvement in demand during this financial year,” explains Coil.
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