COIL : 2025 REVENUES - Improved activity in the second half despite a challenging market environment

2025 REVENUES

Improved activity in the second half despite a challenging market environment

COIL, the world leader in continuous aluminium anodising, today reports its revenues for the 2025 financial year. After a sharp decline in the first half, business momentum improved in the second half, driven by the recovery in tolling activity.

• Revenue by business line

• Business performance

In an environment characterised by weak demand in end markets and a deteriorated economic climate in Europe, COIL recorded full-year sales of €19.4 million, down 12.4% compared with 2024. Business momentum nevertheless improved significantly in the second half, with the decline in sales limited to 2.1%, supported by a return to growth in tolling activity, following a 22.5% decrease in the first half.

The year was also marked by several important international commercial milestones. COIL secured its first order with a new partner in India, strengthening its footprint in high-growth Asian markets. In addition, the successful delivery of a first significant project in Saudi Arabia before year-end reinforced the Company's commercial presence in the Middle East.

Over the full year, tolling sales reached €15.6 million, representing 80.6% of total sales, down 10.2% year-on-year. The comparison with 2024 is impacted by the inclusion of a significant rolling mill-related order for a project in China. After a sharp decline in the first half (-24.6%), driven by increased competition in Europe and very low inventory levels among metal distributors, activity rebounded in the second half (+5.8%), amid rising aluminium prices at the end of the period.

Packaged sales amounted to €3.8 million, accounting for 19.4% of sales, down 20.2% over the year. This decline reflects a slowdown in demand and an unfavourable comparison base, particularly in the fourth quarter of 2024, which had benefited from the delivery of large orders in Europe.

No licensing revenue was recognised under the strategic agreement in China during the 2025 financial year, compared with €2.0 million recorded in 2024.

• Outlook

In a still constrained economic environment, the Company enters the 2026 financial year with a significantly strengthened foundation. This new phase is supported by the capital increase completed in October 2025, the new Board of Directors approved by the General Meeting in November 2025, the implementation of a renewed management team dedicated to the operational execution of the recovery plan, and reinforced cost and overhead discipline.

As part of this strengthened governance framework, Marc Grocott has been appointed as Fractional Chief Financial Officer. A CIMA-qualified accountant, Marc Grocott brings a strong track record in finance and operations within industrial environments, including anodising-related activities. He will support the new Board of Directors in the continued implementation of the recovery plan launched in 2025, while providing the senior management team with enhanced visibility and insight into operational and financial performance.

Against this backdrop, COIL will continue in 2026 the disciplined adaptation of its business model, built around three strategic levers:

• ongoing cost and overhead optimisation, supported by close monitoring;
• industrial agility, enabling production capacity to be adjusted in line with demand developments, particularly in Europe;
• leveraging technological expertise to support strategic customers and expand into high-growth markets, notably in Asia, the Middle East and India.

At this stage, China is not included in the Company's budgets, given the current economic slowdown and reduced market visibility.

In parallel, COIL has initiated discussions with its banking partners to reshape its financing structure, supported by recent significant capital investments and the potential for additional funding if required.

Building on its differentiated technologies, flexible and ultra-modern industrial facilities in Belgium and Germany, its commitment to responsible production and the strong mobilisation of its teams, COIL approaches this phase with determination, aiming to turn current challenges into opportunities for sustainable long-term growth.

• Indicative 2026 calendar

Press releases are issued after close of trading.

About COIL

COIL is the world's leading anodiser in the building and industrial sectors and trades under the ALOXIDEÒ brand name.

Anodising is an electrochemical process (electrolysis) which develops a natural, protective oxide layer on the surface of aluminium and can be coloured in a range of UV-proof finishes. It gives the metal excellent resistance to corrosion and/or reinforces its functional qualities. Anodising preserves all the natural and ecological properties of aluminium; it retains its high rigidity and excellent strength-to-weight ratio, its non-magnetic properties, its exceptional resistance to corrosion. The metal remains totally and repeatedly recyclable through simple re-melting. Anodised aluminium is used in a wide variety of industries and applications: architecture, design, manufacturing, and the automotive sector.

COIL deploys an industrial model that creates value by leveraging its unique know-how, its operational excellence, the quality of its investments and the expertise of its people. COIL has more than 100 employees in Belgium and Germany and generated a business volume of €19.4 million in 2025.

Listed on Euronext Growth Paris | Isin: BE0160342011 | Reuters: ALCOI.PA | Bloomberg: ALCOI: FP

For more information, please visit www.aloxide.com

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^[1] Sales in which the Company supplies continuous anodised aluminium directly to the end customer (anodising and metal included).