Core Viewpoint - COIL, a leader in aluminium anodising, reported a significant decline in revenue for the first half of 2025, attributed to a global economic slowdown, weakening demand, and geopolitical uncertainties, with total revenue falling by 34.3% to €8.63 million compared to the same period in 2024 [4][10]. Business Trends - Tolling sales amounted to €6.94 million, representing 80% of total sales, which is a decrease of 24.6% from €9.20 million in H1 2024, influenced by a one-off order in the previous year and cautious inventory management by metal distributors [5][3]. - Package sales reached €1.69 million, or 20% of total sales, down 12.6% from €1.94 million in H1 2024, reflecting a gradual demand slowdown, particularly in Q2 [6][3]. - Total revenue for the first half of 2025 was €8.63 million, down from €13.13 million in H1 2024, marking a 34.3% decline [3][4]. Financial Position - The decline in activity is expected to impact operating profitability and cash flow, prompting the company to implement short-term measures to preserve liquidity, including working capital optimization and investment adjustments [7]. - As of June 30, 2025, COIL's net financial debt was €4.5 million, a slight decrease of 1.3% from December 31, 2024, with gross debt at €4.8 million and available cash of €0.3 million [8]. - The company is exploring equity reinforcement options, including a potential capital increase, to secure its financial structure over the medium term [10]. Strategic Initiatives - COIL is focusing on strengthening commercial efforts with strategic customers and exploring high-potential international markets, particularly in Asia, the Middle East, and India, where demand for anodized aluminium remains strong [7]. - The company aims to continue its licensing agreement in China, expecting additional milestone payments by year-end and further non-recurring revenue in 2025 [7]. - Cost structure optimization is being reinforced through reductions in raw material inventories and workforce adjustments, including temporary unemployment measures in Belgium and layoffs in Germany [8]. Outlook - COIL anticipates a year-on-year decline in revenue for the full year 2025, while accelerating the transformation of its business model to focus on cost optimization, improved industrial agility, and enhanced valorisation of its technological expertise [10][11].