Categories: Cars

AKWEL: Solid Growth In 1H22

(adsbygoogle = window.adsbygoogle || []).push({});

Paris, France, July 29 – AKWEL (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has posted consolidated turnover of €488.1m in the first half of 2022, stable compared with the first half of 2021.

Consolidated turnover

AKWEL recorded a higher level of activity in the second quarter of 2022, with a reported turnover up 13.1%. On a like-for-like basis, the increase was 16.9%.

The half-year turnover, up 5% on a like-for-like basis, outperforming the global vehicle production market over the first half of the year.

Products and Functions turnover is €473.2m (+1.8%). The Cooling (+8.3%) and Air (+2.2%) activities continued to grow, driven by market share gains. The Depollution product line limited its decline to -2.6%, and the Aftermarket activities remained strong on SCR tanks.

The Group generated €7.7m in free cash flow during the first half of 2022, reaching a net cash position as of 30 June, excluding rental obligations, of €116m after the dividend payout.

AKWEL: Moderate growth

AKWEL confirms its expectation of moderate growth in turnover for the 2022 financial year. However, the supply difficulties disrupting the activities of vehicle and equipment manufacturers, particularly at European sites, and the significant inflation observed in the costs of raw materials, components, energy, transport, and labour will have a major impact on the Group’s operating profitability this year.

These various increases cannot be easily passed on to sales prices. In all cases, this requires long negotiation periods. This time lag leads AKWEL to anticipate a significant decrease in its current operating income in both the first half and second half of 2022.

An independent, family-owned group listed on the Euronext Paris Stock Exchange, AKWEL is an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, offering first-rate industrial and technological expertise in applying and processing materials (plastics, rubber, metal) and mechatronic integration.

Operating in 20 countries across every continent, AKWEL employs 9,700 people worldwide.

(adsbygoogle = window.adsbygoogle || []).push({});
(adsbygoogle = window.adsbygoogle || []).push({});

admin

Recent Posts

Web3 Sessions at the New Dubai Metaverse Assembly A Success

The first two sessions by the Crypto Oasis focused on the Digital Economy and Venture…

12 hours ago

In The US, Consumers Increase Online Grocery Spending

Global consumer flight bookings throughout this summer stayed 15% above 2019 levels

22 hours ago

New Report: 11% Cambodian Children Faced Online Sexual Abuse

The Disrupting Harm in Cambodia report says few children subjected to online sexual exploitation and abuse reported…

2 days ago

United Natural Foods To Increase Investment in Its Shoppers Banner

Expanded and enhanced store portfolio allows Shoppers to significantly improve shopping experience and choice for…

2 days ago

MetaBoundless Hosts First Avatar Concert in the Metaverse

Arabic stars in the Metaverse" on October 20th for a world first, virtual experience with…

3 days ago

PayerMax Boost Growth In EM With Singapore As Foothold

PayerMax will employ more resources and manpower in Singapore, Indonesia, Philippines, Thailand, Vietnam and Malaysia,…

4 days ago