CHAMPFROMIER, FRANCE, Nov. 14 (Korea Bizwire) –
9 MONTHS TURNOVER INCREASES +3.3%
Akwel (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has posted consolidated turnover of €826.3m on the 30 September 2019, up +3.3%.
Consolidated turnover (1 January to 30 September 2019)
|In € millions – unaudited||2019||2018||Variation||Like-for-like variation (1)|
|1st quarter||293.0||280.3||+4.6%||+6.6 %|
|2nd quarter||273.5||279.0||-2.0 %||+0.2 %|
|3rd quarter||259.8||240.6||+8.0 %||+6.6 %|
|Total for 9 months||826.3||799.9||+3.3 %||+4.3 %|
(1) Comparing like-for-like figures.
In the first nine months of 2019, Akwel recorded turnover up +4.3% when comparing like-for-like figures. This performance was achieved against the backdrop of a global automotive industry in which conditions are still difficult, with a drop in product volumes of around -7%.
All geographical areas enjoyed growth in the third quarter.
Over the nine-month period, the the turnover by production zone breaks down as follows:
- France: €253.6m (-7.5%)
- Europe (excluding France) and Africa: €250.8m (+6.2%)
- North America: €202.0m (+8.2%)
- Asia and the Middle East (including Turkey): €112.8m (+20.7%)
- South America: €7.1m (-22.5%)
The group’s Chinese factories are continuing to grow, with a rise of +33.5% over the nine months.
With an investment budget more in line with normality this year and a more efficient management of working capital requirements, the group generated a free cash-flow of €38.6m over nine months and achieved a reduction in its net financial debts of €30.6m (excluding the impact of IFRS 16) compared to the situation on 31 December 2018, of which €12.6m came in the third quarter.
AKWEL can confirm all of the targets announced for the 2019 and 2020 financial years: growth in turnover, growth in operating profit and a return to a positive free cash flow in 2019, with a turnover of around €1.2 billion in 2020.
|An independent family 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 five continents, AKWEL employs almost 12,000 people worldwide.
Source: AKWEL vis GLOBE NEWSWIRE