CHAMPFROMIER, FRANCE, Nov. 13 (Korea Bizwire) – AKWEL (FR0000053027, AKW, PEA-eligible), an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, is reporting consolidated turnover of €649.1 million for the first nine months of 2020, limiting the decline to -21.4% from the same period last year.
Consolidated turnover (1 January to 30 September 2020)
|In € millions – unaudited||2020||2019||Change||Like-for-like change (1)|
|Total for 9 months||649.1||826.3||-21.4%||-19.1%|
(1) Comparing like-for-like figures.
The upturn in AKWEL’s activity was confirmed in September, generating turnover growth of 0.9% in the third quarter of 2020 (+6.7% comparing like-for-like figures), and continued to outperform global automotive production.
The main performance factors were:
- the continued positive impact of the Opel/PSA merger, which expanded the customer scope;
- a high level of aftermarket activity on SCR tanks;
- the ramp-up of activities in China.
The geographical breakdown of turnover by production zone as of 30 September was as follows:
- France: €191.1 M (-24.6%)
- Europe (excluding France) and Africa: €189.3 M (-24.6%)
- North America: €166.0 M (-17.8%)
- Asia and the Middle East (including Turkey): €99.4 M (-11.9%)
- South America: €3.3 M (-53.5%)
Net cash continued to increase in the third quarter, totalling €42.2 million (excluding IFRS 16 impact) at the end of September 2020.
The signs of recovery seen in the third quarter must be tempered in a context of new restrictions associated with the second wave of the COVID-19 pandemic, especially in Europe and the United States. AKWEL continues to operate in a low-visibility market by relying on the flexibility and effectiveness of its business model and prioritising its investments to support market trends, particularly in clean vehicles.
|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 more than 10,500 people worldwide.
Source: Akwel via GLOBE NEWSWIRE