(image: AKWEL)
CHAMPFROMIER, FRANCE, April 8 (Korea Bizwire) –
CURRENT OPERATING PROFIT UP 19% TO €92.2m
PREPARATION AND REACTION TO THE COVID-19 CRISIS
Akwel (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, posted its 2019 annual results.
| Consolidated data – in € millions | 2019 | 2018 | Var. in % |
| Turnover | 1,101.2 | 1,062.2 | +3.7% |
| EBITDA | 130.3 | 124.6 | +4.6% |
| Current operating profit | 92.2 | 77.4 | +19.0% |
| Current operating margin | 8.4% | 7.3% | +1.1 pt |
| Operating profit | 88.9 | 73.1 | +21.6% |
| Financial income | (2.4) | (2.1) | +11.4% |
| Net result (group share) | 62.7 | 61.1 | +2.6% |
| Net margin | 5.7% | 5.8% | -0.1 pt |
Akwel posted an annual turnover of €1,101.2 million in 2019, an increase of 3.7% and 4.4% when taking exchange rates and scope as constants. This growth took place in a global automotive production market down by approximately 5%, outperforming by more than 9% as a result.
The current operating margin, 8.4% of turnover, grew to €92.2m.
With a financial income returned to a more normative level in 2019 (27%), the group share net result reached €62.7m, up 2.6%.
2019 free cash flow was positive and reached €28.1m.
Akwel showed a solid financial footing: net financial debt of €34.7m (including €10.6m related to IFRS 16) and consolidated shareholders’ equity of €507.6m.
Benefiting from the experience of our Asian sites – some of which are already gradually starting up again –, Akwel was able to anticipate the Codiv-19 crisis.
To weather this unprecedented crisis, Akwel benefits from a number of structural assets: a highly localised organisation, a healthy financial situation, efficient and flexible industrial tools and a close relationship (grade 1) with manufacturers to anticipate and effectively support a resumption in activity.
In this context, the Group is suspending its 5% growth target for 2020 and the dividend proposed for the 2019 financial year will be €0.195, a 35% reduction.
| 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. |
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Source: Akwel via GLOBE NEWSWIRE
