Champfromier, France, Nov. 10 (Korea Bizwire) — AKWEL (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid and mechanism management, posted consolidated revenue of €699.1m over the first nine months of 2021, up by 7.7% compared to the same period last year.
Consolidated revenue (1 January to 30 September 2021)
|In € millions – unaudited||2021||2020||Variation||Like-for-like variation (1)|
|Total for 9 months||699.1||649.1||+7.7%||+13.1%|
(1) Comparing like-for-like figures.
Against a backdrop of tensions on commodities and electronic components, volumes remained at low levels for the global automotive industry, compared with a third quarter of 2020 characterised by a strong catch-up effect. Q3 revenue fell by 19.3%.
Products & Functions revenue (-17.2% compared with the third quarter of 2020) however records the performance by business days outstripped the performance during the second quarter, which is a first. The Oil, Fuel, Cooling and Mechanisms businesses achieved double-digit growth, while the Washing product line posted a significant decline.
Net cash (excluding lease obligations) fell during the third quarter by €4.8m, primarily due to the increase in inventory, but remained at a high level at the end of September 2021 at €98.3m.
Visibility on production volumes in the global automotive industry is still extremely poor. The target of a rise in annual revenue remains a lofty goal that is increasingly difficult to achieve. In this context, and bolstered by a solid model and a favourable financial position, AKWEL is continuing to prepare for its long-term growth by pursuing its investments in sales growth and new mobility solutions.
|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.
Euronext Paris – Compartment B – ISIN: FR0000053027 – Reuters: AKW.PA – Bloomberg: AKW:FP
Source: AKWEL via GLOBE NEWSWIRE