Thursday 29 July 2021

TURNOVER INCREASES 26% IN THE FIRST HALF OF 2021

AKWEL (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has posted consolidated turnover of €487.6m in the first half of 2021, up by 26.0% compared to the first half of the previous year. Activity remains down by -13.9% compared to the first half of 2019.

Consolidated turnover (1 January to 30 June 2021)

In € millions – unaudited 2021 2020 Variation Like-for-like variation(1)
1st quarter 273.3 273.5 -0.1% +6.3%
2nd quarter 214.3 113.5 +88.7% +99.7%
1st half-year 487.6 387.0 +26.0% +33.7%

(1)   Comparing like-for-like figures.

On first half, AKWEL saw its turnover increase by 88.7% when comparing published figures (99.7% when taking exchange rates and scope as constants). The group’s quarterly turnover is to be compared with a second quarter of 2020 in which worldwide vehicle production virtually ceased for two months and was down by -21.7% compared to 2019. Procurement difficulties for the main raw materials and electronic components are affecting the organisation of the entire supply chain, resulting in unplanned production stoppages among the manufacturers.

Breakdown of first half turnover by production zone:

  • France: €138.8m (+25.6%)
  • Europe (excluding France) and Africa: €153.4m (+29.9%)
  • North America: €121.8m (+25.1%)
  • Asia and the Middle East (including Turkey): €70.4m (+19.2%)
  • South America: €3.2m (+64.4%)

On a like-for-like basis, AKWEL continues to outperform its benchmark markets in its two main regions of operation, in Europe and North America.

On 30 June, the AKWEL group had a record positive net cash position, at €95.9m (excluding debts on lease obligations) after disbursement of the dividend.

In view of the tensions observed with raw materials and electronic components, visibility remains particularly poor for the whole international automotive industry in 2021. AKWEL confirms that it is expecting to see activity increasing over the year underway, in view of the favourable base effect for 2020, but remaining below that of the year 2019.

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 almost 10,500 people worldwide.

Euronext Paris – Compartment B – ISIN: FR0000053027 – Reuters: AKW.PA – Bloomberg: AKW:FP

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