Home » Business » Akwel Shows Strong Turnover Increase in First Nine Months of 2023

Akwel Shows Strong Turnover Increase in First Nine Months of 2023

Thursday November 9, 2023

NINE-MONTH TURNOVER INCREASED BY +5.8%
AND +12.8% AT CONSTANT SCOPE AND EXCHANGE RATES

AKWEL (FR0000053027, AKW, PEA eligible), system equipment manufacturer for the automotive and heavy goods vehicle industry, specialist in the management of fluids, mechanisms and structural parts of electric vehicles, recorded, over the first nine months of year 2023, a consolidated turnover of €781.9 million, up +5.8% compared to 2022.

Consolidated turnover (from 1is January to September 30, 2023)

In €m – unaudited 2023 2022 Variation Variation PCC (1)
1is quarter 273,7 245,8 +11,3 % +14,6 %
2th quarter 259,6 242,3 +7,1 % +13,0 %
3th quarter 248,7 251,1 -0,9 % +9,2 %
Total 9 months 781,9 739,2 +5,8 % +12,3 %

(1) HAS perimeter and rate change constants.

NB : the IAS29 standard “Financial reporting in hyperinflationary economies” is now applied to calculate the group’s turnover, leading to a restatement of the turnover figures from 1is a you 2th quarter published and already restated when the half-year results were published last September. This restatement has no impact on variations at constant scope and exchange rates.

ACTIVITY STILL DYNAMIC BUT STRONG FOREIGN EXCHANGE EFFECTS AT 3th QUARTER

AKWEL achieved consolidated revenue of €248.7 million in the third quarter of 2023, down slightly by -0.9% as reported compared to 2022, and by +9.2% at constant scope and exchange rates. . The negative currency impact weighs even more significantly this quarter than during the first six months of the financial year, at -€25.4 million, including -€15.9 million on the Turkish lira alone and -6, €2 million on the US dollar. At constant scope and exchange rates, the Group’s performance remains dynamic with growth of +9.2%.

Over the first nine months of the financial year, AKWEL’s turnover at constant scope and exchange rates increased by +12.3%, with growth still driven by activity in France and Europe.

ANALYSIS OF TURNOVER DISTRIBUTION

The geographical distribution of turnover as of September 30, by production zone, breaks down as follows:

  • France : 224,6 M€ (+11,3 %)
  • Europe (excluding France) and Africa: €225.1 million (+11.6%)
  • North America: €229.1 million (+1.9%)
  • Asia and Middle East (including Turkey): €99.4 million (-6.8%)
  • South America: €3.8 million (-12.1%)

Over the first nine months, Products and Functions revenue recorded growth of +5.9% to
€756.7 million. The most dynamic product lines over the period are the Air (+23.6%), Washing (+19.5%) and Cooling (+9.7%) activities, and the Structural Parts of electric vehicles, activity the most recent of the Group continues to develop with a turnover of €15.3 million (+71.7%). Tooling turnover reached €19.9 million over 9 months.

TREASURY NET OF €108.1 M

Consolidated net cash excluding rental obligations reached €108.1 million as of September 30, 2023, with an investment envelope of €18.8 million over the third quarter and €42.6 million over the period of the first nine months.

PERSPECTIVES 2023

Continuing the performances recorded during the first nine months of the year, AKWEL confirms its anticipation of revenue growth of around +10% over the entire 2023 financial year on a like-for-like basis. constant exchange rates. This development would result, assuming a continuation of the trends observed in currencies over the first 9 months and taking into account the application of IAS 29 and the restatements made, by growth of at least +5%. in published data.

Next press release: annual turnover 2023, February 8, 2024, after market.
Independent family group, listed on Euronext Paris, AKWEL is an equipment and systems manufacturer for the automobile and heavy goods vehicle industry, specializing in the management of fluids, mechanisms and structural parts of electric vehicles. To achieve this, the Group relies on leading industrial and technological know-how in the application and transformation of materials (plastic, rubber, metal) and mechatronic integration.

Present in 21 countries across five continents, AKWEL employs 9,500 people worldwide.

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

Contacts

AKWEL
Benoit Coutier – Financial Director – Tel. : +33 4 50 56 98 68

EKNO – Relations Presse
Jean-Marc Atlan – [email protected] – Tel. : +33 6 07 37 20 44

CALYPTUS – Investor Relations
Mathieu Calleux – [email protected] – Tel. : +33 1 53 65 68 68

  • 2023-11-09_AKWEL_CA-T3-2023_FR

2023-11-10 04:48:40
#AKWEL #NINEMONTH #TURNOVER #INCREASED #CONSTANT #SCOPE #EXCHANGE #RATES

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.