AKWEL: TURNOVER FOR THE FIRST QUARTER OF 2024
02 Maio 2024 - 12:45PM
AKWEL: TURNOVER FOR THE FIRST QUARTER OF 2024
Champfromier,
Thursday, May 2, 2024
TURNOVER FOR THE FIRST QUARTER OF
2024
-
Turnover down -3.3% at constant scope and exchange
rates
-
Net cash position €111.8M
AKWEL (FR0000053027, AKW, PEA-eligible), parts
and systems manufacturer for the automotive and heavy-vehicle
industry, specialist in fluid management, mechanisms and structural
parts for electric vehicles, has recorded, over the first quarter
of 2024, a consolidated turnover of €263.5M, down -4.0% compared to
the results published for the first quarter 2023.
Consolidated turnover for the first
quarter of 2024 (from January 1 to March 31)
in €m — unaudited |
2024 |
2023 |
Variation |
PCC variation (*) |
1st quarter |
263.5 |
274.6 |
-4.0% |
-3.3% |
(*) At constant scope and exchange rates
DECREASE IN CONSOLIDATED
TURNOVER
Against a backdrop of low global automotive
production at the beginning of 2024, down in Europe and with
limited growth in North America in particular, AKWEL recorded a
decrease of -4.0% in its published turnover and decrease of -3.3%
at constant scope and exchange rates. This is compared to the
performance from the first quarter of 2023, which was the highest
of the financial year for the Group. The impact of foreign exchange
rates amounted to €-2M this quarter, of which the US dollar
accounts for €-0.9M. This also takes into account the fact that
results from Turkish subsidiaries are now consolidated in euro.
TURNOVER DISTRIBUTION
The turnover is distributed by geographic
production area as follows:
- France: €69.0M (-10.9%)
- Europe (excluding France) and
Africa: €77.2M (-4.1%)
- North America: €77.3M (+4.3%)
- Asia and the Middle East (including
Türkiye): €39.4M (-4.6%)
- South America: €0.5M (-53.0%)
Turnover for Products and Functions reached
€256.3M this quarter, down -4.0%. With the exception of the Air
intake (+17.6%) and Cooling (+1.2%) product lines, most activities
are down. This includes the Decontamination line, which is down
-20.8%. Turnover from Tooling totaled €5.6M for this quarter.
NET CASH POSITION €111.8M
Excluding the impact of rental obligations, the
company reached a net cash position of €111.8M at the end of March
2024, down €6.5M from December 31, 2023, taking into account a
significantly increased investment envelope of €20.0M compared to
€11.0M in the first quarter of 2023.
PERSPECTIVES FOR 2024
In view of the performance recorded during this
first quarter, AKWEL maintains its expectation of stable activity
for the current year.
Next press release: Turnover for the first half of 2024, on July
25, 2024, after markets close. |
An independent family business, trading on Euronext Paris, AKWEL is
a parts and systems manufacturer for the automotive and
heavy-vehicle industry, and a specialist in fluid management,
mechanisms and structural parts for electric vehicles. The Group
achieves this with their first-rate industrial and technological
know-how in mastering the application and processing of materials
(plastic, rubber, metal) and mechatronic integration.Operating in
20 countries across 5 continents, AKWEL employs 9,600 people
worldwide.Euronext Paris — Sub-fund B — ISIN: FR0000053027 —
Reuters: AKW.PA — Bloomberg: AKW:FP |
|
ContactsAKWELBenoit Coutier —
Financial Director — Tel.: +33 (0) 4 50 56 98 68
EKNO — Public
RelationsJean-Marc Atlan — jean-marc.atlan@ekno.fr — Tel: +33 (0) 6
07 37 20 44
CALYPTUS — Investor
RelationsMathieu Calleux — akwel@calyptus.net — Tel.: +33 (0) 1 53
65 68 68
- 2024-05-02_AKWEL_CA-T12024_EN
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