Wednesday 10 November 2021
REVENUE FIGURES FOR THE THIRD QUARTER OF 2021
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