AKWEL: CONFIRMED UPTURN IN ACTIVITY IN Q3 2020

AKWEL: CONFIRMED UPTURN IN ACTIVITY IN Q3 2020




AKWEL: CONFIRMED UPTURN IN ACTIVITY IN Q3 2020

                                                                                                                                    FRANCE, Thursday, 12 November 2020

CONFIRMED UPTURN IN ACTIVITY IN Q3 2020

AKWEL (FR0000053027, AKW, PEA-eligible), an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, is reporting consolidated turnover of €649.1 million for the first nine months of 2020, limiting the decline to -21.4% from the same period last year.

Consolidated turnover (1 January to 30 September 2020)

In € millions – unaudited 2020 2019 Change Like-for-like change (1)
1st quarter 273.5                                                                        293.0 -6.6% -5.9%
2nd quarter 113.6                                                                        273.5 -58.5% -57.8%
3rd quarter 262.0                                                                        259.8 +0.9% +6.7%
Total for 9 months 649.1                                                                        826.3 -21.4% -19.1%

      (1)   Comparing like-for-like figures.

The upturn in AKWEL’s activity was confirmed in September, generating turnover growth of 0.9% in the third quarter of 2020 (+6.7% comparing like-for-like figures), and continued to outperform global automotive production.

The main performance factors were:

  • the continued positive impact of the Opel/PSA merger, which expanded the customer scope;
  • a high level of aftermarket activity on SCR tanks;
  • the ramp-up of activities in China.

The geographical breakdown of turnover by production zone as of 30 September was as follows:

  • France: €191.1 M (-24.6%)
  • Europe (excluding France) and Africa: €189.3 M (-24.6%)
  • North America: €166.0 M (-17.8%)
  • Asia and the Middle East (including Turkey): €99.4 M (-11.9%)
  • South America: €3.3 M (-53.5%)

Net cash continued to increase in the third quarter, totalling €42.2 million (excluding IFRS 16 impact) at the end of September 2020.

The signs of recovery seen in the third quarter must be tempered in a context of new restrictions associated with the second wave of the COVID-19 pandemic, especially in Europe and the United States. AKWEL continues to operate in a low-visibility market by relying on the flexibility and effectiveness of its business model and prioritising its investments to support market trends, particularly in clean vehicles.

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.

 

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