Skip to main content

AKWEL: REVENUE FOR THE THIRD QUARTER OF 2021

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

        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 – unaudited20212020VariationLike-for-like variation (1)
1st quarter273.3273.5-0.1%+6.3%
2nd quarter214.3113.6+88.7%+99.7%
3nd quarter211.5262.0-19.3%-17.3%
Total for 9 months699.1649.1+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

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.