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|| ||-6.6%||-5.9%|
|2nd quarter||113.6|| ||-58.5%||-57.8%|
|3rd quarter||262.0|| ||+0.9%||+6.7%|
|Total for 9 months||649.1|| ||-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.