Skip to content
Transport Automotive

AKWEL: FIRST-HALF 2024 NET INCOME OF €20.2M

Akwel 2 mins read

        Champfromier, Thursday, September 19, 2024

FIRST-HALF 2024 NET INCOME OF €20.2M

AKWEL (FR0000053027, AKW), a systems supplier to the automotive and truck industries, specializing in fluid management, mechanisms and structural parts for electric vehicles, announces its half-year results for 2024.

Consolidated data - In M€30.06.202430.06.202330.06.2023
retired (1)
% change
/ retired
Sales figures528,8533,2545,8-3,1 %
Gross operating surplus49,249,049,8-1,3 %
Current operating income24,430,231,1-21,6 %
Operating margin before non-recurring items4,6 %5,7 %5,7 %-1.1 pts
Operating income28,930,030,6-5,4 %
Net financial income0,0(2,5)0,1-
Net income (pdg)20,219,222,2-9,0 %
Net margin3,8 %3,6 %4,1 %-0.2 pts

(1) restated in accordance with IAS 21 for Turkish subsidiaries.

In the first half of 2024, AKWEL sales totaled €528.8 million, down -3.1% and -2.8% on a like-for-like basis.

The ability to pass on increases to customers proved more complex in the first half. Pressure on labor costs remains very high and is weighing on the Group's operating profitability.

The EBITDA fell by -1.3% to €49.2 million, while operating income recurring by -21.6% to €24.4 million. The net income of the Group came to €20.2 million, giving a net margin of 3.8%.

The Group's net cash position, including liabilities on rental bonds, stood at €106.0 million at June 30, compared with €105.0 million at December 31.

In view of the first-half performance, the declining outlook for the global market and over-stocking by certain automakers, AKWEL anticipates a slight decline in sales for the current financial year.

In a changing automotive market, the major investments made by the Group in recent years have given AKWEL an agile industrial base with enhanced technical capabilities, able to adapt effectively to the uncertain evolution between electric and hybrid powertrains, and internal combustion engines.

 
AKWEL is an independent, family-owned group listed on Euronext Paris, and a systems supplier to the automotive and truck industries, specializing in fluid management, mechanisms and structural parts for electric vehicles. The Group draws on first-rate industrial and technological know-how in the application and transformation of materials (plastic, rubber, metal) and in mechatronics integration.

Present in 20 countries on five continents, AKWEL employs 9,600 people worldwide.
 

Attachment


Primary Logo

More from this category

  • Government TAS, Transport Automotive
  • 18/11/2024
  • 15:06
Rail, Tram and Bus Union

NORTHERN BUS DRIVERS TO STOP WORK FOR TWO HOURS THIS WEEK

Monday 18 November Metro Tasmania bus drivers will escalate their protected industrial action this week. Metro Tasmania’s Burnie-based bus drivers will stop work for two hours on Wednesday morning (20 November 2024) from 10.15am to 12.15pm, and Launceston-based drivers will stop work for two hours on Thursday afternoon (21 November 2024) from 5.00pm to 7.00pm. Rail, Tram and Bus Union (RTBU) Tasmania Secretary Byron Cubit said the protected industrial action would allow bus drivers at both locations to discuss their stalled Enterprise Agreement negotiation. “Northern bus drivers deserve fair pay and conditions, but the offer on the table from Metro…

  • General News, Transport Automotive
  • 18/11/2024
  • 11:38
Soda Communications

Pedal to the metal: Demand for Lime e-bikes skyrockets after scooter ban

Melbourne city dwellers have swapped scooters for bikes with an exponential increase in the usage of Lime e-bikes since scooters were banned in Melbourne…

  • Contains:
  • Seniors Interest, Transport Automotive
  • 13/11/2024
  • 06:33
UNSW Sydney

Should your age determine how long you drive a car?

A new website launched by UNSW Sydney and NeuRA will help older drivers navigate licensing rules that differ from state to state while providing advice on how to keep driving longer. Could you imagine having a driving lesson in your 50s or 60s, even though you’ve been driving since your late teens? The idea isn’t as far-fetched as it may seem. The latest research into older driver behaviour is finding that tailored driving lessons can improve older driver performance and safety on the road. True, old age brings with it some physical and cognitive declines that may impact driving performance…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.