AKWEL

PUBLICATION OF TURNOVER FIGURES FOR THE 1st QUARTER OF 2020

                                                                                                                                                                                     14 May 2020

PUBLICATION OF TURNOVER FIGURES FOR THE 1^st QUARTER OF 2020

• Turnover down by 6.6%
• Outperforming the market in relation to global automotive production
• A high level of cash flow generation

AKWEL (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has posted consolidated turnover of €273.5m in the first quarter of 2020, down by -6.6 % compared to the first quarter of 2019.

Consolidated turnover for the 1^st quarter of 2020 (from 1 January to 31 March)

In € millions - unaudited	2020	2019	Variation	Like-for-like variation (1)
1st quarter	273.5	293.0	-6.6 %	-5.9 %

             
      ⁽¹⁾   Comparing like-for-like figures.

EXCELLENT MOMENTUM IN THE FIRST TWO MONTHS OF THE YEAR

The turnover for the first quarter of 2020 was down by 5.9% when comparing like-for-like figures, including an exchange rate impact of €2.3 million. This quarterly performance reveals two very contrasting trends: significant growth in business in the first two months of the year (+4.0%) in what is still a difficult environment, followed by a sharp decline in March (-27.5%) with steep falls in the automotive market as a result of the COVID-19 crisis. To be best able to protect all of its staff in those countries in which the group is present and to adapt to the decisions taken by its manufacturer clients, activity on the sites has been suspended or significantly scaled back. Under these exceptional conditions, AKWEL has largely outperformed its market (with global production down by 23.6% over the same period) thanks to its dynamism at the start of the year and its low level of exposure to the Chinese market.