Akwel Posts Net Earnings of €20.2 Million in the First Half of 2020 - Seite 3

2020 OUTLOOK

The upturn in activity seen at the start of the year has continued for AKWEL, with a cumulative turnover achieved in July and August of €153.5 million, with the fall being limited to 4.6% compared to the comparable months of 2019. However, market visibility continues to be extremely limited for the months to come, and the Group still intends to prioritise the flexibility and efficiency of its business model in order to adapt to the crisis.

Additionally, to secure its supplies of a key component, in July AKWEL participated along with its co-shareholders in the holding company Bionnassay M&P Technology in the acquisition from the Commercial Court of Grenoble of the activities of Franck & Pignard, which had filed for bankruptcy due to the COVID-19 crisis. Bionnassay M&P Technology was already the major shareholder in Franck & Pignard and had been since 2018.

The Group is continuing to invest in order to meet new market requirements as a priority, particularly in clean vehicles and new hybrid, electrical or hydrogen engine systems, or in the innovative partnership developed with Tallano to reduce microparticle emissions when braking. AKWEL is also ready to take up any external growth opportunities, enabling it to extend its geographical reach or to speed up the development of new product lines independent of the thermal engine.

Next press release: third quarter turnover for 2020, Thursday 12 November, after markets close.

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

Contacts


AKWEL
Jean-Louis Thomasset – Vice-President of the Executive Board/Financial VP – Tel.: [phone]

EKNO – Press Relations
Christine Savoie – Jean-Marc Atlan – [e-mail] – Tel.: [phone]

CALYPTUS – Investor Relations
Mathieu Calleux – Gregory Bosson – [e-mail] – Tel.: [phone]

 

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• 2020-09-24_AKWEL_HY-2020