Akwel

a Strong Improvement in Profitability in 2020

          Thursday 08 April 2021

A STRONG IMPROVEMENT IN PROFITABILITY IN 2020

• Current operating margin up 3.7 pts to 12.1%
• Operating income up by 20.3% to €107.0m
• Free cash-flow of €128.2m

Akwel (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, posted its 2020 annual results, as approved by the executive board, on 29 March 2021. Audit processes have taken place and the certifying audit report is currently being issued.

Consolidated data - in € millions	2020	2019	Var. in %
Revenue	937.2	1,101.2	-14.9%
EBITDA	175.3	130.3	+34.6%
Current operating income	113.7	92.2	+23.4%
Current operating margin	12.1%	8.4%	+3.7 pts
Operating income	107.0	88.9	+20.3%
Financial income	(1.9)	(2.4)	-
Net result (group share)	85.5	62.7	+36.4%
Net margin	9.1%	5.7%	+3.4 pts

AN UPTURN IN ACTIVITY DURING THE SECOND HALF OF THE 2020 FINANCIAL YEAR

Thanks to the upturn in activity during the last four-month period, after a first half-year severely affected by the global pandemic the annual fall in turnover was -14.9% and -10.9%, at a constant exchange rate and comparable perimeter. Against the backdrop of this exceptional crisis, the group continued to outperform global automotive production trends, which saw a fall of 16.2% in 2020. The gains in market share in strategic accounts, particularly as a result of the PSA-OPEL tie-up, the upturn in activity in China and the success of the models manufactured in the USA in addition to atypical Aftermarket business for the SCR tanks were the main factors bolstering the group’s performance during this period.