AKWEL

CURRENT OPERATING INCOME OF €30.2M IN THE FIRST HALF OF 2023

        Thursday 21 September 2023

CURRENT OPERATING INCOME OF €30.2M
IN THE FIRST HALF OF 2023

• 2.1-point increase in the current operating margin
• Net income of €19.2m
• Benoit Coutier appointed Chief Financial Officer
  
  

AKWEL (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer, published its 2023 half-yearly results, as approved by the executive board, on 18 September 2023. Audit reports are in the process of being issued.

Consolidated data - in € millions	30.06.2023	30.06.2022	Var. in %
Revenue	533.2	491.0	+8.6%
EBITDA	49.0	42.3	+15.8%
Current operating income	30.2	17.7	+70.6%
Current operating margin	5.7%	3.6%	+2.1 pts
Operating income	30.0	17.2	+74.4%
Financial income	(2.5)	(10.0)	+77.0%
Net result (group share)	19.2	1.9	-
Net margin	3.6%	0.4%	+3.2 pts

LEVEL OF ACTIVITY CLOSE TO PRE-CRISIS PERFORMANCE

In the first half of 2023, AKWEL posted a consolidated turnover of €545.8m, up by 11.8% when comparing published figures and by 16.2% when taking exchange rates and scope as constants. Business growth was particularly significant in Europe and Africa, with an increase of 17.5%. The application of IAS29 led to a restatement of the half-yearly turnover published on 27 July, for an amount of -€12.6m, following the continued devaluation of the Turkish lira. This restatement has no impact on the performances communicated at constant scope and exchange rates.

IMPROVED PROFITABILITY

Continued growth in business volumes, combined with better control of costs and sales prices, have led to a return to a more significant level of profitability. Pressures on costs remain high, however, particularly on the wage bill, although energy and transport prices are now more contained.