AKWEL

CURRENT OPERATING INCOME UP 64% TO €61M

        Thursday, April 4, 2024

CURRENT OPERATING INCOME UP 64% TO €61M

• Current operating margin of 5.7% of turnover
• Net cash position €105m
• Proposed dividend of €0.30 per share
  
  

AKWEL (FR0000053027, AKW, PEA-eligible), parts and systems manufacturer for the automotive and heavy-vehicle industry, specialist in fluid management, mechanisms, and structural parts for electric vehicles, posted its 2023 annual results, as approved by the executive board, on April 3, 2024. Audit reports are in the process of being issued.

Consolidated data - in € millions	2023	2022	2022 revised	Var. in %
Revenue	1,066.4	990.5	989.5	+7.8%
EBITDA	101.9	81.3	80.8	+26.1%
Current operating income	61.0	38.6	37.2	+64.0%
Current operating margin	5.7%	3.9%	3.8%	+1.9 pts
Operating income	49.3	37.7	36.3	+35.8%
Financial income	0.3	0.6	0.4	-21.5%
Net result (group share)	35.7	11.1	25.3	+41.1%
Net margin	3.3%	1.1%	2.6%	+0.8 pts

CORRECTION RELATED TO THE CONSOLIDATION OF TURKISH SUBSIDIARIES

As a reminder, the results from the Turkish subsidiaries have now been consolidated, with the euro now considered the functional currency. This rule applies as of January 1, 2022. Therefore, the Group has revised its 2022 accounts and drawn up its 2023 accounts in accordance with the IAS 21 standard.

ACTIVITY UP +7.8%

In 2023, the AKWEL Group recorded a consolidated turnover up by 7.8% to €1,066.4m, representing a return to a similar level of activity to 2019, the last financial year before the decline of the global automotive market in the wake of the pandemic. On a like-for-like basis with constant exchange rates, the increase in annual turnover was +9.6%.