AKWEL

CURRENT OPERATING INCOME UP 64% TO €61M - Seite 2

INCREASE IN CURRENT OPERATING PROFIT

Against a backdrop of lower inflationary pressure, AKWEL's positive business developments and the continued gradual impact of some price rises have helped to improve current operating profit. Gross operating surplus (GOS) is up +26.1% to €101.9m and current operating income has grown +64% to €61m. The current operating margin stands at 5.7% of turnover, an increase of almost 2 points. A provision of €9.4m associated with the exceptional costs of restructuring the Gournay (France) site in 2024 weighed on the operating income, which is up +35.8% to €49.3m. After an income tax provision of €13m, the net result (group share) is up +41.1% to €35.7m, resulting in a net margin of 3.3%.

NET CASH POSITION OF €105M

In 2023, the Group's self-financing capacity was €84.7m. The WCR rose €20.7m, leading to an operating cash flow of €63.9m. With investments up sharply to €59.3m over the financial year, nearly double the previous 2 years, AKWEL has generated free cash flow of €4.6m and a positive end-of-year net cash position of €105m (including rental obligations), compared with €113.7m at the end of 2022.

NON-FINANCIAL PERFORMANCE AND THE FUTURE OF THE GROUP

In 2022, the Group set itself some particularly ambitious CSR goals to achieve by 2028. These objectives focus on employee engagement, customer satisfaction and respect for the environment. In 2023, there was significant progress in these areas, notably with a marked reduction in the frequency (rate of 2.55) and severity of workplace accidents (rate of 0.12), a 10.8% reduction in carbon emissions and a 14% reduction in water consumption.

DIVIDEND OF €0.30 PER SHARE

The distribution of a dividend of €0.30 per share for 2023 will be proposed at the Annual General Meeting of Shareholders to be held on May 23, 2024.

PERSPECTIVES FOR 2024

As indicated upon publication of the 2023 annual revenue, given that global automotive production is expected to be stable across European and North American markets in 2024, AKWEL anticipates similar levels of activity for this financial year as for 2023.

Next press release: Turnover for the first quarter of 2024, on May 2, 2024, after markets close.

An independent family business, trading on Euronext Paris, AKWEL is a parts and systems manufacturer for the automotive and heavy-vehicle industry, and a specialist in fluid management, mechanisms and structural parts for electric vehicles. The Group achieves this with their first-rate industrial and technological know-how in mastering the application and processing of materials (plastic, rubber, metal) and mechatronic integration.