AKWEL: CONFIRMED UPTURN IN ACTIVITY IN Q3 2020 Paris Stock Exchange:AKW - GlobeNewswire

cicingwos.blogspot.com

                                                                                                                                    FRANCE, Thursday, 12 November 2020

CONFIRMED UPTURN IN ACTIVITY IN Q3 2020

AKWEL (FR0000053027, AKW, PEA-eligible), an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, is reporting consolidated turnover of €649.1 million for the first nine months of 2020, limiting the decline to -21.4% from the same period last year.

Consolidated turnover (1 January to 30 September 2020)

In € millions - unaudited	2020	2019	Change	Like-for-like change (1)
1st quarter	273.5	293.0	-6.6%	-5.9%
2nd quarter	113.6	273.5	-58.5%	-57.8%
3rd quarter	262.0	259.8	+0.9%	+6.7%
Total for 9 months	649.1	826.3	-21.4%	-19.1%

      ⁽¹⁾   Comparing like-for-like figures.

The upturn in AKWEL’s activity was confirmed in September, generating turnover growth of 0.9% in the third quarter of 2020 (+6.7% comparing like-for-like figures), and continued to outperform global automotive production.

The main performance factors were:

• the continued positive impact of the Opel/PSA merger, which expanded the customer scope;
• a high level of aftermarket activity on SCR tanks;
• the ramp-up of activities in China.

The geographical breakdown of turnover by production zone as of 30 September was as follows:

• France: €191.1 M (-24.6%)
• Europe (excluding France) and Africa: €189.3 M (-24.6%)
• North America: €166.0 M (-17.8%)
• Asia and the Middle East (including Turkey): €99.4 M (-11.9%)
• South America: €3.3 M (-53.5%)

Net cash continued to increase in the third quarter, totalling €42.2 million (excluding IFRS 16 impact) at the end of September 2020.

The signs of recovery seen in the third quarter must be tempered in a context of new restrictions associated with the second wave of the COVID-19 pandemic, especially in Europe and the United States. AKWEL continues to operate in a low-visibility market by relying on the flexibility and effectiveness of its business model and prioritising its investments to support market trends, particularly in clean vehicles.

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.

Attachment

• 2020-11-12_AKWEL_CA-T3-2020_EN_Vshort

Let's block ads! (Why?)

"activity" - Google News
November 13, 2020 at 01:00PM
https://ift.tt/2Un8P9J

AKWEL: CONFIRMED UPTURN IN ACTIVITY IN Q3 2020 Paris Stock Exchange:AKW - GlobeNewswire
"activity" - Google News
https://ift.tt/3ddCXMh
https://ift.tt/2WkO13c

Bagikan Berita Ini