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AKWEL: CURRENT OPERATING PROFIT UP 19% TO €92.2m

Wednesday, 8 April 2020, 17:45

CURRENT OPERATING PROFIT UP 19% TO €92.2m

PREPARATION AND REACTION TO THE COVID-19 CRISIS

Akwel (FR0000053027, AKW, PEA-eligible), the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, posted its 2019 annual results.

Consolidated data – in € millions 2019 2018 Var. in %
Turnover 1,101.2 1,062.2 +3.7%
EBITDA 130.3 124.6 +4.6%
Current operating profit 92.2 77.4 +19.0%
Current operating margin 8.4% 7.3% +1.1 pt
Operating profit 88.9 73.1 +21.6%
Financial income (2.4) (2.1) +11.4%
Net result (group share) 62.7 61.1 +2.6%
Net margin 5.7% 5.8% -0.1 pt

Akwel posted an annual turnover of €1,101.2 million in 2019, an increase of 3.7% and 4.4% when taking exchange rates and scope as constants. This growth took place in a global automotive production market down by approximately 5%, outperforming by more than 9% as a result.

The current operating margin, 8.4% of turnover, grew to €92.2m.

With a financial income returned to a more normative level in 2019 (27%), the group share net result reached €62.7m, up 2.6%.

2019 free cash flow was positive and reached €28.1m.

Akwel showed a solid financial footing: net financial debt of €34.7m (including €10.6m related to IFRS 16) and consolidated shareholders’ equity of €507.6m.

Benefiting from the experience of our Asian sites – some of which are already gradually starting up again –, Akwel was able to anticipate the Codiv-19 crisis.

To weather this unprecedented crisis, Akwel benefits from a number of structural assets: a highly localised organisation, a healthy financial situation, efficient and flexible industrial tools and a close relationship (grade 1) with manufacturers to anticipate and effectively support a resumption in activity.

In this context, the Group is suspending its 5% growth target for 2020 and the dividend proposed for the 2019 financial year will be €0.195, a 35% reduction.

An independent family 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 five continents, Akwel employs almost 12,000 people worldwide.

http://akwel-automotive.com/

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