Brief: Akwel FY Operating Income Down At EUR 37.7 Mln

Akwel SA

05/04/2023 17:25

April 5 (Reuters) - Akwel SA  AKW.PA :
    * 2022 RESULTS IMPACTED BY INFLATIONARY TENSIONS
    * FY REVENUE RISES TO EUR 990.5 MLN VS EUR 922.6 MLN YEAR
AGO, UP
7.4%
    * CURRENT OPERATING MARGIN OF 3.9%, DOWN SHARPLY
    * PROPOSED DIVIDEND OF EUR 0.30 PER SHARE
    * FOR 2023 FINANCIAL YEAR, AKWEL REMAINS CAUTIOUS WITH
REGARD TO
SECTOR'S RECOVERY FORECASTS AND ANTICIPATES A SLIGHT INCREASE IN
TURNOVER, IN A CONTINUING CONTEXT OF VERY LIMITED VISIBILITY ON
GLOBAL AUTOMOTIVE MARKET DUE TO ECONOMIC AND GEOPOLITICAL
TENSIONS
    * FY NET INCOME GROUP SHARE EUR 11.1 MILLION VERSUS EUR 51.2
MILLION YEAR AGO
    * OUTLOOK 2023: GROUP ANTICIPATES CONTINUED TENSION OVER
PRODUCTION COSTS AND WILL WORK TO CONTINUE TO IMPROVE RATE AT
WHICH THEY ARE PASSED ON TO CUSTOMERS
    * EBITDA EUR 81.3 MILLION VERSUS EUR 117.1 MILLION YEAR AGO,
DOWN
30.6%
    * FY OPERATING INCOME EUR 37.7 MILLION VERSUS EUR 70.4
MILLION
YEAR AGO
    * GROUP HAS SET ITSELF OBJECTIVES FOR 2028: ENVIRONMENTAL
(FOR
EXAMPLE, A 40% REDUCTION IN CO2 EMISSIONS), SOCIAL (REDUCTION
FROM 4.09 TO 2.8 IN FREQUENCY RATE OF WORKPLACE ACCIDENTS), IN
TERMS OF CUSTOMER SATISFACTION (TWO-THIRDS REDUCTION IN WARRANTY
RETURNS) AND RESPONSIBLE PURCHASING
    * FY NET CASH POSITION UP AT EUR 113.7M

Source text for Eikon:  ID:nGNE63HJyx 
Further company coverage:  AKW.PA 

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