Brief: Akwel FY Revenue Down At 922.4 Million Euros

Akwel SA

10/02/2022 17:00

Feb 10 (Reuters) - Akwel SA  AKW.PA :
    * AKWEL 2021 TURNOVER TOTALS EUR 922.4 MILLION
    * CONFIRMATION OF A MARKED DECREASE IN 2021 CURRENT
OPERATING
INCOME
    * VISIBILITY REGARDING GLOBAL VEHICLE MARKET OVER 2022
REMAINS
POOR, AKWEL NONETHELESS ANTICIPATES AN INCREASE IN ITS TURNOVER
    * WILL CONTINUE TO INVEST IN ITS LONG-TERM DEVELOPMENT BY
FOCUSING
ON PRODUCT DEVELOPMENTS, PARTICULARLY NEW MOBILITY SOLUTIONS
    * OPERATING INCOME FOR 2021 IS EXPECTED TO HAVE FALLEN BY
AROUND
35%, INCLUDING AN ADDITIONAL PROVISION FOR WARRANTY RETURNS OF
AROUND EUR 7M, FOR A SIMILAR LEVEL OF CURRENT OPERATING MARGIN
TO 2018 AND 2019 FINANCIAL YEARS
    * DISRUPTION TO PRODUCTION AND COST INCREASES FROM SUPPLY
LIMITATIONS WILL, AS PREDICTED, WEIGH HEAVILY ON CURRENT
OPERATING INCOME FOR 2021

Source text for Eikon:  ID:nGNE6g2jvL 
Further company coverage:  AKW.PA 

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