Akwel: sales down 4% in Q1

(CercleFinance.com) - Against a backdrop of sluggish global automotive production at the start of the year, Akwel reported a 4% drop in sales to 263.
5 million euros for the first quarter of 2024, including a 3.3% decline on a like-for-like basis.

By geographical area of production, the automotive supplier saw sales increase in North America (+4.3%), but decline in France (-10.9%), in the rest of Europe and Africa (-4.1%), and in Asia and the Middle East (-4.6%).

Excluding the impact of lease obligations, net cash stood at 111.8 million euros at the end of March. In view of the performance recorded in the first quarter, Akwel maintains its expectation of stable business activity for the current year.

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