Akwel: MOC down in 1st half

(CercleFinance.com) - Akwel has reported net income, group share, of 20.
2 million euros for the first half of 2024, and current operating income down 21.6% to 24.4 million on a restated basis, representing a margin (MOC) down 1.1 points to 4.6%.

Sales fell by 3.1% to 528.8 million (-2.8% on a like-for-like basis), with a more marked decline in France (-13.5%) and the rest of Europe (-1.6%), but increases in North America (+4.4%) and Asia (+0.5%).

Akwel, the automotive industry's leading systems supplier, anticipates a slight decline in sales for the current financial year, including a drop in the SCR series business ahead of a planned production shutdown in 2025 (excluding the SCR spare parts business).

In addition, Akwel plans to cancel 190,800 treasury shares in the near future, representing 0.7% of share capital at August 31, 2024, following the share buyback program implemented in 2023.

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