In This Article:
Champfromier, Thursday, February 6, 2025
2024 REVENUE OF €989.0M
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Decrease in revenue of -7.3%
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Net cash position of €145.0M
AKWEL (FR0000053027, AKW, PEA-eligible), parts and systems manufacturer for the automotive and heavy-vehicle industry, specialist in fluid management, mechanisms and structural parts for electric vehicles, has recorded for 2024 a published consolidated revenue of €989.0M, down -7.3% compared to 2023.
Consolidated turnover (from January 1 to December 31)
| in €m — unaudited | 2024 | 2023 | Variation | PCC variation (1) |
| 1st quarter | 263.5 | 274.6 | -4.0% | -3.3% |
| 2nd quarter | 265.3 | 271.2 | -2.2% | -2.2% |
| 3rd quarter | 228.9 | 253.1 | -9.6% | -9.2% |
| 4th quarter | 231.2 | 267.4 | -13.5% | -13.7% |
| Twelve-month total | 989.0 | 1066.4 | -7.3% | -7.0% |
(1) At constant scope and exchange rates.
DECREASE OF -13.5% IN FOURTH-QUARTER REVENUE
The last quarter of fiscal year 2024 confirms the trend observed in the previous quarters, with a progressively more marked decline in activity. Fourth-quarter reported revenue was €231.2M, down -13.5% and -13.7% at constant scope and exchange rates. The negative impact of foreign exchange rates amounted to a decrease of €0.5M this quarter, exclusively due to the US dollar.
For the whole of 2024, revenues at constant scope and exchange rates fell by -7.0% with a positive foreign exchange impact of €2.2M.
ANALYSIS OF REVENUE DISTRIBUTION
The geographical distribution of annual revenue by production area is broken down as follows, and points to a situation that continues to be significantly worse in France than in the rest of the world:
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France: €247.6M (-19.1%)
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Europe (excluding France) and Africa: €292.7M (-3.3%)
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North America: €287.4M (-2.9%)
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Asia and the Middle East (including Türkiye): €158.4M (+0.9%)
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South America: €3.0M (-36.1%)
Annual revenue for Products and Functions fell by -8.4% to €945.6M. All product lines were down for the financial year as a whole, but were close to balance for Cooling (-1.3%) and Air (-2.6%), with a sharper downturn for Decontamination (-24.4%) given the gradual end of production of SCR tanks, which is scheduled for 2025. As for the Tools revenue, this reached €31.6M in 2024, up 18.5%.
NET CASH POSITION OF €145.0M
Consolidated net cash excluding the impact of lease liabilities amounted to €145.0M on December 31, 2024, an increase of €4.5M compared to September 30, with €10.8M of investments made this quarter.
PROSPECTS
The decline in activity recorded for the year, which accelerated in the second half, is expected to result in a decrease in current operating margin of around 2 points for the Group in 2024.