06 May 2021
PUBLICATION OF TURNOVER FIGURES FOR THE 1st QUARTER OF 2021
- 6.3% growth at constant scope and exchange rates
- A high level of cash flow generation
Consolidated turnover for the 1st quarter of 2021 (from 1 January to 31 March)
In € millions - unaudited | 2021 | 2020 | Variation | LFL variation (*) |
1st quarter | 273.3 | 273.5 | -0.1 % | +6.3 % |
(*) Comparing like-for-like figures
A STILL FRAGILE RECOVERY IN THE GLOBAL MARKET
The evolution of the world market in the first quarter of 2021 had two main characteristics: a rebound in automotive production, mainly driven by
OUTPERFORMANCE IN
The geographical breakdown of turnover by production zone was as follows:
France : €77.8m (-2.6%)Europe (excludingFrance ) andAfrica : €86.3m (+3.8%)North America : €67.1m (-4.0%)Asia and theMiddle East (includingTurkey ): €40.5m (+3.9%)South America : €1.6m (-2.4%)
On a like-for-like basis,
EXCELLENT PERFORMANCE BY THE AIR AND OIL ACTIVITIES
Products and Functions turnover was €262.8m, that is a posted growth of 0.8%. The most significant increases were in the Oil business which has seen new start-ups, and in the Air business, which continues to grow. The Decontamination product family continues to grow via more atypical aftermarket sales in SCR tanks. Conversely, the Washing product family continued to decline, following decisions to change the range, and the Control business, which is highly localised in
As for Tooling, turnover for fell by 14% to €8.0m.
THE GROUP CONTINUES TO GENERATE SIGNIFICANT FREE CASH FLOW
In line with the trend from 2020, the group was able to generate through its operating performance, an improvement in working capital and the control of investment budgets significant free cash flow amounting to €22.2m in the first quarter of 2021.
2021 OUTLOOK
As indicated during the presentation of the 2020 results, the strong tensions on raw materials and electronic components are reducing the visibility on the evolution of the global automotive market. Against this backdrop,
Next press release: Turnover for the first half of 2021, on |
An independent, family-owned group listed on the Operating in 20 countries across every continent, Euronext Paris – Compartment B – ISIN: FR0000053027 – Reuters: AKW.PA – Bloomberg: AKW:FP |
(1) Source: IHS Markit,
Attachment
- 2021-05-06_AKWEL_TO-Q12021
© OMX, source