Akwel expects ‘significant drop’ in earnings despite revenue growth

Champfromier, France – French automotive and HGV equipment and systems maker Akwel expects a “significant drop” in earnings for 2022, amid ongoing supply difficulties and inflation across “all operation costs”.

In its third quarter financial release, the French group said it expected ‘moderate growth’ in revenue over the whole of 2022, but said it was difficult to pass on all operating costs in the short term.

Over the first nine months of the year, the manufacturer posted a 5.7% year-on-year increase in sales to just under €740, reflecting an 18.7% year-on-year increase in third quarter revenue to €251 million.

The release did not provide earning figures for the period.

In its half-year financial report published in September, Akwel reported a 35% decrease in earnings to €42 million, on 0.7% higher sales of €491 million.