Akwel sales impacted by declines in France, Europe-wide

Champfromier, France – French automotive and HGV equipment and systems maker Akwel has reported a 3.1% year-on-year fall in first half sales.

Noting market declines in Europe and South America, the group posted sales of €529 million for the first six months of the year, down from €545 million in the same period last year.

At constant scope and exchange rates, revenue decreased by 2.8%, with a negative foreign exchange impact of €2 million, Akwel's report issued 25 July also shows.

Breaking the performance down by region, Akwel noted a 13.5% decline in sales in France and a 1.6% drop in Europe to a combined total of around €290 million.

Sales in North America grew 4.4% year-on-year to €159 million, while Asia and the Middle East remained stable at €79 million.

Percentage-wise, the biggest regional decline was seen in South America, Akwel reporting a 36% decline year-on-year to €1.5 million.

In terms of business activity, turnover at the group's 'products and functions' segment fell 5% year-on-year to €503 million.

Here, Akwel's ‘cooling'* product-line registered marginal growth, while its ‘decontamination product-line' saw a sharp 20.5% year-on-year decline.

The decrease in the ‘decontamination'** product line, Akwel noted, explains the sharper decline in activity in France.

For full-year 2024, the French group expects turnover to remain at prior-year level, based on its first half results and the current outlook for global automotive production.

Akwel employs around 9,600 employees worldwide across 36 industrial sites and seven representative offices in over 20 countries.

*Akwel information shows that 'cooling' encompasses among other products pipes, valves and sensor systems employing rubber, plastics and metal technologies. It also cites expertise in ventilation and cooling products for electric and hybrid vehicles. **Under decontamination, Akwel lists solutions for environmental issues, including systems for "transfer, storage, reheating and pumping."