Saturday, April 10, 2021

AKWEL RECORDS STRONG IMPROVEMENT IN 2020 PROFITABILITY

KUALA LUMPUR, April 9 (Bernama) -- AKWEL, an automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has posted its 2020 annual results.

Due to the upturn in activity during the last four-month period, the annual fall in turnover was -14.9 per cent and -10.9 per cent, at a constant exchange rate and comparable perimeter.

The EBITDA increased by 34.6 per cent, caused by the group quickly adapting to its cost structure under crisis conditions, work focusing on profitability and levels of operational maturity of new sites.

The group’s self-financing capacity of €154.4 million, improvement in working capital requirements down by €7.7 million, and management of investment budgets (€34 million) resulted in free cash flow generation of €128.2 million. (€1 = RM4.923)

With a positive net cash position of €60.6 million, AKWEL enjoys a particularly solid financial situation enabling it to come through this crisis. 

According to a statement, the payment of a dividend of €0.45 per share will be proposed for the 2020 financial year.

AKWEL is forecasting an increase in activity over the financial year underway but at this stage is not anticipating a level of profitability and cash generation comparable to that seen during the 2020 financial year.

 The outlook for new mobility solutions - and particularly the development of hydrogen - and increasing demands in the Corporate Social Responsibility field will be key areas to be focused this year.

-- BERNAMA

No comments:

Post a Comment