KUALA LUMPUR, April 8 (Bernama) -- AKWEL, the automotive and HGV equipment and systems manufacturer specialising in fluid management and mechanisms, has posted its 2021 annual results.
According to a statement, AKWEL managed to achieve its objective of increasing business, with reported revenue down 1.6 per cent but up 2.8 per cent at constant scope and exchange rates.
Gross operating surplus (EBITDA) was down 33.2 per cent. Profit from recurring operations was €75.2 million, down 33.8 per cent, representing a current operating margin of 8.2 per cent, comparable to pre-crisis results. (€1 = RM4.581)
This level of profitability continues to position AKWEL as one of the best-performing European auto parts manufacturers.
AKWEL generated a free cash flow of €57.1 million in 2021, leading to a positive net cash position of €98.2 million. The distribution of a dividend maintained at €0.45 per share will be proposed at the Annual General Meeting of Shareholders.
Production uncertainties remain high on commodities and components and an inflationary global environment reinforced by the geopolitical situation.
With a robust financial position, the Group will increase its investments from 2022 to optimise the competitiveness of its sites, and to make the most of all the opportunities identified in terms of product potential as part of the transition from thermal combustion engines to electricity and hydrogen.
Operating in 20 countries across every continent, AKWEL employs 9,700 people worldwide.
-- BERNAMA
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