KUALA LUMPUR, Nov 10 (Bernama) -- AKWEL, parts and systems manufacturer for the automotive and heavy-vehicle industry, has posted a consolidated turnover of 781.9 million euros, over the first nine months of 2023. (1 euro = RM5.03).
According to a statement, over nine months, AKWEL's turnover, at constant scope and exchange rates, is up 12.3 per cent propelled by activity in France and Europe.
AKWEL has completed its third quarter with a consolidated turnover of 248.7 million euros, a slight decline of 0.9 per cent in comparison to 2022 and the group’s performance is staying dynamic with an increase of 9.2 per cent at constant scope and exchange rates.
The most dynamic product lines with increments were Air (23.6 per cent), Washing (19.5 per cent) and Cooling (9.7 per cent) activities, while the Structural Parts for electric vehicles continued to grow with a turnover of 15.3 million euros (71.7 per cent).
On Sept 30, the consolidated net cash without lease obligations reached 108.1 million euros, with an amount of 42.6 million euros investments over the first nine months.
In terms of continuing the performance over the first nine months, AKWEL confirms that it is expecting an annual revenue growth of 10 per cent, at constant scope and exchange rates, thus resulting in an increase of at least five per cent in recorded data.
Working in 21 countries across five continents, AKWEL employs 9,500 employees worldwide.
-- BERNAMA
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