(AOF) – Akwel lifted the veil Thursday evening on its 2021 results. Thus, the equipment supplier-system for the automotive industry generated a net profit (group share) of 51.2 million euros (-40, 2% compared to 2020) and current operating income of 75.2 million euros (-33.8% over one year), showing a margin of 8.2%, down 3.9 points. Turnover came to 922.5 million euros, down 1.6% on a reported basis, but up 2.8% at constant scope and exchange rates.
“In 2021, production levels in the global automotive industry remained low and growing slowly (+2.5%, source IHS Markit), in an environment still characterized by strong tensions in the supply of raw materials and components. electronics”, explained the specialist in the management of fluids and mechanisms.
Given these elements, Akwel will propose the distribution of a dividend maintained at 0.45 euros per share for the 2021 financial year.
While the global automotive market is expected to grow in 2022, production uncertainties remain high with tensions that will continue on raw materials and components and an inflationary global environment reinforced by the current geopolitical situation, explains Akwel.
In this context, the group, which has no direct exposure to the Ukraine-Russia zone, anticipates a moderate increase in its activity, with profitability probably still penalized by the lack of visibility on customer needs, by prices upward trend in purchases, and difficulty in rapidly passing on the sharp rises in energy and transport costs.
Backed by a particularly robust financial situation, the group will once again increase its investments from 2022 to optimize the competitiveness of its sites, and give itself the means to best exploit all the opportunities identified in terms of product potential in the framework of the transition from internal combustion engines to electric and hydrogen.
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A restructuring of the European market is looming
Faurecia will take over the German Hella in two stages for 6.7 billion euros (if 100% is acquired). Thanks to this operation and the 6 billion euros in additional sales, Faurecia should become the world’s seventh largest player, and no longer the ninth, in the automotive equipment market. It will thus position itself just ahead of the German Continental. Several restructurings are expected to take place among German small and medium-sized companies that have not made the switch to electric. Faurecia’s competitor for the takeover of Hella, Mahle, still generates half of its turnover with gasoline and diesel engines. As for the specialist in exhaust pipes, Eberspächer, it even depends on it at 80%. About 200,000 jobs would be threatened. Continental has already announced the loss of 13,000 jobs in Germany and 30,000 worldwide.