(AOF) – Akwel (+6.43% to 15.22 euros) progresses after the publication of its 2023 results. The automotive equipment manufacturer “specialist in the management of fluids, mechanisms and structural parts of vehicles” posts a result net share of the group up 41.1% to 35.7 million euros for a turnover up 7.8% to 1.06 billion euros. Current operating profit jumped 64% to 61 million euros. The distribution of a dividend of 0.30 euros per share for the 2023 financial year will be proposed at the Annual General Meeting of Shareholders on May 23, 2024.
“Given global automotive production expected to be stable in 2024 in European markets and North America”, the group anticipates activity “at the same level as in 2023” for the current financial year.
AOF – LEARN MORE
Negotiations with manufacturers
On average, equipment manufacturers represent between 60 to 85% of the manufacturing cost price of a vehicle. According to the Federation of Vehicle Equipment Industries (Fiev) negotiations are very tense with manufacturers regarding the passing on of the increase in costs. The price increases concern electronic components, raw materials, such as steel, nickel, lithium or palladium, energy and transport. The equipment manufacturers mainly negotiate with Stellantis and Renault to set up indices to pass on the increases. They are also betting on innovation, differentiation, moving upmarket and internationalization.