KUALA LUMPUR, April 6 (Bernama) -- AKWEL, the automotive and heavy goods vehicle (HGV) equipment and systems manufacturer specialising in fluid management, mechanisms and structural parts for electric vehicles, has announced its 2022 annual results.
In an automotive production market that is still subject to strong tensions, the AKWEL Group ends 2022 with a 7.4 per cent annual increase and up 11.3 per cent on a like-for-like basis.
According to AKWEL in a statement, the delay in the impacts of increases in purchase prices on sale prices weighed heavily on the Group’s results in 2022.
Its current operating income amounted to €38.6 million, representing a margin of 3.9 per cent, down 4.3 points compared to 2021, while net income Group share stands at €11.1 million. (€1 = RM4.79)
The business generated cash-flow of €48.9 million for an investment flow of €33.2 million leading to a positive net cash position of €113.7 million compared with €98.2 million at the end of 2021.
The distribution of a dividend of €0.30 per share for 2022 will be proposed at the Annual General Meeting on May 25.
For this year, AKWEL remains cautious with regard to the sector’s recovery forecasts and anticipates a slight increase in turnover and continued tension over production costs.
Operating in 20 countries across every continent, AKWEL employs 9,500 people worldwide.
-- BERNAMA
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