Akwel increases turnover 26% in first half

Champfromier, France – French automotive and HGV equipment and systems manufacturer Akwel Group has seen its first half sales lifted 26% to €488 million, as markets recovered from Covid-19.

The second quarter significantly contributed to the improvement, as sales rose 88.7% to €214 million, despite a €12.6 million negative currency impact, Akwel said 29 July.

Despite the year-on-year increase, the manufacturer of automotive fluid management systems said sales figures remained nearly 14% below the levels reported in the first half of 2019.

Akwel noted that its activities continued to be impacted by “major procurement difficulties for the main raw materials and electronic components.” 

“This situation is affecting the organisation of the entire supply chain, resulting in unplanned production stoppages among the [automotive] manufacturers,” it added.

In view of the “tensions”, Akwel said second half visibility remained “particularly poor for the whole international automotive industry in 2021.”

The French manufacturer expects full year sales to increase compared to the low 2020 base but to remain below the pre-pandemic levels of 2019.