Akwel sales drop 3% as global vehicle output slows

Champfromier, France – Automotive and heavy?vehicle parts maker Akwel reported a year?on?year dip in first?quarter sales, blaming lower worldwide vehicle production.

Revenue for the three months to the end of March fell to €255?million, down 3?% or by 4?% at constant scope and exchange rates.

The favourable impact of foreign exchange rates amounted to €2.8 million, of which the US dollar accounted for €2.3 million.

Akwel said vehicle output contracted in most major manufacturing countries during the quarter, with the exception of China and Japan. The drop was 'less pronounced' in Germany, India and Mexico.

By production region, EMEA generated €170?million, down 3.8?% year?on?year. Sales in the Americas slipped 1.9?% to €76?million, while Asia grew 2.8?% to €8.5?million.

In its “Products and Functions” division, revenue fell 3.3?% to €248?million. Within that, the 'decontamination' and 'cooling' product lines rose 10.4?% and 4.5?% respectively, but air, mechanism and fuel lines declined 27?%, 8.7?% and 27?%.

The Champfromier-based group’s tooling division reported ‘a relatively stable’ revenue of €5.6 million.

With “very limited visibility of the automotive market,” Akwell expects 2025 sales to fall below the 2024 levels.