Akwel first-half sales fall 19% as automotive slowdown continues

Champfromier, France – French automotive supplier Akwel has reported an 18.7% year-on-year decline in first-half revenue, reflecting continued weakness in the automotive sector, while confirming its full-year sales guidance.

Revenue for the six months ended 30 June fell to €415 million from €510.6 million a year earlier, or 16.9% lower at constant scope and exchange rates, Akwel reported 23 July.

Second-quarter revenue declined 18.3% year-on-year to €208 million, or 17.6% at constant scope and exchange rates.

The French group said exchange rates had an adverse impact of €2 million during the quarter, including €1.8 million related to the US dollar.

By region, revenue in Europe, the Middle East and Africa (EMEA) fell 24.5% year-on-year to €264.3 million, while sales in the Americas declined 5.6% to €136.1 million and Asia revenue dropped 11.8% to €14.6 million.

Revenue from Akwel's Products and Functions business decreased 18.7% to €404.4 million.

Within the business, the sharpest decline was in the pollution control business, where revenue fell 68% year-on-year following the shutdown of SCR (selective catalytic reduction) tank production (ERJ report).

Cooling products declined 1.9%, air products 17%, mechanisms 6.4%, fuel systems 21.4% and regulation products 6%.

Revenue from the Tools business fell 7.6% year-on-year to €8.1 million.

Looking ahead, Akwel reaffirmed its expectation that consolidated revenue for the full 2026 financial year will decline by 12-15%.