AKWEL

annual turnover for 2023 up by +7.9%

        Thursday, February 8, 2024

ANNUAL TURNOVER FOR 2023 UP BY +7.9%

Turnover up 9.6% at constant scope and exchange rates.

Net cash of €118.3M

Expected impact of restructuring on net income for 2023

AKWEL (FR0000053027, AKW, PEA-eligible), parts and systems manufacturer for the automotive and heavy-vehicle industry, specialist in fluid management, mechanisms and structural parts for electric vehicles, has recorded a consolidated turnover of €1,066.4M for 2023.

Consolidated turnover (from January 1 to December 31)

in €m — unaudited	2023	2022	Variation	PCC variation (1)
1st quarter	274.6	245.8	+11.7%	+10.9%
2nd quarter	271.2	242.3	+12.0%	+13.6%
3rd quarter	253.1	251.1	+0.8%	+4.6%
Nine-month total	799.0	739.2	+8.1%	+9.6%
Nine-month report published	781.9	739.2	+5.8%	+12.3%
4th quarter	267.4	249.4	+7.2%	+9.4%
Twelve-month total	1,066.4	988.5	+7.9%	+9.6%

⁽¹⁾   At constant scope and exchange rates.

CHANGE IN ACCOUNTING POLICY FOR TURKISH SUBSIDIARIES

At the request of the Group’s statutory auditors, results for the Turkish subsidiaries will henceforth be consolidated with the euro as the functional currency, with an analysis of contracts in Turkish lira having shown beneficial indexation to the euro. This change, which will entail changes to financial statements from previous years, will offset the effect of exchange rates on integrating local activities. The turnover for each quarter in 2023 has been reprocessed accordingly in the table above.