CHAMPFROMIER, France—French automotive and HGV equipment and systems maker Akwel expects a "significant drop" in earnings for 2022, amid ongoing supply difficulties and inflation across "all operation costs."
In its third quarter financial release, the French group said it expected "moderate growth" in revenue over the whole of 2022, but said it was difficult to pass on all operating costs in the short term.
Over the first nine months of the year, the manufacturer posted a 5.7-percent year-on-year increase in sales to just under $800 million, reflecting an 18.7-percent year-on-year increase in third quarter revenue to $272 million.
The release did not provide earning figures for the period.
In its half-year financial report published in September, Akwel reported a 35-percent decrease in earnings to $41.2 million, on 0.7-percent higher sales of $533 million.
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