CHAMPFROMIER, France—French automotive and HGV equipment and systems maker Akwel has posted a 7.1-percent year-on-year increase in turnover, to $1.04 billion (unaudited) for 2022, or 11.3 percent on a like-for-like basis.
However, Akwel expects operating income to fall by around 40 percent for 2022, due to "supply constraints and difficulties in passing on the inflationary impacts recorded across all operating costs."
The like-for-like sales performance reflected respective gains of around 17 percent, 22 percent and 15 percent in quarters two, three and four, which offset a first-quarter decline of around 4 percent, Akwel reported Feb. 9.
In the final quarter, for instance, Akwel's consolidated turnover of $262.3 million, was up by 11.5 percent when comparing published figures and by 14.6 percent when taking exchange rates and scope as constants.
The third consecutive quarter of increased activity was achieved "in an environment that continues to be disrupted by component shortages and inflation," Akwel noted.