CHAMPFROMIER, France—French automotive and HGV equipment and systems maker Akwel has seen a "marked decrease" in first half earnings (EBITDA), due mainly to increasing costs.
Over the first six months of the year, the French group posted a 35-percent decrease in earnings to $41.2 million (€42 million), on 0.7-percent higher sales of $481 million.
Sales, said Akwel in a Sept. 22 statement, improved due to a strong 18.4-percent growth in North America in a "market that remains widely disrupted by supply limitations."
The group linked the significant drop in earnings to the sharp increase in inflation, impacting the cost of raw materials, components, energy, transport and labor.