The company has recorded an annual turnover of €1,062.2 million, up 3.7 per cent and 9.4 per cent on a like for like basis and at a constant exchange rate. (€1=RM4.66)
This business growth occurred against the decline of the global automotive market for the first time in 10 years.
AKWEL also recorded EBITDA of €124.6 million and current operating profitability of €77.4 million.
The current operating profitability was adversely affected by the pick-up in growth of recently opened sites in Morocco, Mexico, China and Thailand, and, the continuation of development and industrialisation projects.
The tensions surrounding a number of raw materials and the non-recurring impact of a €23 million provision for warranty returns also affected the profitability.
In a global automotive environment that will remain challenging, AKWEL has set itself to continue supporting its strategic customers in the evolution of their models and optimising its operating conditions throughout this year.
This year will be a consolidation year for the group, which anticipates further business growth, with a return to a positive free cash flow and reaffirms its objective of achieving turnover of around €1.2 billion by 2020.
-- BERNAMA
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