Akwel (AKW) H2 2024 earnings summary

Executive summary

• 2024 revenue declined 7.3% year-over-year to €989.0M, with sharper drops in France (-19.1%).

• Net income fell 32.3% to €24.2M, with a net margin of 2.4% versus 3.3% in 2023.

• EBITDA decreased 14.4% to €87.2M; current operating margin dropped to 3.9% from 5.7%.

• Free cash flow reached €55.4M; net cash position improved to €133.4M from €105M.

• Proposed dividend of €0.30 per share, unchanged from the prior year.

Financial highlights

• Revenue: €989.0M (-7.3% year-over-year); EBITDA: €87.2M (-14.4%).

• Current operating income: €38.4M (-37.1%); operating income: €39.7M (-19.4%).

• Net income: €24.2M (-32.3%); net margin: 2.4% (-0.9 pts).

• Operating cash flow: €95.7M (+49.7%); free cash flow: €55.4M.

• Net cash position: €133.4M at year-end 2024.

Outlook and guidance

• 2025 activity expected to decline at a rate similar to 2024 due to global market contraction and EV production delays.

• Focus on cost adaptation, technical capability strengthening, and organizational agility amid limited market visibility.