Akwel (AKW) Q3 2024 TU earnings summary

Executive summary

• Nine-month consolidated revenue reached €757.7M, a decrease of 5.2% compared to the same period in 2023.

• Third-quarter revenue declined 9.6% year-over-year to €228.9M, reinforcing the downward trend.

Financial highlights

• Revenue at constant scope and exchange rates fell 4.8% for the nine-month period.

• Net cash position stood at €140.5M as of October 31, 2024, up €25.4M from June 30, after €8.8M in investments during the quarter.

Outlook and guidance

• Full-year revenue is expected to decline, impacted by the phase-out of SCR series activity and challenging market conditions.