Akwel, a systems supplier to the automotive and truck industries, has announced sales of €988.5 million for 2022, up 7.1% overall and 11.3% on a like-for-like basis.

Supply constraints and difficulties in passing on inflationary impacts on its operating costs have weighed, as expected, on the Group's profitability, with recurring operating income for 2022 expected to fall by around 40%.

For the 2023 financial year, against a backdrop of still very limited visibility on the global automotive market given economic and geopolitical tensions, Akwel expects sales to grow slightly.

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