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AKWEL's 2023 Turnover Up by 7.9%
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Overview
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AKWEL, a parts and systems manufacturer for the automotive and heavy-vehicle industry, recorded a consolidated turnover of €1,066.4M for 2023, up by +7.9%. The company's turnover was affected by currency fluctuations, resulting in a negative impact of -€16.8M for the year. The main drivers of turnover growth were Products and Functions, with Air intake, Washer systems, and Cooling product lines being the strongest drivers. AKWEL anticipates a similar level of business activity in the current financial year based on forecasts of stable global automotive production in its main markets in Europe and North America.
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How might AKWEL's turnover growth be influenced by changing trends in the automotive and heavy-vehicle industry?
In what ways might AKWEL's performance reflect broader economic conditions in Europe and North America?
What strategies could AKWEL employ to mitigate the impact of currency fluctuations on its financial performance?
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