Akwel - Earnings rebound in 2023, but not much to look forward to in 2024
2023 results slightly better than expected, thanks to the return of growthUndemanding valuation but limited visibility for 2024, which will be sluggish at best, as evidenced by Q1 organic sales down by 3%.A complicated sector, both industrially and in terms of the stock market, with many changes and uncertainties.Despite a significant potential upside, we remain at ADD in the absence of a catalyst.MGI Coutier and its subsidiaries are engaged in the manufacture of automobile parts, which are divided into 6 divisions: The motor division designs and manufactures components for engines. The mechatronics division develops and supplies electrical components. The ventilation and accessory division designs and manufactures plastic cockpit equipment and mechanisms. The opening mechanism division specializes in opening mechanisms and door hinges. The fuel and fluid systems division focuses on fuel systems. The distribution and spare parts division markets Co.'s products to wholesalers, and produces metal and plastic parts for use in household appliances, office equipment and cycles.
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