Akwel - Good H1 results, but uncertainty prevails for the future
The Group published H1 results well above our expectations.We have revised upwards our guidance for the year, expecting EBIT Margin to be close to 6%, while maintaining our revenues forecast.Although automobile production is picking up, the impact of strikes in the US could weigh on the Group's growth in H2 and even 2024.We remain "positively" cautious on the stock, which is one of the equipment manufacturers best equipped to cope with the paradigm shift in the automotive sector.ADD recommendation maintained for valuation, but certainly not for newsflowMGI 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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