Improving the experience of a world in motion
Recent developments - Q2 FY19
Actual
Q1
$4.2B
Revenue
Adj. EBITDA
$176M
Incl. equity income of $83M
Free Cash Flow
$(272)M
Q2
~$4.2B
Preliminary
Preliminary results B/(W) vs. Q2FY18 $(371)M
~ $185-195M
Incl. equity income of $60M
Preliminary results B/(W) vs. Q2FY18 $(172)M*
~ $45-60M
Preliminary results B/(W) vs. Q2FY18 +$199M*
> Preliminary second quarter results in-line with previous guidance
First half
-$8.4B
Preliminary results B/(W) vs. H1FY18 $(417)M
~ $361-371M
Incl. equity income of $143M
Preliminary results B/(W) vs. H1FY18 $(262)M*
2
~ $(227)-(212)M
Preliminary results B/(W) vs. H1FY18 +$197M*
ADIENT
Equity income in Q2FY19 impacted by a significant decrease in vehicle production in China and continued challenges at YFAI
(preliminary Q2FY19 YFAI equity income down between 60% - 70% y-o-y)
> An increased focus on working capital and discretionary spending drove a significant y-o-y improvement in free cash flow for Q2FY19
> Adj. EBITDA and margin expected to improve in the second half of FY19 compared with first half of FY19 as actions taken to improve the
company's operating and financial performance gain traction
> Reposition initiatives expected to result in benefits to cash flow faster than earnings
> Adient expects to record a non-cash long-lived asset impairment charge between $50M - $125M during Q2FY19 (related to SS&M)
Reconciliations of non-GAAP measures related to FY2019 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations
At midpoint of preliminary results
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Adient - Improving the experience of a world in motion
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