Adient Plc (ADNT) 10-K Annual Report November 2018

> Q4 free cash flow of $307M; the expansion of an accounts receivable financing facility initiated in Q3 provided an approximate $48M benefit to free cash flow

> Gross debt and net debt totaled $3,430M and $2,743M, respectively, at September 30, 2018

November 9, 2018

“ I’m confident the challenges that impacted Adient’s FY2018 results are being addressed. The team is focused on executing our transformation plan to drive improved profitability, cash flow, and returns to our shareholders.”

Doug DelGrosso,

President and Chief Executive Officer

FY 2018 Q4 RESULTS OVERVIEW

REVENUE EBIT NET INCOME (LOSS) EPS DILUTED

attributable to Adient

AS REPORTED $4,145M $(1,044)M $(1,355)M $(14.51)

vs. Q4 17 +4% NM NM NM

ADJ. EBIT ADJ. EBITDA ADJ. NET INCOME ADJ. EPS DILUTED

attributable to Adient

AS ADJUSTED $149M $251M $122M $1.30

vs. Q4 17 -50% -36% -44% -44%

For non-GAAP and adjusted results, see appendix for detail and reconciliation to U.S. GAAP NM – not a meaningful comparison

RECENT DEVELOPMENTS

Amended the company’s main credit agreement. The amendment increased the maximum total bank-adjusted net leverage covenant ratio to 4.5x from 3.5x.

Suspended the company’s quarterly cash dividend beginning in Q2 fiscal 2019 to increase financial flexibility and increase focus on debt reduction.

Q4 GAAP net loss was impacted by ~$1.5B of one-time, non-cash charges, primarily associated with asset impairments and the recording of valuation allowances against certain deferred tax assets.

Unconsolidated Seating and SS&M revenue increased to $2.2B (up 3% excluding FX) in Q4; equity income of $83M.

ADIENT FISCAL FOURTH QUARTER 2018 EARNINGS 1

The following information was filed by Adient Plc (ADNT) on Friday, November 9, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Adient Plc provided additional information to their SEC Filing as exhibits

Exhibit 10.21: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: ADNT
CIK: 1670541
Form Type: 10-K Annual Report
Accession Number: 0001670541-18-000065
Submitted to the SEC: Thu Nov 29 2018 5:05:39 PM EST
Accepted by the SEC: Thu Nov 29 2018
Period: Sunday, September 30, 2018
Industry: Motor Vehicle Parts And Accessories