Adient Plc (ADNT) 10-Q Quarterly Report February 2020

PRESS RELEASE Jan. 31, 2020 Adient reports solid first quarter 2020 financial results Solid expected Q1 results, to result combined in increased with FY20 recently earnings announced and accelerated strategic actions, debt repayment are > Impacted by

one-time, non-cash charges, Q1 GAAP net loss and EPS diluted of $(167)M and $(1.78) respectively; Q1 Adj.-EPS diluted of $0.96 > Q1 Adj.-EBITDA of $297M, up $121M y-o-y; Adj. EBITDA margin of 7.5%, up 330 bps y-o-y > Cash and cash equivalents of $965M at Dec. 31, 2019 > Gross debt and net debt totaled $3,754M and $2,789M, respectively, at Dec. 31, 2019 > Earnings and cash flow growth, combined with proceeds from recently announced strategic actions, totaling ~$400M, are expected to be used to pre-pay a portion of Adient’s debt FY 2020 Q1 FINANCIAL RESULTS OVERVIEW NET INCOME (LOSS) EPS REVENUE EBIT attributable to Adient DILUTED AS REPORTED $3,936M $(42)M $(167)M $(1.78) vs. Q1 19 -5% NM NM NM ADJ. ADJ. ADJ. NET INCOME ADJ. EPS EBIT EBITDA attributable to Adient DILUTED AS ADJUSTED $218M $297M $90M $0.96 vs. Q1 19 108% 69% 210% 210% For non-GAAP and adjusted results, see appendix for detail and reconciliation to U.S. GAAP NM — Not a meaningful comparison POSITIVE MOMENTUM CONTINUES Adient improved its Adj.-EBITDA for the fourth consecutive quarter and posted its first quarter of y-o-y improvement since Q4FY17. Results improved in the Americas, EMEA and Asia. IMPROVEMENT PHASE OF TURNAROUND PLAN SOLIDLY ON TRACK With operations stabilized in FY19 and steadily improving, management is beginning to execute strategic actions and accelerate debt pre-payment to further position Adient for long-term success. ANNOUNCED STRATEGIC ACTIONS WITH JV PARTNER IN CHINA The recently announced agreement with JV partner Yanfeng to restructure existing JV relationships demonstrates Adient’s commitment to enhancing shareholder value. The agreement includes the sale of Adient’s 30% ownership stake in YFAI; extension of its JV agreement with YFAS; and amendments to the AYM JV agreement. ADIENT AND LG PARTNER AT CES Adient partnered with LG at the Consumer Electronics Show (CES) to display its AI19 vehicle interior, which integrates LG’s electronic technology with Adient’s industry-leading seats. “Adient’s first quarter results lay a firm foundation for the company to deliver on its FY20 commitments. Continuing to execute our turnaround plan, combined with recently announced strategic actions, will further position Adient for long-term success.” — Doug Del Grosso, President and Chief Executive Officer

The following information was filed by Adient Plc (ADNT) on Friday, January 31, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: ADNT
CIK: 1670541
Form Type: 10-Q Quarterly Report
Accession Number: 0001670541-20-000004
Submitted to the SEC: Fri Feb 07 2020 4:13:38 PM EST
Accepted by the SEC: Fri Feb 07 2020
Period: Tuesday, December 31, 2019
Industry: Motor Vehicle Parts And Accessories