Exhibit 99.1

 

LOGO   NEWS RELEASE

Visteon Reports Strong 2017 Financial Results

 

    Delivered strong financial performance

 

    Sales of $3,146 million ($797 million in fourth quarter)

 

    Net income of $176 million ($25 million in fourth quarter)

 

    Adjusted EBITDA of $370 million ($102 million in fourth quarter)

 

    Net cash provided from operating activities of $217 million ($86 million in fourth quarter)

 

    Adjusted free cash flow of $148 million ($58 million in fourth quarter)

 

    Cash of $709 million, debt of $393 million

 

    Awarded record new business with lifetime revenue of $7.0 billion in 2017, up 30 percent over prior year

 

    Executed $200 million of share repurchases during 2017

VAN BUREN TOWNSHIP, Mich., Feb. 22, 2018 — Visteon Corporation (NASDAQ: VC) today announced full-year 2017 results, reporting net income attributable to Visteon of $176 million, or $5.47 per diluted share, including $14 million of restructuring expenses and $31 million of other net expenses, partially offset by $17 million of net income associated with discontinued operations.

Full-year sales were $3,146 million, a decrease of $15 million compared with 2016, primarily attributable to the exit of Other operations, partially offset by an increase in Electronics Product Group sales. Net cash provided from operating activities was $217 million for full year 2017.

In 2017, global vehicle manufacturers awarded Visteon new business of $7.0 billion in lifetime revenue, with a record $2.4 billion in the fourth quarter. Fourth-quarter wins included all-digital instrument cluster wins with three global automakers – including the company’s first all-digital cluster win in Japan – as well as a software-only Phoenixwin in Europe. The ongoing backlog, defined as cumulative remaining life-of-program booked sales, was $19.4 billion as of Dec. 31, 2017, up from $16.5 billion at the end of 2016, an increase of 18 percent.

“We finished the year strong, delivering our 12th consecutive quarter of year-over-year improvement in adjusted EBITDA margin,” said President and CEO Sachin Lawande. “We accomplished our key strategic priorities for 2017, including strengthening the core business, achieving double-digit sales growth in China, and developing the DriveCore Level 3-plus autonomous driving platform. By winning a record $7 billion in new business, we made excellent progress toward our 2017-18 target of $12 billion in new business. Our 2017 performance keeps us on track to meet our long-term growth targets.”

Fourth Quarter in Review

Visteon Corporation

Fourth-quarter sales were $797 million, compared with $816 million for the same period in 2016. The $19 million decrease is primarily related to the exit of Other operations and customer pricing, partially offset by Electronics product launches and favorable currency.

 

1


The following information was filed by Visteon Corp (VC) on Thursday, February 22, 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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