Seating specialist Adient booked a Q2 2022 net loss of US$81million and a loss of $0.85 per share.
Adjusted EBITDA was $159 million, down $144 million year on year.
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The company had cash and cash equivalents of $1,118 million at 31 March, 2022 while gross debt and net debt totaled $2.9 billion and $1.8 billion respectively.
Voluntary principal debt repayment of just over $700 million was completed in Q2, further advancing the company’s capital structure transformation; a significant focus on cash and liquidity given the challenging operating environment, the supplier said.
