Adient has reported unchanged second-quarter net income of US$168m with revenue of US$4.6bn.
“We expect profitability for the Seat Structures & Mechanisms business to progress back to pre-spin levels, providing significant improvement compared with our FY18 outlook,” said Adient chairman and CEO, Bruce McDonald.
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“Beyond 2020, fundamental changes to the business will be necessary to ensure appropriate financial returns are achieved.”
Adient has 85,000 employees operating in 238 manufacturing/assembly plants in 34 countries worldwide, producing and delivering automotive seating for all vehicle classes and all major OEMs.
During Q2, Adient reorganised certain elements of its management structure which resulted in a realignment of its reportable segments (Seating, Seat Structures & Mechanisms and Interiors) and also began to assess the performance of its segments using Adjusted-EBITDA
From complete seating systems to individual components, Adient takes its products from research and design to engineering and manufacturing for more than 25m vehicles every year.
