Adient writes Q4 net result in red ink - Just Auto
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Adient writes Q4 net result in red ink

01 Dec 2020

Seating supplier Adient has released fourth quarter 2020 financial results.

Seating supplier Adient has released fourth quarter 2020 financial results.

Impacted by one-time, non-cash charges, the company booked a Q4 GAAP net loss and EPS diluted loss of US$36 million and $0.38 respectively,

Q4 adjusted EPS diluted was $1.15.

Q4 adjusted EBIT and adjusted EBITDA were $199m and $287m.

The Q4 adjusted EBITDA was up 33% year on year despite an 8% decrease in Q4 revenue which was impacted by lower global production volume and Adient specific launches.

Cash and cash equivalents were $1,692m at 30 September, 2020; total liquidity was $2.5bn.

Gross debt and net debt were $4,307m and $2,615m, respectively, at 30 September 2020.

Adient voluntarily began to repay a portion of its debt in Q4 ($103.5m in principal using $99.8m in cash).