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,

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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.

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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).

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