Aptiv reported Q4 2022 revenue of US$4.6bn, up 12% year on year. This reflected growth of 22% in Europe, 21% in North America, 12% in Asia, which includes 8% in China, and 40% in South America.

Net income of $233m and earnings of $0.86 per share compared to $15m and $0.06 a year previously.

Q4 adjusted operating income was $523m versus $310m. Adjusted operating income margin was 11.3% compared to 7.5% due to increased global vehicle production and material cost recovery.

For full year 2022, the company booked revenue of $17.5bn, also up 12%, on growth of 20% in North America, 15% in Asia, which included 15% in China, 11% in Europe and 37% in South America.

Net income of $531m and earnings of $1.96 per share compared to $527m and $1.94 in 2021.

Adjusted operating income of $1,585m compared to $1,378m for 2021. Adjusted operating income margin was 9.1% versus 8.8% thanks to increased global vehicle production and material cost recovery, offset partially by the adverse impacts from pandemic lockdowns in China, global inflationary pressures and the worldwide semiconductor shortage.

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In Q4, Aptiv completed acquisition of Wind River Systems and acquired an 85% interest in Intercable Automotive Solutions.

Kevin Clark, chairman and chief executive officer, said: “We achieved a second year of record new business bookings and revenues increased 16% in 2022.” He added “macroeconomic uncertainty, supply disruptions and inflationary cost impacts” were “likely to persist in 2023”.