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.
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”.