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July 31, 2020

Aptiv posts second-quarter net loss of US$369m

Aptiv has reported a second-quarter net loss of US$369m.

By Rhodri Morgan

Aptiv has reported a second-quarter net loss of US$369m.

Revenue fell 46% to US$2bn, which includes volume declines of 42% primarily resulting from the impacts of the COVID-19 pandemic.

“I am extremely proud of how our organisation came together and operated as One Aptiv during the second quarter, keeping our employees safe while delivering for our customers in the wake of the pandemic,” said Kevin Clark, Aptiv president and CEO, Kevin Clark.

“Our teams worked tirelessly to ensure Aptiv’s facilities were ready to safely resume operations while also executing launches flawlessly with our customers. As a result, our second-quarter performance reflects the benefits of our strategically positioned product portfolio and our more sustainable business model.

“As we move forward, we are prepared for the possibility of continued variability in customer and market demand, leveraging our flexible cost structure, strong balance sheet and key growth initiatives to remain resilient in the face of these challenges while continuing to create long-term value for all of our stakeholders.”

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