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May 5, 2020

Aptiv Q2 revenue falls 10% to US$3.2bn

Aptiv has recorded second-quarter revenue down 10% to US$3.2bn as global manufacturing deals with the coronavirus pandemic.

By Rhodri Morgan

Aptiv has recorded second-quarter revenue down 10% to US$3.2bn as global manufacturing deals with the coronavirus pandemic.

Operating income was US$1.62bn, which includes a gain of US$1.4bn resulting from the completion of the autonomous driving joint venture with Hyundai.

“Initially in China, and then globally, we implemented robust measures in each of our facilities to ensure employees were protected and safe restart protocols were in place,” said Aptiv president and CEO, Kevin Clark.

“During the first quarter, we also took decisive actions in partnership with our key stakeholders, to preserve our financial strength and better position Aptiv to navigate, innovate and lead through the disruption.

“Reflecting on the progress we have made the past few years to strengthen our through-cycle resiliency, we entered these unprecedented times with an incredibly strong balance sheet, robust business model and strategically positioned product portfolio.”

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