Federal-Mogul Corporation has unveiled a fourth quarter net loss of US$80m, as well as a full-year net loss of US$117m.

The net loss of US$80m in Q4 2012 was due to the weaker European light vehicle and global commercial vehicle markets with negative regional and product mix.

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Without the impact of restructuring, impairments and special items, the company had an adjusted net loss of US$41m in Q4 2012.

Operational EBITDA in Q4 2012 was US$65m due to lower European sales and unfavourable mix, combined with legal and commercial charges of US$19m. Excluding these items, Q4 2012 Adjusted EBITDA was US$84m.

Sales in North America were 3% higher and in Rest of World (ROW) 8% up on a constant dollar basis, but were offset by 4% lower sales in Europe.

The company in China had 9% constant dollar sales growth during Q4 2012 versus Q4 2011.

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Federal-Mogul, for full year 2012, reported a net loss of US$117m with the European market, impairments and special items negatively impacting results. The company had an adjusted net income of US$51m when excluding the impact of impairments, restructuring and special items. Operational EBITDA for the full year 2012 was US$483m.

“We are evaluating the markets closely and anticipate implementing a plan to transfer capacity from higher cost locations to available capacity in lower cost locations in Mexico, Poland, China and other sites,” said co-CEO and Powertrain Segment CEO, Rainer Jueckstock.

“We are balancing Federal-Mogul’s global manufacturing footprint efficiency with the need to support our customer’s planned growth in developing markets and with the need to be ready for the eventual European market recovery.”