Visteon has posted second-quarter net income of US$65m, down from US$75m in the comparable period last year.
Second-quarter adjusted EBITDA was US$187m, increasing from US$147m in the same time frame in 2012.
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Second-quarter sales were US$1.89bn – a rise of US$199m – while Visteon increased its 2013 full-year outlook for several key financial metrics based on improved business conditions compared with earlier planning expectations.
“We had a very strong quarter and continue to benefit from the momentum of our value-creating strategic plan,” said Visteon president and CEO, Tim Leuliette.
“I am pleased key performance metrics of sales, gross margin and adjusted EBITDA improved year-over-year in all regions, including Europe, where the overall economy remains weak.
“We are raising full-year guidance in view of our positive performance and generally favourable business conditions in key markets.
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By GlobalData“Our strong technology is positively impacting our results as key new vehicle programmes with Visteon content – particularly in climate and electronics – launch around the world.
“We remain focused on implementing strategic actions to further drive value for customers and shareholders.”
