just-auto.com

Aptiv Q2 net income falls 6% to US$274m

By Simon Warburton | 1 August 2019

Aptiv has reported second-quarter net income down 5.8% to US$274m, while revenue fell 2% to US$3.6bn.

"Aptiv's second-quarter performance, including sustained strong above-market growth despite weak global vehicle production, reflects the efforts we have taken to build a more sustainable business, positioned to efficiently solve our customer's toughest challenges," said Aptiv president and CEO, Kevin Clark.

"As evidenced by our performance in the first half of this year, we are well-positioned to outperform in any environment, giving us confidence in our ability to deliver on our commitments for the remainder of the year despite our expectation of continued market headwinds.

"Further, our effective execution, investments for growth and disciplined capital deployment priorities have further strengthened our technology position and robust business model, allowing us to deliver long-term sustainable value to our shareholders."

Year-to-Date 2019 results:

For the six months ended 30 June, the supplier reported revenue of US$7.2bn, a decrease of 2% from the prior year period. Adjusted for currency exchange, commodity movements and divestitures, revenue increased by 4% during the period.

This reflects growth of 6% in Europe, 4% in North America and flat performance in South America and Asia, which includes a decline of 9% in China.

For the 2019 year-to-date period, Aptiv reported net income of US$514m compared to US$598m.