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TI Fluid Systems PLC

TI Fluid Systems plc 2018 Adjusted Free Cash Flow is now anticipated to exceed expectations

TI Fluid Systems plc (LON:TIFS), a leading global manufacturer of highly engineered automotive fluid storage, carrying and delivery systems for light vehicles issued a trading statement for the year ended 31 December 2018, ahead of publishing full year results on 20 March 2019.

Group Results

We are pleased to announce that we anticipate the Group’s results for the year ended 31 December 2018 to be in line with our expectations outlined in the Q3 Trading Update issued on 8 November 2018.

The Group is expected to report revenue of approximately €3.5 billion for the year ended 31 December 2018. On a constant currency basis, we expect our 2018 revenue growth to exceed growth in global light vehicle production by approximately 3.0%.*

As anticipated, 2018 Adjusted EBIT margin is likely to be broadly in line with 2017.

2018 Adjusted Free Cash Flow is now anticipated to exceed expectations as a result of strong H2 cash generation.

Outlook

We remain confident in the Group’s ability to outperform global light vehicle production volume growth on a constant currency basis, maintain high margins and generate strong cash flow. We will provide our 2019 outlook with our full year 2018 results.