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TI Fluid Systems plc in line with 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 today a trading statement for the year ended 31 December 2019, ahead of publishing Full Year 2019 Results on 17 March 2020.

Group Results

We are pleased to announce that we anticipate the Group’s results for the year ended 31 December 2019 to be in line with our expectations outlined in our H1 2019 Results issued on 8 August 2019.

The Group is expected to report revenue of approximately €3.4 billion for the year ended 31 December 2019. On a constant currency basis, we expect our 2019 revenue performance to exceed global light vehicle production in excess of 2%.*

As anticipated, 2019 Adjusted EBIT margin is likely to be broadly in line with H1 2019.

2019 Adjusted Free Cash Flow is anticipated to be very strong and exceed our expectations.

Outlook

TI Fluid Systems remain confident in the Group’s ability to outperform global light vehicle production on a constant currency basis, maintain high margins and generate strong cash flow. We will provide our 2020 outlook with our Full Year 2019 Results.

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