28 January 2019
TI Fluid Systems plc
Post-Close Trading Statement
TI Fluid Systems plc, a leading global manufacturer of highly engineered automotive fluid storage, carrying and delivery systems for light vehicles issues a trading statement for the year ended 31 December 2018, ahead of publishing full year results on 20 March 2019.
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.
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.
TI Fluid Systems plc
Tel: +44 (0) 1865 871824
Tel: +44 (0) 20 3727 1340
* Source: IHS Markit, January 2019 and Company estimates
This announcement is based on unaudited provisional results for the year ended 31 December 2018 and contains certain forward-looking statements with respect to the financial condition, results of operations and business of TI Fluid Systems plc (the "Company"). The words "believe", "expect", "anticipate", "intend", "estimate", "forecast", "project", "will", "may", "should" and similar expressions identify forward-looking statements. Others can be identified from the context in which they are made. By their nature, forward-looking statements involve risks and uncertainties, and such forward-looking statements are made only as of the date of this announcement. Accordingly, no assurance can be given that the forward-looking statements will prove to be accurate and you are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty therein. Past performance of the Company cannot be relied on as a guide to future performance. Nothing in this announcement should be construed as a profit forecast.
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