Slide 1: First Quarter 2022 Earnings Call
May 5, 2022 APTIV First Quarter 2022 Earnings Call
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation, as well as other statements made by Aptiv PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events, certain investments and acquisitions and financial performance, includi
Slide 3: First Quarter Highlights
First Quarter Highlights STRONG EXECUTION DESPITE ONGOING SUPPLY CHAIN DISRUPTIONS REVENUE $4.2B STRONG PRODUCT LINE 1Q up 4% +11% GoM REVENUE GROWTH, DESPITE SUPPLY CHAIN DISRUPTIONS CONTINUED GROWTH OVER EBITDA MARKET BENEFITING FROM SAFE, STRATEGIC INVESTMENTS $478M GREEN AND CONNECTED TRENDS DRI
Slide 4: Strong Revenue Growth
Strong Revenue Growth CONTINUED VALIDATION OF INDUSTRY-LEADING PORTFOLIO OF ADVANCED TECHNOLOGIES STRONG SEGMENT PERFORMANCE… …DRIVEN BY HIGH GROWTH PRODUCT LINES ADVANCED SAFETY & USER EXPERIENCE ACTIVE SAFETY USER EXPERIENCE +9% +10% Adj. Growth1 Adj. Growth1 CONTINUED ROBUST GROWTH IN ACTIVE SA
Slide 5: Solid Execution in a Challenging Environment
Solid Execution in a Challenging Environment PROACTIVELY MANAGING THROUGH SUPPLY CHAIN DISRUPTIONS ACTIONS TAKEN MACRO FACTORS STRUCTURAL COST ACTIONS IMPLEMENTED WHILE CONTINUING TO CONSUMER DEMAND REMAINS STRONG INVEST IN GROWTH INITIATIVES ONGOING SUPPLY CHAIN DISRUPTIONS REENGINEERING PRODUCTS T
Slide 6: Winning Across the Portfolio
Winning Across the Portfolio NEW BUSINESS AWARDS DRIVEN BY PORTFOLIO OF RELEVANT TECHNOLOGIES BOOKINGS Lifetime gross program revenues, $ Billions ADVANCED TECHNOLOGIES ACROSS THE BRAIN AND NERVOUS SYSTEM PROVIDING END-TO-END SYSTEM SOLUTIONS FY 2020 $7.5 FY 2021 $18B $24B $7.0 ADVANCED SAFETY APTIV
Slide 7: Advanced Safety & User Experience
Advanced Safety & User Experience INDUSTRY-LEADING CAPABILITIES IN CENTRALIZED COMPUTE, PERCEPTION SYSTEMS AND SOFTWARE 1Q 2022 HIGHLIGHTS 1Q 2022 KEY AWARDS • Growth Over Market: 14% • Active Safety launches and ramp-ups drive strong GoM • Award on a new vehicle architecture with German OEM PRODUCT
Slide 8: Signal & Power Solutions
Signal & Power Solutions EXPANDING LEADERSHIP POSITION IN VEHICLE ARCHITECTURE SOLUTIONS 1Q 2022 KEY AWARDS 1Q 2022 HIGHLIGHTS • Growth Over Market: 9% VEHICLE ARCHITECTURE SOLUTIONS GLOBAL • Continued growth with emerging EV platforms and OEMs FOR GLOBAL EV OEM EV OEM • High Voltage Electrification
Slide 9: Executing on Our Strategy
Executing on Our Strategy STRONG AND CONSISTENT EXECUTION DESPITE MARKET DISRUPTIONS INCREASING THE FLEXIBILITY …RESULTING IN OF OUR OPERATING MODEL… SUSTAINABLE VALUE CREATION LEADING PORTFOLIO OF ACCELERATED EV/AV OPPORTUNITIES ADVANCED TECHNOLOGIES ON THE PATH TO THE SOFTWARE- DEFINED VEHICLE • S
Slide 10: 1Q 2022 vs. 1Q 2021
1Q 2022 vs. 1Q 2021 CONTINUED GROWTH, CHALLENGING OPERATING ENVIRONMENT ($ Millions, except per share amounts) 1Q 2022 Fav / (Unfav) COMMENTS REPORTED REVENUE $155 • Global vehicle production down 7%3 $4,178 Adjusted Growth %1 | Growth Over Market 4% | 11% • AS&UX 14% GoM, S&PS 9% GoM EBITDA2 $478 (
Slide 11: 1Q 2022 Revenue
1Q 2022 Revenue STRONG TOP LINE OUTPERFORMANCE ACROSS REGIONS REVENUE REGIONAL GROWTH $ Millions Adjusted Growth1 | Growth Over Market (GoM) 4% Adj 1 11% GoM N. AMERICA EUROPE CHINA2 $161 $10 ($16) 7% Adj (5%) Adj 14% Adj 8% GoM 13% GoM 14% GoM $4,178 $4,023 1Q 2021 Volume FX / Comm Price 1Q 2022 1.
Slide 12: 1Q 2022 Segment Recap
1Q 2022 Segment Recap STRONG REVENUE GROWTH, MATERIAL INFLATION IMPACTING MARGINS ADVANCED SAFETY & USER EXPERIENCE SIGNAL & POWER SOLUTIONS $ Millions $ Millions REVENUE EBITDA2 OP INCOME2 REVENUE EBITDA2 OP INCOME2 2%1 7%1 (19%) (24%) (46%) (76%) $1,082 $3,022 $3,106 $520 $1,011 $406 $110 $419 $68
Slide 13: 2022 Full Year Outlook
2022 Full Year Outlook FULL YEAR OUTLOOK REMAINS UNCHANGED; ASSUMES Q2 EASING OF CHINA LOCKDOWNS AND MINIMAL FUTURE EUROPEAN DISRUPTIONS ($ Millions, except per share amounts) FY 2022 FY 2021 FY 2022 COMMENTS REPORTED REVENUE $17,750 – 18,150 $15,618 • Vehicle production up ~6%4 with some regional s
Slide 14: 2022 Outlook vs 2019 Investor Day Expectations
2022 Outlook vs 2019 Investor Day Expectations DISCIPLINED REVENUE GROWTH AND PERFORMANCE OFFSET BY MACRO CHANGES KEY CONSIDERATIONS $0.6 $0.4 ($2.3) $1.7 REVENUE • 2022 results in-line with 2019 long-term framework ex. COVID, supply chain and inflation costs $ Billions $17.5 $15.2 $17.95 • Growth-o
Slide 15: Summary
Summary EXECUTING IN A CHALLENGING ENVIRONMENT CONTINUED COMMERCIAL MOMENTUM Leading portfolio of advanced technologies solving our customers’ toughest challenges EXECUTING THROUGH DISRUPTIONS Strong first quarter despite global disruptions & inflationary pressures IMPLEMENTING COST ACTIONS Optimizi
Slide 16: Appendix
» APPENDIX
Slide 17: YoY Revenue Growth Metrics
YoY Revenue Growth Metrics 1Q 2022 Reported net sales % change 4% Less: foreign currency exchange and commodities -% Adjusted revenue growth 4% 1Q 2022 Reported Revenue Growth 4% Signal And Power Solutions Reported Revenue Growth 3% Advanced Safety And User Experience Reported Revenue Growth 7% Adju
Slide 18: YoY Revenue And Adjusted OI By Segment Walks
YoY Revenue And Adjusted OI By Segment Walks 1Q 2022 ($ millions) Revenue OI Adj 1Q 2021: Signal And Power Solutions 3,022 406 Volume, net of contractual price reductions 70 2 FX and commodities 14 (50) Operational performance - (78) Other - 28 1Q 2022: Signal And Power Solutions 3,106 308 1Q 2021:
Slide 19: Non-US GAAP Financial Metrics: Adjusted OI
Non-US GAAP Financial Metrics: Adjusted OI ($ millions) 1Q 2022 1Q 2021 Net income attributable to Aptiv 89 295 Interest expense 43 40 Other expense (income), net 39 (1) Income tax expense 21 48 Equity loss, net of tax 63 42 Net income attributable to noncontrolling interest 1 5 Operating income 256
Slide 20: Non-US GAAP Financial Metrics: Adjusted EBITDA
Non-US GAAP Financial Metrics: Adjusted EBITDA ($ millions) 1Q 2022 1Q 2021 Net income attributable to Aptiv 89 295 Interest expense 43 40 Income tax expense 21 48 Net income attributable to noncontrolling interest 1 5 Depreciation and amortization 191 193 EBITDA 345 581 Other expense (income), net
Slide 21: Non-US GAAP Financial Metrics: Adj NI Per Share
Non-US GAAP Financial Metrics: Adj NI Per Share ($ millions, except per share amounts) 1Q 2022 1Q 2021 Net income attributable to ordinary shareholders 73 279 Mandatory convertible preferred share dividends 16 16 Net income attributable to Aptiv 89 295 Adjusting items: Amortization 37 37 Restructuri
Slide 22: Shares Outstanding
Shares Outstanding (millions) 1Q 2022 1Q 2021 Weighted average ordinary shares outstanding, basic 270.79 270.31 Dilutive shares related to RSUs 0.37 0.83 Weighted average MCPS Converted Shares - - Weighted average ordinary shares outstanding, including dilutive shares 271.16 271.14 Weighted average
Slide 23: Non-US GAAP Financial Guidance Metrics: Adjusted Operating Income
Non-US GAAP Financial Guidance Metrics: Adjusted Operating Income ($ millions) 20221 Net income attributable to Aptiv 1,024 Interest expense 133 Other expense, net 4 Income tax expense 188 Equity loss, net of tax 279 Net income attributable to noncontrolling interest 10 Operating income 1,638 Amorti
Slide 24: Non-US GAAP Financial Guidance Metrics: Adjusted EBITDA
Non-US GAAP Financial Guidance Metrics: Adjusted EBITDA ($ millions) 20221 Net income attributable to Aptiv 1,024 Interest expense 133 Income tax expense 188 Net income attributable to noncontrolling interest 10 Depreciation and amortization 815 EBITDA 2,170 Other expense, net 4 Equity loss, net of
Slide 25: Non-US GAAP Financial Guidance Metrics: Adj NI Per Share
Non-US GAAP Financial Guidance Metrics: Adj NI Per Share ($ millions, except per share amounts) 20221 Net income attributable to ordinary shareholders 961 Mandatory convertible preferred share dividends 63 Net income attributable to Aptiv 1,024 Adjusting items: Amortization 150 Restructuring 85 Othe
Slide 26: Aptiv
“APTIV: