Slide 1: First Quarter 2021 Earnings Call
May 6, 2021 APTIV First Quarter 2021 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. Such fo
Slide 3: Executing Through the Disruption
Executing Through the Disruption SUSTAINED OUTPERFORMANCE DESPITE THE CHALLENGING ENVIRONMENT 1Q 2021 FINANCIALS 1Q 2021 PRODUCTION 2Q 2021 OUTLOOK REVENUE $4.0B +5% GLOBAL VEHICLE VEHICLE PRODUCTION Up 20% | 15% GoM PRODUCTION1 LAPPING PRIOR YEAR NA AND EU SHUTDOWNS EBITDA $630M SUPPLY CHAIN CONSTR
Slide 4: Supply / Demand Imbalance Continues
Supply / Demand Imbalance Continues SUPPLY CHAIN CONSTRAINTS EXPECTED TO PERSIST THROUGHOUT MUCH OF THE REMAINDER OF 2021 FURTHER SUPPLY CHAIN RELENTLESS FOCUS ON CONSTRAINTS GLOBAL VEHICLE PRODUCTION UNITS SUPPORTING OUR CUSTOMERS Light & Commercial Vehicle Production SEVERE WEATHER AND FY 2020 FY
Slide 5: Confident in 2021 Outlook
Confident in 2021 Outlook WELL-POSITIONED FOR CONTINUED RECOVERY OUTPERFORMANCE DESPITE NEAR-TERM CHALLENGES STRONG CONSUMER BACKDROP SUSTAINS POST-PANDEMIC RECOVERY OEM PRODUCTION OUTLOOK REMAINS STRONG; FLEXIBLE AND GLOBAL VEHICLE PRODUCTION UP ~10%1 SUSTAINABLE BUSINESS MODEL MITIGATING SUPPLY CH
Slide 6: Winning Across the Portfolio
Winning Across the Portfolio ROBUST FIRST QUARTER NEW CUSTOMER AWARDS BOOKINGS Lifetime gross program revenues, $ Billions APTIV’S ADVANCED TECHNOLOGIES ACROSS THE BRAIN AND NERVOUS SYSTEM PROVIDING END-TO-END SYSTEM SOLUTIONS $8.1 $7.5 ADVANCED SAFETY APTIV’S VALUE PROPOSITION & USER EXPERIENCE ARC
Slide 7: Operating Sustainably
Operating Sustainably CLIMATE COMMITMENTS ALIGNED TO OUR CORE MISSION 2040 CARBON NEUTRAL 2025 COMPANY REDUCE CARBON Manufacture Carbon Neutral Products by 2039 EMISSIONS BY 25% 2030 Decrease Scope 1 & 2 CO2 Emissions CARBON NEUTRAL OPERATIONS Source 100% Renewable Energy Globally APTIV’S ROAD TO CA
Slide 8: Executing On Our Strategy
Executing On Our Strategy STRONG AND CONSISTENT EXECUTION DELIVERING SUSTAINABLE VALUE CREATION BUILDING A MORE …RESULTING IN CONSISTENT SUSTAINABLE BUSINESS… SUSTAINABLE VALUE CREATION LEADING PORTFOLIO OF ACCELERATED EV/AV ADVANCED TECHNOLOGIES OPPORTUNITIES ON THE PATH TO FULL SVA™ • ~10% GoM thr
Slide 9: 1Q 2021 vs. 1Q 2020
1Q 2021 vs. 1Q 2020 ($ Millions, except per share amounts) 1Q 2021 Fav / (Unfav) COMMENTS REPORTED REVENUE $797 • Vehicle production up 5%3 $4,023 • AS&UX Up 6% GoM, S&PS Up 18% GoM Adjusted Growth %1 | Growth Over Market 20% | 15% EBITDA2 $630 $219 • ~($25M) of COVID-related operating costs EBITDA
Slide 10: 1Q 2021 Revenue
1Q 2021 Revenue STRONG GROWTH OVER MARKET IN ALL REGIONS REVENUE REGIONAL GROWTH $ Millions Adjusted Growth1 | Growth Over Market (GoM) 20% Adj 1 15% GoM N. AMERICA EUROPE CHINA2 $168 ($37) 5% Adj 11% Adj 94% Adj $666 9% GoM 12% GoM 22% GoM $4,023 $3,226 1Q 2020 Volume FX / Comm Price 1Q 2021 1. Rev
Slide 11: 1Q 2021 Segment Recap
1Q 2021 Segment Recap STRONG SEGMENT RESULTS DRIVEN BY MARKET OUTPERFORMANCE AND EXECUTION ADVANCED SAFETY & USER EXPERIENCE SIGNAL & POWER SOLUTIONS $ Millions $ Millions REVENUE EBITDA2 REVENUE EBITDA2 23%1 11%1 31% 43% $3,022 $902 $1,011 $2,330 $520 $110 $84 $364 1Q 2020 1Q 2021 1Q 2020 3 1Q 2021
Slide 12: 2021 Macro Overview
2021 Macro Overview GLOBAL VEHICLE PRODUCTION UP 10%1 • • • NORTH AMERICA 35% of Revenue EUROPE 34% of Revenue; EUR: 1.18 CHINA 22% of Revenue; CNY: 6.75 1Q 2021 | FY 2021 1Q 2021 | FY 2021 1Q 2021 | FY 2021 • Consumer-led recovery • Production recovery despite • Expecting production 5% | 26% • Favo
Slide 13: 2021 Guidance
2021 Guidance CONFIDENT IN FULL YEAR OUTLOOK ($ Millions, except per share amounts) FY 2021 GUIDANCE FY 2020 FY 2021 COMMENTS REPORTED REVENUE $15,125 – 15,725 $13,066 • Vehicle production up 10%3 Adj. Growth %1 | Growth Over Market ~16% | ~6% (9%) | 10% • AS&UX Up 13% GoM, S&PS Up 4% GoM EBITDA2 $2
Slide 14: Summary
Summary EXECUTION DRIVING RECOVERY OUTPERFORMANCE EXECUTING THROUGH THE DISRUPTION Strong first quarter performance despite global supply chain disruptions CONFIDENT IN 2021 OUTLOOK Well-positioned for continued recovery outperformance attributed to secular growth drivers DELIVERING RESILIENT VALUE
Slide 15: Appendix
» APPENDIX
Slide 16: YoY Revenue Growth Metrics
YoY Revenue Growth Metrics 1Q 2021 Reported net sales % change 25% Less: foreign currency exchange and commodities 5% Less: divestitures and other, net -% Adjusted revenue growth 20% Reflective of management estimates due to integration of businesses 1Q 2021 Reported Revenue Growth 25% Signal And Po
Slide 17: YoY Revenue And Adj. OI By Segment Walks
YoY Revenue And Adj. OI By Segment Walks 1Q 2021 ($ millions) Revenue OI Adj 1Q 2020: Signal And Power Solutions 2,330 225 Volume, net of contractual price reductions 544 201 FX and commodities 148 (14) Operational performance - 22 Other - (63) 1Q 2021: Signal And Power Solutions 3,022 371 1Q 2020:
Slide 18: Non-US GAAP Financial Metrics
Non-US GAAP Financial Metrics ($ millions) 1Q 2021 1Q 2020 Net income attributable to Aptiv 295 1,572 Interest expense 40 43 Other (income) expense, net (1) 1 Income tax expense 48 10 Equity loss (income), net of tax 42 (2) Net income (loss) attributable to noncontrolling interest 5 (5) Operating in
Slide 19: Non-US GAAP Financial Metrics
Non-US GAAP Financial Metrics ($ millions) 1Q 2021 1Q 2020 Net income attributable to Aptiv 295 1,572 Interest expense 40 43 Other (income) expense, net (1) 1 Income tax expense 48 10 Equity loss (income), net of tax 42 (2) Net income (loss) attributable to noncontrolling interest 5 (5) Operating in
Slide 20: Non-US GAAP Financial Metrics
Non-US GAAP Financial Metrics ($ millions, except per share amounts) 1Q 2021 1Q 2020 Net income attributable to ordinary shareholders 279 1,572 Mandatory convertible preferred share dividends 16 - Net income attributable to Aptiv 295 1,572 Adjusting items: Restructuring 6 28 Other acquisition and po
Slide 21: Shares Outstanding
Shares Outstanding (millions) 1Q 2021 1Q 2020 Weighted average ordinary shares outstanding, basic 270.31 255.51 Dilutive shares related to RSUs 0.83 0.32 Weighted average ordinary shares outstanding, including dilutive shares 271.14 255.83 Weighted average MCPS Converted Shares 12.37 - Adjusted weig
Slide 22: Non-US GAAP Financial Guidance Metrics
Non-US GAAP Financial Guidance Metrics ($ millions) 20211 Net income attributable to Aptiv 917 Interest expense 154 Other expense, net 29 Income tax expense 166 Equity loss, net of tax 223 Net income attributable to noncontrolling interest 15 Operating income 1,504 Restructuring 95 Other acquisition
Slide 23: Non-US GAAP Financial Guidance Metrics
Non-US GAAP Financial Guidance Metrics ($ millions) 20211 Net income attributable to Aptiv 917 Interest expense 154 Other expense, net 29 Income tax expense 166 Equity loss, net of tax 223 Net income attributable to noncontrolling interest 15 Operating income 1,504 Depreciation and amortization 785
Slide 24: Non-US GAAP Financial Guidance Metrics
Non-US GAAP Financial Guidance Metrics ($ millions, except per share amounts) 20211 Net income attributable to ordinary shareholders 854 Mandatory Convertible Preferred Share dividends 63 Net income attributable to Aptiv 917 Adjusting items: Restructuring 95 Other acquisition and portfolio project c
Slide 25: Aptiv
“APTIV: