TI Fluid Systems PLC — Earnings Release 2018

Jan 28, 2019

National Storage Mechanism | Additional information

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RNS Number : 2010O

TI Fluid Systems PLC

28 January 2019

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.

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.

Enquiries

TI Fluid Systems plc

Alpna Amar

Investor Relations

Tel: +44 (0) 1865 871824

FTI Consulting

Richard Mountain

Nick Hasell

Tel: +44 (0) 20 3727 1340

* Source: IHS Markit, January 2019 and Company estimates  

Cautionary Statement

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.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU No 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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