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TI Fluid Systems plc. (Formerly TI Automotive Limited) Business Report FY ended Dec. 2018
Financial Overview |
(in million EUR) |
| FY ended Dec. 31, 2018 | FY ended Dec. 31, 2017 | Rate of change (%) |
Factors | |
| Net Sales | 3,472.8 | 3,490.9 | (0.5) | 1) |
| Adjusted EBITDA | 484.3 | 490.7 | (1.3) | 2) |
| Sales by Division | ||||
| Fluid Carrying Systems | 2,026.7 | 2,057.1 | (1.5) | 3) |
| Fuel Tank and Delivery Systems | 1,446.1 | 1,433.8 | 0.9 | 4) |
Factors
1) Net Sales
-The Company’s net sales in the fiscal year ended December 31, 2018, was EUR 3,472.8 million, a decrease of 0.5% over the previous year. Excluding the impact of foreign exchange, the company's sales increased 2.0%. Revenue growth was solid across all regions primarily due to new business related launches and favourable ramp impacts.
2) Adjusted EBITDA
-In the fiscal year ended December 31, 2018, the Company had an adjusted EBITDA of EUR 484.3 million, which decreased by 1.3% over the previous year. While the Company continued to see increases in raw material costs such as steel and resin, was able to offset these with customer pricing and operational efficiencies. The Group was also slightly impacted by the recent US tariffs on steel.
3) Fluid Carrying Systems
-The Company’s sales in the Fluid Carrying Systems division in the fiscal year ended December 31, 2018 decreased by 1.5% over the previous year to EUR 2,026.7 million. The slight year over year decline in margin reflected the impact of ramp ups and launch activity in our North America region which was partially offset by operational efficiencies.
4) Fuel Tank and Delivery Systems
-Sales in the Company’s Fuel Tank and Delivery Systems division increased by 0.9% over the previous year to EUR 1,446.1 million in the fiscal year ended December 31, 2018. The increase in margin reflects the benefits of higher volumes, mix and strong operational performance.
R&D Expenditure |
(in million EUR) |
| FY ended Dec. 31, 2018 | FY ended Dec. 31, 2017 | FY ended Dec. 31, 2016 | |
| Total | 76.2 | 76.6 | 73.0 |
R&D Facilities
-The Company has a network of five technical centers.
Capital Expenditure |
(in million EUR) |
| FY ended Dec. 31, 2018 | FY ended Dec. 31, 2017 | FY ended Dec. 31, 2016 | |
| Total | 115.8 | 118.8 | 109.5 |
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