TI Fluid Systems PLC Post-Close Trading Statement (9129A)
27 Enero 2020 - 01:00AM
UK Regulatory
TIDMTIFS
RNS Number : 9129A
TI Fluid Systems PLC
27 January 2020
27 January 2020
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 2019, ahead of publishing Full Year 2019 Results on 17
March 2020.
Group Results
We are pleased to announce that we anticipate the Group's
results for the year ended 31 December 2019 to be in line with our
expectations outlined in our H1 2019 Results issued on 8 August
2019.
The Group is expected to report revenue of approximately EUR3.4
billion for the year ended 31 December 2019. On a constant currency
basis, we expect our 2019 revenue performance to exceed global
light vehicle production in excess of 2%.*
As anticipated, 2019 Adjusted EBIT margin is likely to be
broadly in line with H1 2019.
2019 Adjusted Free Cash Flow is anticipated to be very strong
and exceed our expectations.
Outlook
We remain confident in the Group's ability to outperform global
light vehicle production on a constant currency basis, maintain
high margins and generate strong cash flow. We will provide our
2020 outlook with our Full Year 2019 Results.
Enquiries
TI Fluid Systems plc
David Royce
Investor Relations
Tel: +1 (248) 376 8624
FTI Consulting
Richard Mountain
Nick Hasell
Tel: +44 (0) 20 3727 1340
* Source: IHS Markit, January 2020 and Company estimates
Cautionary Statement
This announcement is based on unaudited provisional results for
the year ended 31 December 2019 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 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.
END
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