Adient releases fourth quarter results

Worldwide
Published:  11 November, 2021
Credit: Adient

The automotive seating and interior Tier-1 has released its fourth quarter 2021 results, with EBITDA of US$118 million, down from US$169 million in the previous year.

The company reported GAAP net income of US$960 million for the period, primarily driven by completed transactions from its joint venture with Yanfeng Automotive Trim Systems in China.

Adient noted that a turbulent production environment (driven by semiconductor supply chain disruptions) and rising commodity prices continue to have a significant impact on its company's near-term results and are expected to affect financial results into the 2022 financial year.