Financial Report January - March 2020
Financial Summary - Q1'20 · Underlying financial results better than expected, due to our Market Adjustment Initiatives (MAI) · Net Sales $362 million · Net Sales decline 27% including Organic Sales1 decline 15%, 9pp better than the global LVP · Active Safety Net Sales decline 15% including Organic Sales decline of 13% · Operating cash flow $(9) million Outlook - FY'20 · Withdraw previous Organic Sales FY'20 indication, however expect to outperform the global LVP primarily driven by new program launches · Currency translation impact is expected to be ~(2)% ·