Adient’s FY 2019/20 net sales decline 23.3% y/y to USD12.7 billion

US-based automotive supplier forecasts FY 2020/21 consolidated sales in the range of USD14.6 billion to USD15 billion and adjusted EBITDA in the range of USD1 billion to USD1.1 billion

Adient has reported 23.3% year-over-year (y/y) decline in net sales to USD12.7 billion in the financial year (FY) ended 30 September 2020, the company said in a press release on 30 November. The sharp drop in net sales caused the US-based automotive supplier to record earnings before interest and taxes (EBIT) loss of USD195 million compared with EBIT income of USD229 million a year earlier. Adient concluded the FY 2019/20 with higher net loss of USD547 million compared with net loss of USD491 million in FY 2018/19.