Q4 2024 Visteon Corp Earnings Call Transcript
Key Points
- Visteon Corp (VC) delivered strong financial performance in 2024 with robust sales of $3.87 billion, record adjusted EBITDA of $474 million, and record adjusted free cash flow of $300 million.
- The company secured $6.1 billion in new business wins in 2024, driven by strong demand for large displays, SmartCore, and digital cluster products.
- Visteon outperformed the market in the Americas by double digits and in Europe by mid-single digits, driven by digital cluster and electrification product launches.
- The company achieved significant progress in diversifying its customer base, with notable wins from OEMs in Japan, Korea, and India, including Toyota and Maruti Suzuki.
- Visteon introduced innovative products like the high-performance SmartCore HPC and onboard charger and DC-DC converter, expanding its product portfolio into fast-growing market segments.
- Visteon faces headwinds in China, with sales underperformance due to market share shifts towards domestic OEMs and challenges faced by global OEMs.
- The company anticipates a mid-single-digit decline in customer vehicle production in 2025, impacting sales growth.
- Visteon expects electric vehicle sales in the US to remain flat in 2025 due to tariffs and incentive uncertainties, affecting BMS sales.
- The company experienced a lower level of customer quoting activity in 2024, particularly in Europe and North America, impacting new business wins.
- Visteon's sales outlook for 2025 is flat year-over-year, with headwinds from lower customer vehicle production, recoveries, and foreign exchange.
Good morning. I'm Ryan Wentling, Vice President of Investor Relations and Treasurer. Welcome to our earnings call for the fourth quarter and full year 2024. (Operator Instructions)
Before we begin this morning's call, I'd like to remind you this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these statements. Please refer to the page entitled Forward-Looking Information for additional details. Presentation materials for today's call were posted on the Investors section of Visteon's website this morning. Please visit investors.visteon.com to download the material if you have not already done so.
Joining us today are Sachin Lawande, President and Chief Executive
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