Visteon touts ‘strong’ balance sheet, capital structure versus peers

By Devika Patel

Knoxville, Tenn., Feb. 21 – Visteon Corp. management believes the company has a good balance sheet and a strong capital structure relative to others in the industry.

“Our balance sheet remains strong,” president and chief executive officer Sachin Lawande said on the company’s fourth quarter and year ended Dec. 31, 2018 earnings conference call on Thursday.

“We continue to have one of the strongest capital structures in the industry, which enables us to compete effectively in a challenging market while investing in different trading technologies and returning capital to our shareholders,” executive vice president and chief financial officer Christian A. Garcia said on the call.

Adjusted EBITDA was $330 million for the year and $74 million in fourth quarter.

Total adjusted free cash flow was $72 million for the fourth quarter and $107 million for the full year.

As of Dec. 31, 2018, Visteon had $467 million of cash. Total debt as of Dec. 31, 2018 was $405 million.

The company’s gross debt to last 12-month EBITDA at the end of the year was 1.2x.

Visteon is a Van Buren Township, Mich.-based designer and manufacturer of cockpit electronics products and connected car solutions for vehicle manufacturers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.