Q1 2019 TI Fluid Systems PLC Corporate Sales Call Transcript

Mar 07, 2024

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May 15, 2019 / 08:00AM GMT
Operator

Good day, and welcome to the TI Fluid Systems plc first quarter trading statement call. Today's conference is being recorded. At this time, I would like to turn the conference over to Tim Knutson. Please go ahead, sir.

Timothy J. Knutson - TI Fluid Systems plc - CFO & Executive Director

Good morning, everyone. Thank you for joining us today for our first quarter 2019 trading update conference call. I'm Tim Knutson, CFO of TI Fluid Systems, and I am joined today by our CEO and President, Bill Kozyra. I'm sure you have all seen the trading update we released this morning. Before Bill and I take your questions, I wanted to highlight a few items from the statement.

The group achieved solid revenue of EUR 850 million in the first quarter. The first quarter experienced lower global vehicle production growth rates, with a particularly challenging environment in China. Global vehicle production declined by 6.7% in the first quarter, and our revenue decreased by 4.8% year-over-year at constant currency. This represents outperformance of 1.9%.

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