Slides
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APTIV October 30, 2025 Third Quarter 2025 Earnings Call
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2 This presentation, as well as other statements made by Aptiv PLC (the “Company”), contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events, certain investments and acquisitions and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company’s strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: global and regional economic conditions, including conditions affecting the credit market; global inflationary pressures; uncertainties created by the conflict between Ukraine and Russia, and its impacts to the European and global economies and our operations in each country; uncertainties created by the conflicts in the Middle East and their impacts on global economies; fluctuations in interest rates and foreign currency exchange rates; the cyclical nature of global automotive sales and production; the potential disruptions in the supply of and changes in the competitive environment for raw material and other components integral to the Company’s products, including the ongoing semiconductor supply shortage; the Company’s ability to maintain contracts that are critical to its operations; potential changes to beneficial free trade laws and regulations, such as the United States-Mexico-Canada Agreement; the effects of significant increases in trade tariffs, import quotas and other trade restrictions or actions, including retaliatory responses to such actions; changes to tax laws; future significant public health crises; the ability of the Company to integrate and realize the expected benefits of recent transactions; the ability of the Company to achieve the intended benefits from, or to complete, the proposed separation of its Electrical Distribution Systems business; the ability of the Company to attract, motivate and/or retain key executives; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers; and the ability of the Company to attract and retain customers. Additional factors are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s filings with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. Aptiv disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law. Forward-Looking Statements 3Q 2025 Earnings | October 30, 2025 | Aptiv
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Third Quarter Highlights OPERATING PERFORMANCE FINANCIAL PERFORMANCE 1. Adjusted revenue growth excludes impact of foreign exchange and commodities. 2. Operating income and EPS adjusted for restructuring and other special items, including $648M of goodwill impairment in 3Q 2025. See appendix for detail and reconciliation to US GAAP. 3Q 2025 Earnings | October 30, 2025 | Aptiv3 RECORD ADJUSTED EPS2 OF $2.17 Up 19% YoY, driven by increased operating income and lower share count from repurchases RECORD ADJ. OPERATING INCOME2 OF $654M Up 10% YoY, driven by strong flow through on volume, as well as manufacturing performance RECORD REVENUE OF $5.2B Adjusted growth of 6%1 YoY OPERATING CASH FLOW OF $584M Enabling ~$250M of capital deployment in the form of share repurchases and debt repayment AGILITY AMID EVOLVING TRADE BACKDROP No impact to customers and minimal impact to Aptiv due to in- region, for-region model ENHANCING SHAREHOLDER VALUE EDS separation remains on track, creating two optimally positioned, independent companies STRONG PERFORMANCE OUTSIDE AUTOMOTIVE Double-digit revenue growth1 attributable to markets outside of Automotive, including 20%+ growth1 in Wind River LEVERAGING BEST-IN-CLASS OPERATING MODEL Customer recognition for commitment to quality and on-time delivery BOOKINGS OF $8.4B Sequential acceleration reflecting program award timing
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Lifetime gross program revenues, $ Billions $6.1 $14.2 $5.1 $6.1 $13.9 $6.1 $6.6 $7.7 $12.8 $4.3 $3.6 $10.1 $4.9 $5.4 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 KEY TAKEAWAYS • Second straight quarter of sequential bookings growth • Continued momentum in strategic product areas and with targeted customers: ‒ 30% growth in Software bookings YTD ‒ ~85% of YTD bookings in China with Local OEMs New Business Bookings ECG AS&UX EDS FY 2022 $32B FY 2023 $34B FY 2024 $31B 4 3Q 2025 Earnings | October 30, 2025 | Aptiv $8.4B FY 2025 $31B+ TARGET
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5 Advanced Safety & User Experience ADAS AWARDS FOR NA OEMS ENABLING INCREASED SAFETY AND HANDS-FREE DRIVING WIND RIVER AWARDS IN TELECOM AND A&D; GROWING NUMBER OF EDGE AI PARTNERSHIPS FIRST LAUNCH OF HIGH-PERFORMANCE COCKPIT CONTROLLER ON ENTRY-LEVEL VEHICLE MODEL CONQUEST AWARD FOR NEXT-GEN INTERIOR SENSING SOLUTION FOR GLOBAL KOREAN OEM LAUNCH OF APTIV GEN 8 RADAR PRODUCTS 3Q 2025 Earnings | October 30, 2025 | Aptiv AWARDS ACROSS PORTFOLIO WITH LEADING LOCAL CHINA OEMS INCLUDING GEELY, CHERY, CHANGAN HIGH - PERFORMANCE COCKPIT CONTROLLER LAUNCH EDGE AI PARTNERSHIPS GEN 8 RADAR FAMILY PRODUCT LAUNCH FULL - STACK CABIN MONITORING SYSTEM AWARD
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6 Engineered Components Group CROSS PLATFORM AWARDS FOR A GLOBAL EUROPEAN OEM INCLUDING HV BUSBARS AND CABLE MGMT HIGH-SPEED CONNECTOR ASSEMBLY AWARD FOR DATA CENTER APPLICATIONS LAUNCHES OF HIGH VOLTAGE INTERCONNECTS ACROSS MULTIPLE ASIA-PACIFIC OEMS HIGH-SPEED CONNECTOR ASSEMBLY AWARDS WITH 10+ GLOBAL OEMS, INCLUDING BYD FOR EXPORT MARKETS 3Q 2025 Earnings | October 30, 2025 | Aptiv SPECIALIZED INTERCONNECT AWARD FOR BATTERY ENERGY DEVICES INTERCONNECT AND HIGH-SPEED CONNECTOR ASSEMBLY AWARDS FOR A&D AND MASS TRANSIT APPLICATIONS CHARGING BUSBAR ASSEMBLY AWARD INTERCONNECT AWARD HIGH - VOLTAGE CONNECTORS LAUNCH HIGH - SPEED CONNECTOR ASSEMBLY AWARDS
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7 Electrical Distribution Systems LAUNCH OF FIRST ENERGY STORAGE PROGRAM MAJOR AWARD FOR A GLOBAL COMMERCIAL VEHICLE OEM’S HEAVY-DUTY TRUCK MODELS MULTIPLE LOW VOLTAGE LAUNCHES WITH LOCAL CHINA OEMS FOR EXPORT MARKETS LOW AND HIGH VOLTAGE CONTENT AWARDS FOR AN ELECTRIC AUTONOMOUS TRANSIT VAN MID-CYCLE LAUNCH FOR A N.A. OEM SUV PLATFORM 3Q 2025 Earnings | October 30, 2025 | Aptiv >$1B CHINA BOOKINGS, INCLUDING WITH LEADING CHINA LOCAL OEMs CHERY, CHANGAN AND XIAOMI 2026 MODEL YEAR LARGE SUV LAUNCH FIRST ENERGY STORAGE LAUNCH EXTENDED RANGE SUV AWARD LV LAUNCH
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Current Outlook 8 2025 2026 3Q 2025 Earnings | October 30, 2025 | Aptiv RAISING FULL-YEAR GUIDANCE Reflecting stronger third quarter performance UPSIDE FROM CAPITAL DEPLOYMENT Continued value creation from proactive capital deployment initiatives RESILIENT OPERATING MODEL In-region, for-region manufacturing and supply chain mitigating impact from evolving trade policy 2026 GROWTH TO ACCELERATE All indications point to improvement in revenue growth versus 2025 UNDERLYING BACKDROP IS DYNAMIC Including evolving global trade policies and supply chain dynamics across customers EDS SEPARATION TO UNLOCK VALUE Separation on track, enabling both companies to pursue strategic objectives, and optimize capital allocation
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9 $85 $61 30 bps $73 30 bps $358 3Q 2025 vs. 3Q 2024 EBITDA2 EBITDA Margin OPERATING INCOME2 Operating Margin OPERATING CASH FLOW REPORTED REVENUE $851 16.3% $654 12.5% $584 $5,212 3Q 2025 Fav / (Unfav) $0.34EARNINGS PER SHARE2 ($ Millions, except per share amounts) • Adjusted growth1 of +6%; Auto +4%; Non-Auto +14% • ECG +6%1, EDS +11%1, AS&UX +0.5%1 COMMENTS • EBITDA up 9% YoY • Solid flow through on revenue and strong manufacturing performance • Unfavorable FX/Commodities of ($56M) or (130)bps • Higher YoY earnings • Favorable net working capital • Higher YoY operating income • 12% YoY reduction in share count$2.17 3Q 2025 Earnings | October 30, 2025 | Aptiv 1. Adjusted revenue growth excludes impact of foreign exchange and commodities. 2. EBITDA, operating income, and EPS adjusted for restructuring and other special items, including $648M of goodwill impairment in 3Q 2025. See appendix for detail and reconciliation to US GAAP.
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REVENUE $ Millions 10 3Q 2025 Revenue REGIONAL GROWTH EUROPEN. AMERICA CHINA3 1. Revenue growth excludes impact of foreign exchange and commodities. 2. Sales growth inclusive of net price. 3. Asia Pacific adjusted revenue growth of 4%; vehicle production up 6%. 6% Adj1 Adj. Growth1 Vehicle Production (3%) 2% 14% 4% 0% 10% 3Q 2025 Earnings | October 30, 2025 | Aptiv $4,854 $5,212 $285 $73 3Q 2024 Sales Growth² FX & Commodities 3Q 2025
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ECG $1,582 $1,714 3Q 24 3Q 25 AS&UX 11 3Q 2025 Segment Recap 1. Revenue growth excludes impact of foreign exchange and commodities. 2. Adjusted for restructuring and other special items, including $648M of goodwill impairment in 3Q 2025; see appendix for detail and reconciliation to US GAAP. $ Millions, % of Sales REVENUE OP INCOME2 EDS • Strength in NA offset by weakness in China • 20%+ growth in Wind River • $21M headwind from customer settlement in 3Q 24 and unfavorable FX, partially offset by Wind River flow through REVENUE OP INCOME2 • Principally driven by double digit growth in Asia Pacific, including China • Favorable volume flow through and performance partially offset by unfavorable FX and commodities REVENUE OP INCOME2 • Strong growth in North America • Customer settlement, favorable volume flow through and performance, offsetting unfavorable FX and commodities $ Millions, % of Sales $ Millions, % of Sales $1,427 $1,442 3Q 24 3Q 25 $196 13.7% $164 11.4% 3Q 24 3Q 25 $272 17.2% $298 17.4% 3Q 24 3Q 25 $2,035 $2,286 3Q 24 3Q 25 $125 6.1% $192 8.4% 3Q 24 3Q 25 0%1 (16%) 10% 11%1 54% 3Q 2025 Earnings | October 30, 2025 | Aptiv 6%1
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OPERATING CASH FLOW ($ Millions) Strong Cash Flow Generation and Proactive Capital Deployment PROACTIVE CAPITAL DEPLOYMENT • Deployed $96M toward share repurchases in 3Q, retiring 1.2M shares • Utilized $145M in cash to retire $148M face value of debt during the quarter • Since 3Q 2024 with ASR, repurchased $3.2B of shares • Retired $1.2B of debt on an LTM basis • Will continue to opportunistically repurchase shares and debt through year-end 12 1. Measured using LTM Adjusted EBITDA. 3Q 2025 Earnings | October 30, 2025 | Aptiv $499 $584 3Q 24 3Q 25 ATTRACTIVE LEVERAGE AND LIQUIDITY POSITION • Ended the quarter with $1.6 billion in cash, equating to $4.2 billion in total liquidity • Gross leverage of 2.4X1; • Net leverage of 1.8X1 • ~17.4 YEARS weighted avg debt maturity $2,010 $2,427 LTM 2024 LTM 2025
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2025 Growth Outlook 1. Adjusted Revenue Growth at Midpoint of Guidance; excludes impact of foreign exchange and commodities. 2. Represents global vehicle production weighted to the geographic regions in which the Company generates its revenue. GLOBAL NORTH AMERICA EUROPE CHINA FY COMMENTARY • Vehicle production 0%2 at 95M units • FY Copper: 4.60 1% 4Q 2025 Aptiv Revenue Growth1 2% FY 2025 (4%) 4Q 2025 Aptiv Revenue Growth1 (3%) FY 2025 FY COMMENTARY • Vehicle production +7% at 33M units • FY CNY: 7.16 (4%) 4Q 2025 Aptiv Revenue Growth1 (1%) FY 2025 FY COMMENTARY • Vehicle production (3%) at 16M units • FY MXN: 19.40 7% 4Q 2025 Aptiv Revenue Growth1 5% FY 2025 FY COMMENTARY • Vehicle production (2%) at 17M units • FY EUR: 1.13 13 3Q 2025 Earnings | October 30, 2025 | Aptiv
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14 2025 Financial Guidance EBITDA2 EBITDA Margin OPERATING INCOME2 Operating Margin OPERATING CASH FLOW REPORTED REVENUE Adj. Revenue Growth %1 EARNINGS PER SHARE2 EPS, excluding Motional equity loss Note: The Company’s fourth quarter and full year 2025 financial guidance reflects the potential impacts of recently imposed tariffs by the U.S. government, but does not reflect the impacts of the potential for additional tariffs, trade barriers or retaliatory actions by the U.S. or other countries. 1. Adjusted Revenue Growth at Midpoint of Guidance; excludes impact of foreign exchange and commodities. 2. EBITDA, operating income, and EPS adjusted for restructuring and other special items, including $648M of goodwill impairment in 3Q 2025. See appendix for detail and reconciliation to US GAAP. ($ Millions, except per share amounts) $740 – $840 15.1% – 16.1% $545 – $645 11.1% – 12.4% $4,905 – $5,205 1% 4Q 2025 $1.60 – $1.90 $1.65 – $1.95 3Q 2025 Earnings | October 30, 2025 | Aptiv $3,170 – $3,270 15.7% – 16.0% $2,400 – $2,500 11.9% – 12.2% ~$2,000 $20,150 – $20,450 2% FY 2025 $7.55 – $7.85 $7.75 – $8.05
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Outperforming in a Dynamic Environment 15 RECORD Q3 REVENUE, OPERATING INCOME AND EPS, DRIVEN BY STRONG OPERATING EXECUTION AND PROACTIVE CAPITAL ALLOCATION INITIATIVES REVENUE GROWTH EXPECTED TO ACCELERATE INTO 2026 COMPREHENSIVE PORTFOLIO POSITIONED TO BENEFIT FROM AUTOMATION, ELECTRIFICATION AND DIGITALIZATION TRENDS ACROSS MULTIPLE END MARKETS RELENTLESS FOCUS ON POSITIONING APTIV FOR LONG-TERM SUCCESS AND INCREASING SHAREHOLDER VALUE, WITH EDS SPIN ON TRACK 3Q 2025 Earnings | October 30, 2025 | Aptiv
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16 3Q 2025 Earnings | October 30, 2025 | Aptiv
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YoY Revenue Growth Metrics 17 3Q 2025 YTD 2025 Reported net sales % change 7% 3% Less: foreign currency exchange and commodities 1% 1% Adjusted revenue growth 6% 2% 3Q 2025 YTD 2025 Reported Revenue Growth 7% 3% Electrical Distribution Systems Reported Revenue Growth 12% 5% Engineered Components Group Reported Revenue Growth 8% 4% Advanced Safety And User Experience Reported Revenue Growth 1% (1%) Adjusted Revenue Growth 6% 2% Electrical Distribution Systems Adjusted Revenue Growth (a) 11% 4% Engineered Components Group Adjusted Revenue Growth (a) 6% 4% Advanced Safety And User Experience Adjusted Revenue Growth (a) 0% (1%) a) Adjusted revenue growth excludes impact of foreign exchange and commodities. 3Q 2025 Earnings | October 30, 2025 | Aptiv
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Non-US GAAP Financial Metrics: Adjusted OI 18 3Q 2025 Earnings | October 30, 2025 | Aptiv ($ millions) 3Q 2025 3Q 2024 YTD 2025 YTD 2024 Net (loss) income attributable to Aptiv (355) 363 27 1,519 Interest expense 90 101 274 230 Other income, net (22) (5) (34) (30) Net gain on equity method transactions - - (46) (641) Income tax expense 103 32 504 159 Equity loss, net of tax 6 7 27 110 Net income attributable to noncontrolling interest 3 7 9 18 Net loss attributable to redeemable noncontrolling interest - (2) (2) (2) Operating (loss) income (175) 503 759 1,363 Amortization 52 53 156 159 Restructuring 60 16 149 125 Separation costs 53 - 100 - Other acquisition and portfolio project costs 12 13 25 66 Asset impairments - 3 9 17 Compensation expense related to acquisitions 4 5 13 13 Goodwill impairment 648 - 648 - Gain on asset sale - - (5) - Adjusted operating income 654 593 1,854 1,743
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Non-US GAAP Financial Metrics: Adjusted EBITDA 19 3Q 2025 Earnings | October 30, 2025 | Aptiv ($ millions) 3Q 2025 3Q 2024 YTD 2025 YTD 2024 Net (loss) income attributable to Aptiv (355) 363 27 1,519 Interest expense 90 101 274 230 Income tax expense 103 32 504 159 Net income attributable to noncontrolling interest 3 7 9 18 Net loss attributable to redeemable noncontrolling interest - (2) (2) (2) Depreciation and amortization 249 241 741 719 EBITDA 90 742 1,553 2,643 Other income, net (22) (5) (34) (30) Net gain on equity method transactions - - (46) (641) Equity loss, net of tax 6 7 27 110 Restructuring 60 16 149 125 Separation costs 53 - 100 - Other acquisition and portfolio project costs 12 13 25 66 Goodwill impairment 648 - 648 - Compensation expense related to acquisitions 4 5 13 13 Gain on asset sale - - (5) - Adjusted EBITDA 851 778 2,430 2,286
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Non-US GAAP Financial Metrics: Adj. NI Per Share 20 3Q 2025 Earnings | October 30, 2025 | Aptiv ($ millions, except per share amounts) 3Q 2025 3Q 2024 YTD 2025 YTD 2024 Net (loss) income attributable to Aptiv (355) 363 27 1,519 Adjusting items: Amortization 52 53 156 159 Restructuring 60 16 149 125 Separation costs 53 - 100 - Other acquisition and portfolio project costs 12 13 25 66 Asset impairments - 3 9 17 Goodwill impairment 648 - 648 - Compensation expense related to acquisitions 4 5 13 13 Gain on asset sale - - (5) - (Gain) loss on extinguishment of debt (3) 12 - 12 (Gain) loss on change in fair value of publicly traded equity securities (1) 5 (2) 3 Net gain on equity method transactions - - (46) (641) Tax impact of intercompany transfers of intellectual property and other related transactions (a) - - 294 - Tax impact of adjusting items (b) 1 (21) (44) (78) Adjusted net income attributable to Aptiv 471 449 1,324 1,195 Weighted average number of diluted shares outstanding 217.41 245.78 222.30 263.77 Diluted net (loss) income per share attributable to Aptiv (1.63) 1.48 0.12 5.76 Adjusted net income per share 2.17 1.83 5.96 4.53 Less: Impact of Motional equity loss 0.04 0.05 0.14 0.45 Pro forma - Adjusted net income per share 2.21 1.88 6.10 4.98 (a) As a result of the Pillar Two OECD Administrative Guidance released in the first quarter of 2025, the Company no longer expects to obtain significant benefits from the tax incentive granted to its Swiss subsidiary in 2023. Accordingly, the Company recognized an increase to valuation allowances of $294 million to reduce the related deferred tax asset during the nine months ended September 30, 2025. (b) Represents the income tax impacts of the adjustments made for amortization, restructuring and other special items by calculating the income tax impact of these items using the appropriate tax rate for the jurisdiction where the charges were incurred.
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Non-US GAAP Financial Guidance Metrics: Adjusted Operating Income 21 3Q 2025 Earnings | October 30, 2025 | Aptiv ($ millions) 4Q 20251 20251 Net income attributable to Aptiv 240 265 Interest expense 85 360 Other income, net (10) (45) Net gain on equity method transactions - (45) Income tax expense 65 570 Equity loss, net of tax 15 40 Net income attributable to noncontrolling interest (a) 5 10 Operating income 400 1,155 Amortization 50 210 Restructuring 50 200 Other acquisition and portfolio project costs, including costs related to the planned spin-off of the EDS business 90 210 Asset impairments - 10 Goodwill impairment - 650 Compensation expense related to acquisitions 5 20 Gain on asset sale - (5) Adjusted operating income 595 2,450 1. Prepared at the estimated mid-point of the Company's financial guidance range. (a) Includes portion attributable to redeemable noncontrolling interest.
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Non-US GAAP Financial Guidance Metrics: Adjusted EBITDA 22 3Q 2025 Earnings | October 30, 2025 | Aptiv ($ millions) 4Q 20251 20251 Net income attributable to Aptiv 240 265 Interest expense 85 360 Income tax expense 65 570 Net income attributable to noncontrolling interest (a) 5 10 Depreciation and amortization 245 990 EBITDA 640 2,195 Other income, net (10) (45) Net gain on equity method transactions - (45) Equity loss, net of tax 15 40 Restructuring 50 200 Other acquisition and portfolio project costs, including costs related to the planned spin-off of the EDS business 90 210 Compensation expense related to acquisitions 5 20 Goodwill impairment - 650 Gain on asset sale - (5) Adjusted EBITDA 790 3,220 1. Prepared at the estimated mid-point of the Company's financial guidance range. (a) Includes portion attributable to redeemable noncontrolling interest.
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Non-US GAAP Financial Guidance Metrics: Adjusted NI Per Share 23 3Q 2025 Earnings | October 30, 2025 | Aptiv ($ millions, except per share amounts) 4Q 20251 20251 Net income attributable to Aptiv 240 265 Adjusting items: Amortization 50 210 Restructuring 50 200 Other acquisition and portfolio project costs, including costs related to the planned spin-off of the EDS business 90 210 Asset impairments - 10 Goodwill impairment - 650 Compensation expense related to acquisitions 5 20 Net gain on equity method transactions - (45) Gain on asset sale - (5) Tax impact of adjusting items (55) 195 Adjusted net income attributable to Aptiv 380 1,710 Weighted average number of diluted shares outstanding 218.00 222.00 Diluted net income per share attributable to Aptiv 1.10 1.20 Adjusted net income per share 1.75 7.70 Less: Impact of Motional equity loss 0.05 0.20 Pro forma - Adjusted net income per share 1.80 7.90 1. Prepared at the estimated mid-point of the Company's financial guidance range.