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Garrett ADVANCING MOTION Garrett Motion Reports Second Quarter 2021 Financial Results Exhibit 99.1 Second Quarter 2021 Highlights Reported net sales totaled $ 935 million , up 82.6 % at constant currency * Net income available to common shareholders totaled $ 385 million ; Adjusted net income * was $ 90 million Adjusted EBITDA * increased to $ 168 million ; Adjusted EBITDA margin * improved to 18.0 % Net cash used for operating activities totaled ( $ 423 ) million Adjusted free cash flow * totaled $ 121 million ; Adjusted free cash flow conversion rate * was 134 % Completed financial restructuring and emerged from Chapter 11 on April 30 , 2021 Commenced trading common shares on Nasdaq exchange under ticker " GTX " effective May 3 , 2021 First Half 2021 Highlights Net sales totaled $ 1,932 million , up 47.8 % at constant currency * Net income available to common shareholders totaled $ 280 million ; Adjusted net income * was $ 188 million Adjusted EBITDA * increased to $ 344 million ; Adjusted EBITDA margin * improved to 17.8 % Net cash used for operating activities totaled ( $ 391 ) million Adjusted free cash flow * totaled $ 258 million ; Adjusted free cash flow conversion rate * was 137 % ROLLE , Switzerland , July 29 , 2021 - Garrett Motion Inc. ( Nasdaq : GTX ) , a leading differentiated technology provider for the automotive industry , today announced its financial results for the quarter and six months ended June 30 , 2021 . $ millions ( unless otherwise noted ) Net sales Q2 2021 935 Q2 2020 477 H1 2021 H1 2020 1,932 1,222 Cost of goods sold Gross profit 742 397 1,543 1004 193 80 389 218 Gross profit % 20.6 % 16.8 % 20.1 % 17.8 % Selling , general and administrative expenses 51 47 106 104 Income before taxes 439 2 358 55 Net income ( loss ) 409 ( 9 ) 304 43 90 21 188 78 168 63 344 171 18.0 % 13.2 % 17.8 % 14.0 % ( 423 ) ( 152 ) ( 391 ) ( 95 ) 121 ( 158 ) 258 ( 100 ) Adjusted net income * Adjusted EBITDA * Adjusted EBITDA margin * Net cash used for operating activities Adjusted free cash flow * * See reconciliations to the nearest GAAP measure in pages 6-15 . " During the second quarter , Garrett outperformed global auto production by approximately 32 percentage points , demonstrating continued demand for Garrett's cutting - edge technologies , share - of - demand gains , and strong execution , " said Olivier Rabiller , Garrett President and CEO . " Our record net sales for Q2 however were affected by temporary component shortages , which slowed industry production . By drawing upon our flexible operating platform and global capabilities , we were able to mitigate the impact of the current supply - demand imbalance and capitalize on a positive sales mix to generate a robust Adjusted EBITDA margin in the quarter of 18.0 % . We believe our proven and resilient business model enables Garrett to adapt quickly to short - term market disruptions . Despite the ongoing volatility in the macro environment , we expect to produce net sales growth at constant currency for the full year 2021 between 18 % and 23 % and maintain our leading - industry margins . " On April 30th , Garrett successfully completed its financial restructuring and emerged with a significantly improved balance sheet with less debt . Our new capital structure combined with our greater operational and financial flexibility enhances our position to take advantage of both organic and inorganic growth opportunities while further investing in new , differentiated 1