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Visteon® Exhibit 99.1 NEWS RELEASE • Visteon Announces Third - Quarter 2021 Results Sales of $ 631 million in a challenging semiconductor supply environment Growth over market of 8 % versus top customers ' vehicle production Net income of $ 5 million Adjusted EBITDA of $ 42 million or 6.7 % of sales 13 new products launched in third quarter ; 26 launched year - to - date Company aligning sustainability commitments with science - based emissions targets Updating 2021 full - year guidance to reflect supply chain environment _ VAN BUREN TOWNSHIP , Mich . , October 28 , 2021 — Visteon Corporation ( NASDAQ : VC ) today announced third - quarter net sales of $ 631 million , representing a year - over - year decrease of 17 % excluding the impact of currency . Total industry production decreased 20 % while vehicle production at Visteon's top customers decreased 25 % in the same period , reflecting supply chain constraints and the worldwide semiconductor shortage . Despite these constraints , the company's sales performance represents 8 % 1 growth - over - market compared to the production volumes of its customers . Gross margin in the third quarter was $ 47 million , and net income attributable to Visteon was $ 5 million or $ 0.18 per diluted share . Adjusted EBITDA , a non - GAAP measure as defined below , was $ 42 million for the third quarter or 6.7 % of sales , a decrease of $ 45 million compared to the prior year . The decrease in adjusted EBITDA reflects the impact of lower vehicle volumes , supply chain and material costs increases , and the non - recurrence of temporary austerity measures implemented in 2020 , partially offset by the year - over - year savings related to 2020 structural costs reductions . Visteon launched 26 new products through the third quarter with over 20 planned for the fourth quarter . Key third quarter launches include a 10 - inch digital cluster in compact vans sold under the Citroen , Peugeot , and Opel brands , and an 8 - inch infotainment display for the Ford Maverick compact pickup truck . Additional launches include a 12 - inch digital cluster in Dongfeng's new compact sedan , and a 10 - inch infotainment system on a new compact SUV with Stellantis in South America . The company won $ 3.8 billion in new business through the first three quarters of the year , approximately 30 - percent of which were for electric vehicle programs . Key third quarter wins include a SmartCore program and a 15 - inch OLED display for infotainment . For the first nine months , cash used by operations was $ 12 million and capital expenditures were $ 54 million . Adjusted free cash flow , a non - GAAP financial measure as defined below , for the first nine months of 2021 was a use of cash of $ 37 million , compared to a source of cash of $ 37 million for the same period in 2020. The company ended the third quarter with cash of $ 401 million and debt of $ 354 million , representing a net cash position of $ 47 million . Visteon's full - year 2021 guidance is being updated to reflect the latest supply chain environment . The company now projects full - year sales in the range of $ 2.60 billion to $ 2.65 billion , adjusted EBITDA in the range of $ 165 million to $ 175 million , and adjusted free cash flow to be break - even .