Delphi reports fourth quarter and full year 2013 financial results

Delphi Automotive PLC (NYSE: DLPH), a leading global vehicle components manufacturer, today reported fourth quarter U.S. GAAP earnings of $0.97 per diluted share. Excluding special items, earnings increased 24% to $1.12 per diluted share.

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04/02/2014 |

In 2013, we were able to deliver exceptional value to both our global customers and our shareholders. Our strong performance provides significant momentum as we enter 2014

Rodney O'Neal, chief executive officer and president

Fourth Quarter Highlights include:

Revenue of $4.2 billion, up 11%. This reflects growth of 14% in Asia, 9% in North America and 7% in Europe, partially offset by declines of 6% in South America.
U.S. GAAP diluted earnings per share of $0.97, up 126%
Excluding special items, earnings of $1.12 per diluted share, up 24%
Adjusted Operating Income of $472 million, up 33%
Adjusted Operating Income margin of 11.3%, up 190 basis points
Adjusted EBITDA of $611 million, up 26%. The increase in Adjusted EBITDA reflects the continued strong performance and growth of our businesses in Asia and North America, as well as the benefits of our on-going European restructuring programs initiated in late 2012.
Adjusted EBITDA margin of 14.6%, up 170 basis points
Returned $147 million to shareholders through share repurchases and dividends.

Full Year 2013 Highlights include:

Revenue of $16.5 billion, up 6%. This reflects growth of 11% in Asia, 5% in North America and 2% in South America, partially offset by a 6% decline in Europe.
U.S. GAAP diluted earnings per share of $3.89, up 17%
Excluding special items, earnings of $4.40 per diluted share, up 15%
Adjusted Operating Income of $1,844 million, up 10%
Adjusted Operating Income margin of 11.2%, up 40 basis points
Adjusted EBITDA of $2,384 million, up 11%. The increase in Adjusted EBITDA reflects the strong performance of our businesses in Asia and North America and the increased earnings from the acquisition of MVL, partially offset by sales declines in Europe.
Adjusted EBITDA margin of 14.5%, up 70 basis points
Generated $1.8 billion of cash from operations, up 18%
Returned $668 million to shareholders through share repurchases and dividends.

“Delphi's fourth quarter financial results demonstrate the consistently high level of execution by Delphi's team," said Rodney O'Neal, chief executive officer and president. "In 2013, we were able to deliver exceptional value to both our global customers and our shareholders. Our strong performance provides significant momentum as we enter 2014."

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