I years. past over everyone. by morning, good step a and X performance and Sachin, you, looking at financial start taking back to the our want Thank
delivered For we like our the year results to the XXXX, in perspective, COVID last would before what I compare crisis. to current
challenges generated several and During and this chain time, have supply yet the faced has disruptions we industry grown with impressive cash improved revenue, flow. margin significant free inflation, and
recoveries. including to Over $X years, the increased last X XXXX, almost billion sales compared
drove the controllers while growth and strong Our digital of in the position in displays leading electrification cockpit period, growth half later and period. market the generated clusters in domain in first innovations
in market period. reached headwind in since basis substantial EBITDA the We an doubled of XXXX. XXX XXXX. the changes grew despite We EBITDA than X-year the XX% from sales improvement record margin of a more points to same XXXX, over China compared a
laser-focused and revenue have from operational grow same time is to product sales, cost additional and margins to scale ability portfolio well been in improve significantly engineering our at Our of optimize result margins for business. a strong in invest efficiency. Improvements footprint our best drive approach platform the to us and testament cost the approach, an the our as allowed as while which cost continuing to
well profitability, as a our over as This sheet. the Visteon to requirements, in X-year balance the with Our into light result period. working efficient increased of an turning managing direct supported EBITDA capital cash strong on capital all by our success business was is XX% conversion average
Visteon has Visteon growth. and in delivered technology-based years, an a flow improvements continued strong a product has for and over last impressive cash foundation Overall, margins on X execution, focused innovative sales, team profitable with portfolio the
from and semiconductor X. by We and had $XXX a electrification digital of by lower new finish benefited recoveries sales strong year to our performance pricing. the our driven Turning to improved customer of launches product last year, of Compared million. very and QX lower offset with outperformance to market Page cockpit production, product lines, as annual supply result robust a sales
double-digit had towards OEMs. trend recent terms shift share weaker of and underperformed. Europe outperformance performance is from to consistent The geography, the is Americas China outperformance, single-digit high in by China market while performance with In domestic ongoing due year-over-year market the quarters
QX we domestic by with While HPC mentioned inroads OEMs these significant the win for to with new as including underexposed relative Sachin. a customers, business to market, to continue make Zeekr, remain we
$XXX was EBITDA quarter. the Adjusted for million
engineering, cost and of basis QX timing engineering the while operational in recent SG&A. strong EBITDA offset discipline we to a Net performance. Our the to due performance improved XX.X%, was point made prior favorable lower was by driven expansion acquisition continued compared Margins recoveries, including XX year. XXXX higher by to the
run our inflow significant When capital. benefits. quarter, and was was rate for the cash adjusting normalized engineering of adjusted more free record above as in our EBITDA we onetime was the our level a exiting and expectations, result flow flow million margin Adjusted XX%. a SG&A, This of strong around had working year cash a several $XXX capital from working
the adjusted returns flow delivered million we market to remain Lastly, strong organic a with in quarter, shares. we quarter and our repurchasing with our capital capital fourth shareholders. continued to to framework capital allocation continued to $XX allocations of outperformance, significant Overall, growth, shareholders balanced to return EBITDA with We margin cash M&A strong fourth committed generation.
products to and which of continue new number growth. high a win future drive will business, We launch new
to Turning XX. Page
sales, flat representing a to $X.XX sales year, of compared were impact roughly slight which prior billion, recoveries, decrease supply the chain year. For were the excludes full the year-over-year. Base
shares next-gen SmartCore our in production, to our lower our This X% Our displays, market as OEMs and headwind of FX. and lower headwind to a customers was including price offset market outperformance. a downs digital outperformance clusters, electrification drove a result by recoveries, was market. losing global market from of growth customer China also X% products, the
record improvement Adjusted compared the EBITDA $XXX for year. was million million, full prior to year a the a $XX
driven incrementals growth operational of on market another of EBITDA significant by Our performance was our and year solid improvements.
integration, to costs impact manufacturing than our the optimize customers. more increased to continue annual vertical of which and we pricing offsets As
can a rate. our with firm. R&D was was our of response in costs timing of associated as due region. normal line lower engineering be favorable despite engineering additional which with in costs a was well decrease revenue recoveries, expectations. lumpy our and challenges of engineering China which is an as the SG&A in to XXXX outsourced percentage in run the as in spending lower, to Net as below nature in of revenue acquisition X.X% mostly X.X%, were Net engineering This spending the percentage
of mostly margin the negatively $XX but by the Finally, year-over-year. the by XX.X% the charge in impacted year-over-year million Japanese million foreign recall exchange, from yen, the Brazilian by partially XXXX, approximately we was benefited XXXX, also driven in and peso. real were of $XX incurred of points nonrecurrence expansion offset basis an EBITDA XXX
year from as XXXX. some from Turning sales, to primarily several million working lower we flow only from compared of benefits quarter expectations cash working XX. fourth not in prior well $XXX adjusted to EBITDA unwind benefited onetime The capital free inflow capital. and the our an in Visteon in of above Page inflow generated This a to record reverse due which will from the higher as trade trade adjusted of was XXXX. the but was XXXX, improvement
capital we Adjusting working line invested interest of income EBITDA modest closer was cost than paid for have to were level year, XXXX, higher and higher increased period, our year, million for was from between to exceeded conversion $XXX the the Interest the taxes of would for last as prior XX% as year. million trade XX% compared the in our in taxes been have interest these for our our XX% profitability. year items, of a the would and Cash CapEx been outflow modestly conversion. on an loan. term increase targeted positive cash our with $XX
investing as in integration the product several up investing on line. display primarily including future, setting Tunisia well The in as vertical increase our including plant for initiatives, was focused our new
capital future we of deployed to share in million allocations consistent to Our shareholders. both repurchases. million sheet our cash solid $XX and $XX return capital to balance and XXXX, M&A and to generation enables In significant flow invest
important on continue these executing expect initiatives. We strategic to
Turning to Page XX.
our continues the would guidance, have currently will until to a tariffs meaningful entire moving the address like postponed early and base. across situation of Before proposed If against tariffs and Mexico implemented, The to tariff tariffs global automotive evolve topic financial supply impact these Canada to I especially reciprocal and the with last tariffs. week. March industry the
closely customers should tariffs minimize are with to identify elected. any impact actions We be on mitigation working Visteon, potential our and these
any any Our guidance or does from not these impact other tariffs. potential include
XXXX turn let's to our Now guidance.
Our $X.XX guidance range $X.XX billion. sales is to billion for
be base to our supply Excluding recoveries, roughly expected are the impact of flat chain year-over-year. sales
We the Americas as production mid-single due digits, dealer production Europe rightsized the OEMs have and ongoing down most declined the customer with weakness. in to assumed customer Visteon inventory in macroeconomic
Our is growth performance market high be and for single infotainment large anticipated to of to driven clusters mid- displays, by strong our digital products. digits, expected
Regionally, a of in as continued performance headwind the and China. the net representing underperformance of year-over-year by operating million at FX a more XX.X% Asia engineering strongest efficiencies expected performance and of Adjusted This margin offset is continued strong normalized and we partially a is to impact are the expect be $XXX to double-digit offset rest be X.X% EBITDA between expected million, in XXXX. in $XXX Europe, a spend. improvement commercial margin further midpoint. and Recoveries
a be teams the invest support continue of in as our to to high the growth. to XXXX SG&A we in to sales, high X% As and range in anticipate range be net future engineering percentage X% we
conversion between of adjusted We million is of flow. million, XX% expected which also into to Adjusted is EBITDA modest at flow be to cash XXXX. be expect $XXX $XXX adjusted EBITDA the a headwind FX cash midpoint free in to free a to
finally, [ at modest ] XXXX We onetime wine the integration expect XXXX. for to as come of not margin a future and guidance, in in to million for initiatives be provide as year. do expect year EBITDA first with revenue slight we the invest forecasted next and $XXX expansion quarterly CapEx benefits both vertical notable for growth And we and a sequentially XXXX. working planned from decline the we while several capital outflow quarter
XX. Page to Turning
term. Looking now to medium the
EBITDA cash free targets adjusted providing sales, XXXX are for and adjusted flow. We
XXXX. represents For between sales, X% $XXX in a billion. XXXX and This of increase XXXX is growth sales and an our target $X.XX for million CAGR
We're a forecast growth expecting digits mid- strategic modest Our by of our in the our and LDP both high customers to driven on for period. XXXX, initiatives. growth of market assumes XXXX over the single progress
a largely vehicles and products products, markets, of launches with be white in Asia space to by that including and our growth OEMs strategy our with next-generation Europe customers driven building adjacent our growing in rest of SDV expect of with commercial X-wheelers. in in business We align and
such with compute as continue controller to BMW OEM including X-wheelers luxury cluster new Toyota, or and a with in Zeekr German large and cockpit multiple a with China. CDC on TVS, products have programs We display with Suzuki, Honda, product with launches, significant high-performance a domain few Maruti a program Royal Enfield a key
and As domain our a growth displays driven continue OEMs markets. result, with expanding our while in share same space time, at evolve product portfolio to market cockpit mix the white will and controllers, with electrification by adjacent
will anticipate addition, In growth return we to XXXX. starting we in in China
the For to adjusted represents of integration. is manufacturing increase Roughly XXXX. XX.X% in business from from half expected in costs, other margin including to performance further basis to as EBITDA, operational relates point grow scale half increase expand in vertical a This we the the improvements and and leveraging are XX XXXX. margins
control range. the continued on in cost focus low Our XX% incrementals drives
to more XXXX, which levels. EBITDA of or convert adjusted to represents free With adjusted to free cash adjusted expect we flow XXXX $XXX from cash XX% XX% CAGR of than flow flow, a in million regard cash
XXXX the a to result flow. adjusted XXXX capital-light our XX% cash of As flows nearly from in of free increase business EBITDA through model,
Our for capital strong shareholder significant to and M&A returns. will flow deployed level of cash be allow to
foundation that have for through results Overall, plan strong past the substantial in cash showing am very the positions years on sales, us and I are free we deliver in growth over here. put this to the we few flow confident XXXX. EBITDA I financial and am excited well
a Turning to investment compelling opportunity. remains XX. Visteon long-term Page
provides of powertrain flow allocation for expansion free higher margin generation, vehicles. well demand to balance expect while and cash top sheet more the electric line Visteon and benefit our positioned growth, hybrid cockpit our the priorities. and significant of from digital strong to We is for pursue flexibility capital us content with regardless growth in
open Thank I like you the would for questions. to your call for your now time today.
