our Thanks, Troy, XXXX quarter first results. review joining and to good morning, today everyone, for and thank us you
team our across times. I has would There Before thank sacrifices many to tremendous global been short the who I resiliency begin my these have remarks, shown first organization. throughout challenging like
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the highlights quarter, on you from have for were our with I'll COVID, Now, to our well the COVID the quarter In in impact will of economic we first impacted the provide an strategy down. current slide the larger our four. results customers automotive were as update seen shut that as environment. the moving pandemic. line all operating by nearly significantly discuss on I industry, then as
to our key And this actually deliver of roadmap. we we on of on escalation we metrics prior earlier. global on delivered significant value-creation various track shared were progress targets However, the with you the to crisis,
than we last and premium This or resulted continue consisting portfolio wheels on year. differentiated growth were XX% sales portfolio higher XX-inch our First, in with above execute we on to about of of of where our value-added X%, market of substantially greater technologies.
by lines, Our margins enhance rationalizing an North efforts footprint, fixing margin point entire a our in volume. year-on-year improvement despite business, our across decline the America, delivered in basis XX% to troubled and portfolio product our reducing expanding XX structural product costs,
and quarter the $XX in with ended million available of we Finally, reduction debt. net liquidity an million $XXX
Our current weather us it the liquidity position storm to is very allows strong and we ahead. believe
of production significant. and In Now facilities. regarding the quarter, our temporary the safety at the actually first measures our implemented of employees, COVID-XX. suspension ensure to of pandemic response, In was we the health impact immediately including the
Our unit about and by negatively shipments by XX% were impacted EBITDA actually $X million.
liquidity up changed our do in and on we environment costs moment. flexibility. balances. these preserve moved our and our the to actions down As I align augment the where actions To late will revolvers, a shoring covenants quarter, we not debt quickly, our in the taking drastically -- are scenario with not of all with compliance our we elaborate details financial we we cash foresee position, a in these. compliance not do see We drew on in remain
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to we However, OEMs as change second move quarter begin suppliers and could and materially, the production. restart through that
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on slide five. Turning to
on diving our America. COVID-XX restart plans, in like North an provide I response our and into continued Before deeper would to progress update
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also now optimize in reduced We North and our expenses footprint, which America cost. low is XXX%
certified European requirements, these have businesses facilities for been customers our America. Further, enabling in North new with
the margin narrow to between North we of operations many a European standpoint, stated these I quarter, American As expect from gap operations. and our last initiatives
these While represent manufacturing we room more improvement. have for progress, significant initiatives still
X. on to slide Moving
in mentioned moved health of our safety the COVID to my and employees. remarks, ongoing ensure earlier response the to As in decisively pandemic, we
we Additionally, production liquidity, financial flexibility took shoring to reducing our and by capacity. costs efficiently enhance action about managing
be chart primary to four the these our you areas Now focus. will see continue on
X. Turning on slide to
the place safety mentioned, in suspended put production we employees and health of late to our and safety our I ensure As March in playbook.
our the day necessary escalated, precautions my team to meeting on we I pandemic our implementing the phone at are leadership team facility. was the As every with began that ensure daily.
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overseeing also measures drive as committee health ramps actions. health and all global to safety protocols for these and an To committee our and of back across safety responsible our will created production footprint, consistent at health consistent sites drive safety up. we This employee steering continue
on to slide Moving X.
We liquidity decisive that. taken our position current confident are and steps in ensure have to
any capital and we to and continue can actions to nonessential further reduction on focus -- have eliminated cash other generate management generate capital expenditures cost all working can take initiatives. We through flow we
liquidity $XXX we were available caution, $XXX drew and previously, abundance part as credit liquidity in These we completed figures in of credit our ended the of up down on XX, balances the noted by our facilities April upsizing an We we European of with liquidity. cash maintained revolving facility, As of revolving to first shore quarter million January. of and our bolstered in million.
a headcount management our have we necessary the temporarily on and current We and executive furloughing cost standpoint, costs reducing measures the based cost better Turning footprint, workers. environment. steps reduce taken compensation broad-based the to to salaried by on From took across industry our with fit to and slide anticipated production, aligning reduction operating X. along current
example, SG&A For reduced we in America, headcount North XX%. approximately by our
where the authorization salary of Germany Additionally, the in of the across Germany, we is from government. have salaries all their work for production This taken employees workforce in advantage much there. and time -- receive in of our majority programs short associates
layoff. reduced the workers, contract a workforce In temporary post Mexico, releasing and reductions both we combination of through
our taking furlough. U.S. pay in and temporary received reduction are locations, Finally, a all in associates
slide to Turning on XX.
health -- in efficiency In facilities and of in facilities of to ensuring decisively in our and our we our and safety early have stopped Mexico, maximize responded to are to of our facility. each April Europe, manufacturing We production employees the our production sites by mid-March.
levels coming with fourth in have and inventory facilities operations actively opening summer the May that monitoring watching anticipate already hear reopened We're have three in the in we We're our Chihuahua this in restart on in by weeks. facilities XX. We government anticipate We happy this the of and Mexico line reopening heard to our which we light news. of the Europe and green demand. the of for decree this Mexico, way, morning in
on slide Moving XX. to
facilities As mix and the Europe in America and and local continue. product in we accordance our federal, state currently seeing guidelines, with positive trends open we're ongoing North
chart on of article an right see You to side mix. the there that relative
as we facilities North blueprint will Now use in this that through been the Europe for have reopening, a our America.
to ensure chain working We will to according -- seen close contact and have supply we ensure we in is the ready proceed to to and be demand. with suppliers understand customers to have closely our our been requirements
North the restore. in through anticipating production the production operating cannot Again weeks under reduced America coming in We're and managing the while inefficiencies inventory, restarting full the of we production predict COVID-XX, we'll worldwide. closely we're be volumes assumption of impact
negative utilize strategies all measured ramp-up the mitigate of to will Our restarts. impacts we and will be
controlling cost, these main cost Turning will the crisis be efficiently In full execute production. on on and managing coming of priority return to each and focus as manage slide to areas; months, liquidity, production to the maintaining XX. safety, four through and our and we
totaling and In Europe, XX% market. in XX% in our QX, XX% North industry declined volumes America in
we During OEM the in Europe in production latest forecast. XX% in both second year with on regions IHS are down full quarter, America vehicle in a about drop by anticipating North based and XX% the the XX%
to for near-term. assuming protracted are in recovery, levels and a decline the not the will we potential pre-COVID Given volume return the
over make turn I comments. I it Before to to a Matti, few final like would
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