Plymouth, Michigan – Adient, a global automotive seat maker, generated sales of $3.8bn in the second quarter of 2021 up 8.77% on the same period last year. Adjusted EBITDA across the business rose 39.8% and reached $323m in the second quarter of 2021.
In the company's Americas business, sales were almost unchanged at $1.6bn in the second quarter of 2021, but adjusted EBITDA in the division fell 39.6% to $64m. This compares with $106m in the equivalent period in 2020.
Numbers in the Americas were hit by 'temporary operating inefficiencies [caused by] supply chain disruptions,' said the company.
The company's EMEA business had sales which grew 9.9% between the second quarter of 2020 and the second quarter 2021. They reached $1.5 bn in the second quarter of 2021. This compares with $1.4bn in the equivalent period last year.
At the same time, adjusted EBITDA in the division rose 56.0%. It reached $62m in the second quarter of 2021. This compares with $62m in the equivalent period in 2020.
EMEA numbers include trading performance and a number of commercial settlements, said Adient. Numbers were hit by supply chain problems and the high cost of raw materials.
In Asia Sales were up by 32.43% reaching $588m in the quarter. This compares with $444m in the same quarter last year.
Meanwhile, adjusted EBITDA in the business rose by 92.06% to $121m in the quarter.
The figures in Asia were helped by better income volumes and product mix in China as did local freight costs in the region. Adient also restructured its operations in China selling its 49.9% stake in its Yanfeng Adient Seating company for $1.2bn and buying parts of the business. The company also sold its 50% stake in a much smaller JV to Shenyang Jinchen Automobile Technology Development for $58m. When these deals complete, Adient said that its directly owned China business should have sales of about $4.5bn. Adient continued that it will be in the top three complete seat players in the China market with 12% share.
