At the same time, adjusted EBITDA in the region shrank by 30.5%. It was $210 m in 2019. This compares with $302 m in 2018. Adient said that most of the hit was taken in the first half of the year. There was a 70% improvement adjusted EBITDA in the second half compared with the first half of 2019. This was due to the company's turnaround plan.
The company's EMEA business saw sales shrank by 10.23% between 2018 and 2019. They reached $6.7 bn in 2019. This compares with $7.4bn in 2018.
Meanwhile, Adjusted EBITDA in the division shrank by 55.8%. It reached $161 m in 2019. This compares with $364 m in 2018.
A combination of inefficiencies caused by new launches, was in large part to blame for the fall in EBITDA. There was a marked 60% improvement in this measure in the second half of the year, compared with the first half. The company managed to reduce freight costs in the second half and lower materials prices helped EBITDA.
Sales at the company's Asia business shrank by 12.11% between 2018 and 2019. They reached $2.3 bn in 2019. This compares with $2.6bn in 2018.
Adjusted EBITDA in the division shrank by 17.79%. It reached $513 m in 2019. This compares with $624 m in 2018. The company said that it managed its head counts and flexible costs to help to support margins despite weak industry performance.
Adient said that it expects to improve earnings and cash flow in 2020 despite continued economic and market pressures. It expects consolidated sales to be between $15.6 bn and$15.8 bn. adjusted EBITDA should be between $820 m and $860 m.
