5 May 2022
Automotive technology company Lear Corporation saw sales fall by 3% year-on-year in the first quarter to US$5.2 billion. Lear Corp includes leather processor, Eagle Ottawa, reports ILM. Net income for the period was US$49 million with adjusted net income at US$108 million, against first quarter 2021 results of US$204 million and US$225 million respectively. However, Lear reports that its sales outperformed global industry production by four percentage points, reflecting growth for seating and e-systems. Global vehicle production fell by 4% in the quarter, with Europe decreasing by 18%, North America by 2% and China growing by 8%. Lear completed its acquisition of Kongsberg Interior Comfort in the first quarter, which will expand the company’s offerings in the thermal comfort solutions market. Looking forward, the company has reduced its expectations for global industry production growth from 6% to 3%, and adjusted its forecasts based on Covid-19 and war-related disruptions to supply chains and productions. As of the first quarter report, Lear expects to achieve US$20.4-21.2 billion in net sales, with an adjusted EBITDA of US$1.37-1.57 billion. Ray Scott, President and CEO of Lear, said: “Despite industry challenges and lower global industry volumes in the first quarter, Lear delivered better financial performance sequentially in both Seating and E-Systems. “In a challenging environment, we are proactively adjusting our cost structure to align with production volumes while continuing to invest in our core businesses to deliver profitable growth, strong cash flow and significant shareholder returns as the industry recovers.”

關於亞太區皮革展 ​

我們為皮革、物料及時裝業界創造面對面洽談的機會,爲客戶締造實質商機。我們雲集世界各地的商家,讓他們尋找新的合作伙伴,發掘潛在客戶或供應商,並掌握業界最新發展。   我們主辦多個專注時尚及生活潮流的商貿展覽會, 為這不斷變化的行業,提供最全面的買家及參展商服務,方便他們了解急速轉變的行業環境,並預測來季趨勢。

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