Company: APTV
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000950170-25-036263
Chunk: 16

Company: Aptiv PLC
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 16
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 making those decisions, including Company performance.

2024 YEAR IN REVIEW

Company Financial and Business Performance Highlights.Our 2024 performance reflects our solid execution and cost reduction initiatives despite the global inflationary environment. Our recent business and financial achievements include the following:

Generated new business awards of approximately $31 billion, based on expected volumes and prices, validating our industry leading portfolio of advanced technologies tied to the industry megatrends

Delivered strong earnings growth over the prior year despite declines in global vehicle production and the significant increase in labor inflation

Produced $2.4 billion of adjusted operating income, demonstrating strong operating execution off-setting continued cost inflation

Expanded adjusted operating income margin to 12.0%, driven by strong operating performance and cost reduction initiatives

Increased cash flow from operations to $2.4 billion, resulting from earnings growth and benefits from working capital initiatives

Funded $4.1 billion in share repurchases, including $3.0 billion under the terms of the Company's accelerated share repurchase program

Refinanced over $1.4 billion in near-term debt maturities and maintained a well-laddered debt maturity profile, optimizing our capital structure while increasing our financial flexibility and reducing our short-term refinancing risks

Restructured our Motional AD LLC (“Motional”) joint venture ownership, reduced our common equity interest from 50% to 15%, eliminated future cash funding requirements, while maintaining access to technology and market intelligence regarding AVs

Continued our relentless focus on operating execution and an optimized cost structure

Maximized our operating leverage and profitability at all points in the automotive business cycle, by continuing to increase the percentage of our operators and engineers based in best cost countries, and continuing to reduce the size of our salaried workforce

Continued the adoption of Wind River Studio Developer, now across 60% of relevant AS&UX customer programs, resulting in increased software development production and improved code quality

Enhanced our optimized full system, edge-to-cloud capabilities

Continued to adapt our advanced driver assistance and in-cabin sensing systems to leverage containerized, service-based software architecture; and

Increased the resilience of our regional supply chains and flexibility for our customers through investments in computer vision providers StradVision, Inc. and MAXIEYE Automotive Technology (Ningbo) Co., Ltd.

Met our sustainability-linked goals, which include, but are not limited to, targets for greenhouse gas emissions and workplace safety.

28COMPENSATION DISCUSSION AND ANALYSIS

Our strong strategic, operational and financial performance over time