Financial Performance - Total revenue for the fiscal year ending March 31, 2023, was $3,646 million, a 6% increase year-over-year, with an 11% increase in underlying revenue excluding currency fluctuations and acquisitions[2] - Gross profit was $716 million, up 2% compared to the previous year[2] - Adjusted EBITDA, excluding non-cash foreign exchange movements and restructuring costs, decreased by 10% to $220 million, representing 6.0% of revenue (compared to 7.1% in FY21/22)[2] - Net profit attributable to shareholders was $158 million, an 8% increase year-over-year[2] - Free cash flow from operations was $215 million, compared to a cash outflow of $132 million in the previous year[2] - The company's EBITDA for the fiscal year 22/23 was $232 million, compared to $222 million in the previous year[6] - Adjusted EBITDA, excluding non-cash foreign exchange movements and restructuring costs, was $220 million, representing 6.0% of revenue (down from 7.1% last year)[6] - Net profit attributable to shareholders increased by 8% to $158 million, or $0.1733 per share on a fully diluted basis[6] - The company generated $215 million in free cash flow from operations, primarily due to reduced working capital and capital expenditures[6] - Revenue increased by $200.0 million or 6% to $3,646.1 million in FY22/23 compared to FY21/22[12] - Gross profit margin decreased to 19.6% in FY22/23 from 20.4% in FY21/22[10] - Adjusted EBITA decreased to $220.1 million in FY22/23 from $243.8 million in FY21/22, with a margin of 6.0% compared to 7.1%[10] - Net profit attributable to shareholders increased to $157.8 million in FY22/23 from $146.4 million in FY21/22[10] - Free cash flow from operations improved to $214.8 million in FY22/23 from a negative $132.4 million in FY21/22[10] - Net profit for FY22/23 was $146.4 million, with a reported net profit of $157.8 million after tax impacts[28] - Unrealized gains on other financial assets and liabilities netted a loss of $6.7 million[28] - Unrealized foreign exchange losses on monetary assets and liabilities netted a gain of $10.5 million[28] - Restructuring and related costs amounted to $1.4 million[28] - Net profit excluding non-cash foreign exchange changes and restructuring costs was $147.9 million, representing 4.1% of revenue[28] - Sales volume, price adjustments, and cost-saving measures contributed to a $40.0 million increase in net profit, partially offset by rising raw material and operational costs[31] - Foreign exchange fluctuations had a negative impact of $38.0 million on net profit, primarily due to the depreciation of the Euro[31] - Gross margin decreased from 20.4% in FY21/22 to 19.6% in FY22/23, with an adjusted gross margin of 20.1% excluding foreign exchange impacts[31] Revenue by Business Segment - The Automotive Products Group achieved revenue of $2,914 million, a 16% increase excluding foreign exchange impacts and a prior-year acquisition, outperforming the global light vehicle production growth estimate of 9%[4] - The Industrial and Commercial Products Group reported revenue of $732 million, accounting for 20% of the company's total revenue, with a 7% decline excluding foreign exchange impacts and a prior-year acquisition[4] - Automotive product group revenue increased by $269.4 million or 10% to $2,913.7 million in FY22/23[13] - Industrial and commercial product group revenue decreased by $69.4 million or 9% to $732.4 million in FY22/23[13] - Automotive product group revenue increased by 16% YoY, excluding FX impact and the acquisition of Zimmermann, compared to a 9% increase in global light vehicle production[17] - Asia revenue for the automotive product group grew by 13%, driven by new business wins, increased sales, and growth in China's new energy vehicle market[17] - Europe revenue for the automotive product group rose by 17%, supported by expanded production on recently acquired customer platforms[17] - Americas revenue for the automotive product group increased by 19%, benefiting from normalized production plans post-semiconductor shortages and higher sales from new business wins[17] - Industrial and commercial product group revenue declined by 7% YoY, excluding FX impact and acquisitions, due to reduced demand for home-related products and inflationary pressures[20] - Asia revenue for the industrial and commercial product group fell by 26%, impacted by reduced demand for small home appliances and entertainment products in Europe and the Americas[21] - Europe revenue for the industrial and commercial product group decreased by 2%, with growth in beverage equipment and semiconductor-related products offset by declines in home-related products[21] - Americas revenue for the industrial and commercial product group grew by 9%, driven by increased demand in ventilation, automation, and medical equipment markets[23] - The acquisition of Pendix GmbH contributed $4.6 million to the industrial and commercial product group's revenue in FY22/23[22] Cash Flow and Financial Position - Cash reserves stood at $409 million as of March 31, 2023, with a net debt-to-capital ratio of 16%[2] - The company proposed a final dividend of 34 HK cents (4.36 US cents) per share, bringing the total dividend for the year to a 50% increase compared to the previous year[2] - The company recommended a final dividend of 34 HK cents per share, bringing the total annual dividend to 51 HK cents per share, equivalent to 6.54 US cents per share[6] - Total debt to capital ratio remained stable at 16% as of March 31, 2023[10] - Enterprise value to adjusted EBITDA ratio decreased to 2.5 in FY22/23 from 3.0 in FY21/22[10] - Interest coverage ratio decreased to 9.8 in FY22/23 from 11.9 in FY21/22[10] - Inventory decreased by $58.5 million to $589.0 million, with inventory days reduced from 75 to 66 days[35] - Accounts receivable decreased by $26.3 million to $808.2 million, with receivable days reduced from 69 to 64 days[35] - Free cash flow for FY22/23 was $214.8 million, a significant improvement from a free cash outflow of $132.4 million in FY21/22[39] - Operating working capital improved by $27.5 million due to management actions to control working capital needs[39] - Capital expenditures decreased by $89.8 million to $226.6 million as the company focused on improving asset utilization and stricter capital allocation[39] - The company acquired an 80% stake in Pendix for $20.3 million and the remaining 20% non-controlling interest in Halla Stackpole for $50.8 million[40] - Net debt decreased by $80.1 million to $65.3 million as of March 31, 2023[46] - Available unused credit facilities totaled $759.0 million as of March 31, 2023[44] - The company maintained stable investment-grade credit ratings from Moody's (Baa1) and S&P (BBB)[43] - Cash and cash equivalents increased by $63.3 million to $408.7 million as of March 31, 2023[44] - Income tax paid decreased by $12.1 million to $29.3 million due to lower taxable profits in the prior year[39] - The company invested $1.5 million in the joint venture Lean AI during FY22/23[40] - Loans decreased by $16.8 million to $474.0 million as of March 31, 2023, with a $69.0 million credit facility from HSBC for refinancing[49] - Total debt to capital ratio remained stable at 16% as of March 31, 2023, with total debt to adjusted EBITDA ratio at 1.3x[51] - Enterprise value to adjusted EBITDA ratio decreased from 3.0x in 2022 to 2.5x in 2023[51] - Interest coverage ratio was 9.8x as of March 31, 2023, compared to 11.9x in 2022[51] - Final dividend for FY22/23 proposed at 34 HK cents per share, equivalent to $39.9 million, with a scrip dividend option[52] - Interim dividend for FY22/23 was 17 HK cents per share, equivalent to $19.8 million, with $14.6 million settled via new shares and $5.2 million in cash[52] - Foreign exchange contracts' fair value decreased by $11.1 million to $216.2 million as of March 31, 2023, due to reduced RMB contract gains[56] - Lease liabilities decreased by $34.1 million to $93.4 million as of March 31, 2023, with a $25.1 million reduction from lease payments and terminations[49] - The company maintains a prudent debt level and fully complies with financial covenants, including net debt to EBITDA and EBITDA to interest expense ratios[51] - Foreign exchange risk is managed through forward and structured foreign exchange contracts with maturities ranging from 1 to 66 months[55] - The company's ordinary and structured forward contracts for selling euros and buying dollars increased the financial assets reflecting cumulative fair value gains by $19.1 million to $133.1 million as of March 31, 2023, compared to $114.0 million on March 31, 2022[58] - Structured euro contracts decreased financial assets reflecting cumulative fair value gains by $7.2 million to $30.2 million as of March 31, 2023, compared to $37.4 million on March 31, 2022[58] - The total financial assets reflecting cumulative fair value gains from euro contracts increased by $11.9 million to $163.3 million as of March 31, 2023, compared to $151.4 million on March 31, 2022[58] - Ordinary forward contracts for RMB decreased financial assets reflecting cumulative fair value gains by $44.5 million to $44.9 million as of March 31, 2023, compared to $89.4 million on March 31, 2022[59] - Estimated future cash flow benefits from ordinary forward and cross-currency interest rate swap contracts are $222 million as of March 31, 2023, compared to $326 million on March 31, 2022[62] - Estimated future cash flow benefits from structured foreign exchange contracts are $33 million as of March 31, 2023, compared to $45 million on March 31, 2022[62] - Copper material spot price decreased by 14% to $8,935 per ton as of March 31, 2023, compared to $10,337 on March 31, 2022[63] - Aluminum material spot price decreased by 33% to $2,337 per ton as of March 31, 2023, compared to $3,503 on March 31, 2022[63] - The fair value net of commodity contracts decreased by $42.7 million, primarily due to declining commodity prices and contract consumption[64] - The total fair value net of commodity contracts decreased to $19.3 million as of March 31, 2023, compared to $62.0 million on March 31, 2022[65] Strategic Initiatives and Market Positioning - The company is well-positioned to gain market share in the automotive sector due to its investments in new products designed to support the transition to electric vehicles[4] - The company acquired the remaining 20% stake in Halla Stackpole Corporation, a powder metal business with strong market positions in China and South Korea[6] - In October 2022, the company completed the acquisition of an 80% stake in Pendix GmbH, a German company specializing in electric bicycle drive systems[6] - The company expects sales growth for the fiscal year 23/24 to be between 5% and 7%[8] - The company is highly susceptible to global economic and geopolitical environments, trade issues, and industry dynamics, which could impact product demand and financial performance[71] - The company is expanding its global business and seeking growth through acquisitions and joint ventures to mitigate risks from regional economic downturns[71] - The company is investing in cost-effective solutions and improving productivity to maintain competitiveness in core and expanding markets[74] - The company is focusing on innovation and intellectual property development to manage technological competitiveness and become a preferred supplier for customer-driven solutions[75] - The company is diversifying its customer and product portfolio through internal development and acquisitions to reduce dependency on major clients and products[77] - The company is implementing strategic planning and risk assessments aligned with technological development roadmaps, including automation and AI integration[75] - The company is continuously monitoring and expanding its global operations to adapt to political, regulatory, social, and economic changes in developing countries[77] - The company is managing contract risks through industry-standard terms and conditions, ensuring compliance and reducing potential losses[78] - The company is safeguarding its intellectual property through patent applications and enforcement actions against infringement[79] - The company is mitigating supply chain risks by strengthening regional production capabilities and gradually increasing localized supply chains[83] - The company is reducing logistics risks by optimizing international commercial terms for customer shipments and maintaining safety stock within regions[83] - The company is addressing business interruption risks by diversifying operational locations and consolidating production facilities and supply chains[84] - The company is managing human resource risks through talent retention strategies, automation, and digitalization to streamline operations[85] - The company is reducing tax risks by complying with tax laws and seeking professional advice in case of unclear tax regulations[88] - The company is lowering product liability risks by continuously improving engineering and manufacturing processes and conducting safety reviews[90] - The company is addressing energy risks by reducing operational energy intensity and seeking renewable energy sources[91] - The company is mitigating fraud risks through identity verification, proactive supervision, and robust internal controls[92] Sustainability and Environmental Initiatives - The company is committed to reducing carbon emissions, increasing renewable energy usage, and minimizing ecological impact[98] - The company is designing eco-friendly products and conducting carbon footprint assessments to meet sustainability requirements[100] - The company is committed to protecting the environment for future generations, focusing on energy and climate, waste, water resources, and emissions[106] - The company maintains a robust sustainability management system with clear goals, roles, responsibilities, accountability, and processes, overseen by the Board of Directors[108] - The Social Impact and Sustainability Committee, led by an Executive Director, is responsible for developing the company's sustainability culture, strategy, goals, and actions, aligning with stakeholder objectives[109] - The company ensures that all business units and functional departments incorporate sustainability strategies, key performance indicators, and goals into their strategic plans to achieve overall sustainability commitments[109] - The company has achieved a 53% reduction in global warming potential for selected products through material selection and renewable energy use in the design process[114] - The company avoided 383 tons of packaging material consumption by using recyclable packaging for four customers in China from 2020 to present[116] - The company's vertical integration helps reduce environmental impact by providing complete drive subsystems, including motors, switches, gears, and control electronics[110] - The company's products are designed to be energy-efficient, low-noise, and long-lasting, suitable for household appliances like lawn mowers, power tools, and air conditioners[110] - The company uses lifecycle assessment (LCA) and product carbon footprint (PCF) methods to track and reduce environmental impact throughout the product lifecycle[113] - The company's manufacturing facilities and internal testing labs comply with international standards, including ISO 9001, IATF 16949, and ISO 17025[115] - The company has received supplier quality excellence awards in Canada, China, and Europe for consistent performance in quality, delivery, and environmental compliance[115] - The company focuses on reducing consumption, reusing materials, and recycling waste in its manufacturing processes to minimize environmental impact[116] - The company is exploring opportunities to expand the use of recyclable packaging to more customers[116] - The company aims to develop new products with optimized PCF, LCA, and environmental product declarations[114] - 15 operational sites across 10 countries are now using 100% renewable energy, increasing the company's renewable energy usage to 22% (excluding grid-mixed renewables) and 40% (including grid-mixed renewables)[121] - The company installed 6,600 solar panels at its Jiangmen, China facility, expected to generate over 3,700 MWh of renewable energy annually and reduce 2,200 tons of carbon emissions[122] - The company achieved a 21% reduction in Scope 1 and 2 absolute carbon emissions in FY22/23 compared to the FY20/21 baseline[120] - The company has set a new target to reduce operational carbon emissions by 42% by 2030 (Scope 1 and 2) and achieve net-zero emissions globally by 2050[120] - The company achieved zero waste to landfill in FY22/23, with 93% of waste being recycled, mostly from production materials such as steel, copper, and plastics[124][125] - All of the company's production facilities (100%) are ISO 14001:2015 certified, and 11 facilities, including its largest, are ISO 50001:2018 certified for energy management[118] - Water consumption decreased by 7% in FY22/23, with water intensity per revenue dropping by 12% due to water-saving initiatives and recycling projects[126] - VOC emissions were below permitted levels, with measures taken to further reduce emissions, including using lower VOC alternatives and implementing exhaust control systems[127] - The company recycles and reuses epoxy and copper powders from production processes to reduce particulate emissions[127] - The company focuses on reducing greenhouse gas emissions and energy consumption in its production processes to contribute to sustainability[135] Corporate Governance and Ethics - The company emphasizes trust and transparency, adhering to high standards of integrity, openness, and fairness, with strategies and policies addressing corporate governance, ethics, compliance, data protection, and supply chain[106] - The company integrates human rights and labor rights into its business code, promoting diversity and equal opportunities, and ensuring compliance with labor laws and regulations to protect employee well-being[101] - The company's Code of Ethics and Business Conduct guides employees in making ethical decisions and maintaining legal and ethical standards, with no significant non-compliance with laws and regulations reported in the 22/23 fiscal year[168] - The Board of Directors consists of 2 executive directors and 9

Financial Performance - The group's revenue reached $1,770 million, an increase of 6% compared to the same period last year. Excluding the impact of currency fluctuations and acquisitions, revenue grew by 11%[3] - Gross profit was $355 million, representing 20.0% of revenue, down from 21.3% ($357 million) in the same period last year[3] - Adjusted EBITDA was $111 million, compared to $138 million in the same period last year[3] - Net profit attributable to shareholders decreased by 40% to $56 million, or $0.0621 per share, fully diluted[3] - Free cash flow from operations was $80 million, compared to a cash outflow of $56 million in the same period last year[3] - The net profit attributable to shareholders for the first half of the fiscal year 22/23 was $55.9 million, a decrease from $93.2 million in the same period of the previous year[12] - The operating profit for the six months ended September 30, 2022, was USD 69,031 thousand, down from USD 116,926 thousand in the previous year, reflecting a decline of approximately 41%[85] - The profit attributable to shareholders for the six months ended September 30, 2022, was $55,884 thousand, down from $93,179 thousand in the same period of 2021[186] Revenue Segmentation - The automotive products segment accounted for 79% of total revenue, with a fixed exchange rate revenue increase of 16%[5] - Revenue from the Americas automotive products segment increased by 23% at fixed exchange rates, while Europe saw an 8% increase, and Asia (mainly China) increased by 17%[5] - The industrial products segment represented 21% of total revenue, with a fixed exchange rate revenue decline of 5%[6] - The automotive product segment's revenue reached $1,472.2 million, reflecting a 16% increase from $1,268.7 million in the previous year, while the industrial product segment's revenue decreased by 5% to $384.1 million[14] - Revenue for the first half of the fiscal year 22/23 increased by $182.2 million compared to the first half of the fiscal year 21/22, with the automotive segment contributing an increase of $203.5 million and the industrial segment decreasing by $21.3 million[16] Acquisitions and Investments - The company completed the acquisition of Halla Stackpole Corporation, increasing its stake to 100%, which is expected to enhance operational synergies in the powder metal business[9] - The company also acquired 80% of Pendix GmbH, a key player in the electric bicycle industry, aiming to leverage its technology and expertise to strengthen its position in the European market[9] - The company acquired 80% of Pendix GmbH on October 13, 2022, which had a revenue of €17.4 million ($17.1 million) for the year ending December 31, 2021[21] - The acquisition of an additional 50% stake in Halla Systech increased the company's ownership from 30% to 80%, with a purchase price of $83.2 million (939 billion KRW)[164] - The company completed the acquisition of the remaining 20% stake in Halla Systech for 50.8 million USD (703 billion KRW) on September 19, 2022, making it a wholly-owned subsidiary[164] Cash Flow and Liquidity - As of September 30, 2022, the total debt-to-capital ratio was 17%, with cash reserves of $298 million[7] - The company reported a net cash flow change in working capital of $13.3 million, with total working capital amounting to $755.0 million as of September 30, 2022[30] - The company reported cash and cash equivalents of USD 298,165 thousand as of September 30, 2022, down from USD 345,404 thousand[83] - The company reported cash generated from operations for the six months ended September 30, 2022, was $212,578 thousand, significantly higher than $118,693 thousand in the same period of 2021[190] Debt and Financial Ratios - The total debt as of September 30, 2022, was $471.7 million, slightly reduced from $490.8 million as of March 31, 2022[12] - The company's market capitalization as of September 30, 2022, was $911.8 million, down from $1,239.4 million as of March 31, 2022[12] - The debt-to-capital ratio rose from 16% on March 31, 2022, to 17% on September 30, 2022[49] - The interest coverage ratio was 10.7 times as of September 30, 2022, down from 11.9 times on March 31, 2022[49] Shareholder Information - The company announced an interim dividend of HKD 0.17 per share, equivalent to USD 0.0218 per share, with a scrip dividend option available[8] - The company declared an interim dividend of HKD 0.17 per share for the first half of the 22/23 fiscal year, totaling $19.7 million, consistent with the previous year's interim dividend[49] - The company reported a total of 526,627,622 shares held by major shareholder Wang Guo Yizhen, representing 57.478% of the total equity[71] - Major shareholders include Deltec Bank & Trust Limited with 225,703,430 shares (24.63%) and HSBC International Trustee Limited with 211,488,543 shares (23.08%) as of September 30, 2022[74] Operational Challenges - The company anticipates challenges in the global manufacturing outlook due to high inflation and geopolitical tensions, prompting a focus on cash flow generation and cost control[10] - The industrial segment's revenue decreased by 5% compared to the first half of the fiscal year 21/22, impacted by COVID-19 lockdowns and semiconductor shortages[20] - The company faced challenges from rising raw material prices and semiconductor shortages, which were partially offset by cost-saving measures[28] Foreign Exchange and Commodity Risks - Foreign exchange fluctuations negatively impacted revenue by $89.8 million, primarily due to the weakening of the Euro and Renminbi against the US dollar[16] - The euro weakened against the US dollar by 13%, impacting the company's hedging strategies[54] - The US dollar strengthened against the Chinese yuan by 12%, resulting in a decrease in the fair value of RMB contracts by $90.1 million to a liability of $0.7 million as of September 30, 2022[57] - The company continues to manage commodity price risks through cash flow hedging contracts with various expiration dates ranging from 1 to 30 months[62] Employee Compensation and Governance - The total remuneration for directors for the six months ended September 30, 2022, was $1.993 million, a decrease from $4.021 million in the same period of 2021[196] - Senior management compensation for six months ended September 30, 2022, was $3.517 million, down from $6.063 million in the prior year[197] - The company has complied with the standard code for securities transactions as per the listing rules, with all directors confirming adherence for the six months ending September 30, 2022[68] Market Position and Strategy - The company continues to invest in automation to standardize operations and improve product quality and reliability[33] - The company has not changed its risk management policies since March 31, 2022, which include market risk, credit risk, liquidity risk, and capital risk[198] - The company plans to utilize the net proceeds from the bond issuance for general corporate purposes, refinancing, and extending debt maturities[150]

Financial Performance - Total revenue for the year was $3.4 billion, with a net profit of $146 million[3]. - For the fiscal year ending March 31, 2022, the total revenue was $3,446 million, an increase of 9% compared to the previous year[19]. - The automotive products segment generated revenue of $2,644 million, reflecting a 5% increase, despite a global light vehicle production decline of approximately 1% during the same period[19]. - The gross profit was $702 million, down 3%, with adjusted operating profit before interest, tax, and depreciation decreasing by 27% to $244 million, representing 7.1% of revenue[19]. - Net profit attributable to shareholders was $146 million, a decrease of 31% year-over-year, while basic net profit was $165 million, down 34%[19]. - The industrial products segment achieved revenue of $802 million, accounting for 23% of total revenue, with a 12% increase excluding foreign exchange effects[19]. - Free cash flow was a net outflow of $132 million, compared to an inflow of $171 million in the previous year[20]. - The company plans to distribute a final dividend of 17 HK cents per share, totaling an annual dividend of 34 HK cents, down from 51 HK cents last year[20]. - The automotive product segment's revenue increased by $132.9 million or 5% to $2,576.4 million, while the commercial product segment's revenue rose by $87.9 million or 12% to $800.6 million[51]. - Shareholders' profit attributable to the company was $146.4 million, down from $212.0 million in the previous fiscal year[50]. Operational Challenges - The company faced significant operational challenges due to semiconductor shortages and disruptions caused by geopolitical events, including the war in Ukraine[19]. - The company is actively addressing the challenges posed by semiconductor shortages, which have limited its ability to meet customer demands[21]. - Supply chain bottlenecks, particularly semiconductor shortages, significantly disrupted the automotive industry during the fiscal year[57]. - Significant increases in shipping and logistics costs, along with rising IT infrastructure costs, have impacted operational profitability[20]. Market and Product Focus - The revenue breakdown shows 77% from automotive products and 23% from industrial products[7]. - The automotive industry is undergoing a structural shift towards hybrid and electric vehicles, which the company is focusing on through innovation in key automotive systems[19]. - The company is focused on investing in innovative technologies to provide unique driving solutions and redefine industry standards[16]. - The company is investing in innovative products and technology solutions to address trends in electrification, automation, mobility, safety, and healthcare[20]. - The company is focused on expanding its market presence and capabilities in the electric vehicle sector, which is seen as having the largest growth potential in the industry[21]. Sustainability Initiatives - The company is committed to sustainability, aiming to reduce greenhouse gas emissions and energy consumption through its drive-related products, which create value for customers and end-users[24]. - The company aims to reduce absolute carbon emissions by 25% by the end of 2030, based on 2019 levels, aligning with the Paris Agreement[39]. - By the end of 2022, the company targets 100% renewable energy usage in its EU facilities and aims for an A rating in the Carbon Disclosure Project (CDP) by the end of 2025[39]. - The company has committed to reducing absolute carbon emissions by 42% by the end of 2030, in line with the Science Based Targets initiative (SBTi)[39]. - The company has launched a global social impact network project "JEnerations," organizing nearly 100 community activities since its inception in April 2021[45]. Employee Engagement and Development - The company employs over 35,000 staff, including more than 1,500 engineers[2]. - The company has established technical colleges in China and Mexico to provide comprehensive education for local underprivileged youth through a three-year apprenticeship program[36]. - The company has implemented a training program for technicians to ensure consistent standards and quality across its global automated production lines[41]. - The company emphasizes continuous innovation and technological enhancement to provide unique solutions for customer success and user satisfaction[35]. - The company has a strong focus on talent management, holding monthly meetings with senior executives to drive talent mobility and improve corporate efficiency[128]. Governance and Compliance - The board consists of two executive directors and nine non-executive directors, with six being independent non-executive directors, ensuring a diverse range of expertise[153]. - The company has established a structured governance framework with four committees overseeing various governance matters, reporting regularly to the board[158]. - The company emphasizes high corporate governance standards to protect and enhance shareholder interests[152]. - The Audit Committee held four meetings during the fiscal year 21/22 to review the financial performance for the fiscal year 20/21 and the interim results for 21/22, ensuring compliance with accounting standards and legal requirements[69]. - The company has a whistleblower hotline for reporting unethical behavior without fear of retaliation[174].

Financial Performance - Total revenue for the company reached $3.3 billion, with a net income of $281 million[7]. - For the fiscal year ending March 31, 2019, total revenue reached $3,280 million, an increase of 1% compared to the previous fiscal year, with a basic revenue growth of 2% excluding acquisitions and currency fluctuations[55]. - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) totaled $549 million, up 6% year-over-year, while operating profit increased by 3% to $344 million, representing 10.5% of total revenue[55]. - Net profit attributable to shareholders rose by 7% to $281 million, equating to a fully diluted earnings per share of $31.60[55]. - The company’s market capitalization as of March 31, 2019, was $2,019.2 million, down from $3,236.1 million in the previous year[63]. - The company reported a diluted earnings per share of 31.60 cents for 18/19, compared to 29.65 cents in the previous fiscal year[63]. - The company’s net profit for fiscal year 18/19 was $289.6 million, reflecting a tax rate of 11.7%[75]. Revenue Segments - The automotive product segment serves over 500 customers, including OEMs and tier-one and tier-two suppliers, reflecting a growing demand for technology and solutions due to stricter emissions regulations[13]. - The automotive products segment generated revenue of $2,530 million, with a 2% increase excluding acquisitions and foreign exchange effects[58]. - Revenue in the Americas for the automotive products segment grew nearly 8% at constant exchange rates, despite flat light vehicle production[58]. - The industrial products segment's revenue rose 1% to $750 million, accounting for 23% of total group revenue[58]. Investments and Expansion - The company is investing heavily in automation to enhance product quality and address labor shortages and rising wages[60]. - Significant investments are being made in advanced automation production facilities to enhance production cycles and product quality, ensuring consistent quality across regions[26]. - The company aims to build a global production footprint to respond faster to customers, improve cost competitiveness, and reduce risks from tariffs and currency fluctuations[25]. - The company has expanded its operations in Mexico and Poland, establishing new production facilities to enhance its manufacturing capabilities[50]. - The company established an advanced digital factory in Jiangmen, Guangdong, to expand its growth platform in China[50]. Sustainability and Innovation - The company is committed to sustainable development, creating value through innovative technologies that reduce emissions and improve energy efficiency[32]. - The company is actively addressing climate change by manufacturing precision automotive parts that help reduce internal combustion engine CO2 emissions[39]. - The company is committed to reducing energy consumption, minimizing weight, and enhancing performance through innovative technologies[23]. - The company focuses on innovation and reliability in electromechanical power systems, targeting market segments driven by long-term trends, regulatory changes, and technological advancements[20]. - The introduction of LUMEMS, a patented electronic control unit for automotive lighting, aims to enhance driving comfort and safety[22]. Risk Management - The company faces significant risks from global economic instability, trade issues, and industry dynamics, which could adversely affect product demand and financial performance[121]. - The company aims to mitigate risks by diversifying its customer and product portfolio through internal development and acquisitions, reducing the impact of economic downturns[124]. - The group aims to mitigate risks associated with supply chain disruptions by ensuring supplier continuity, quality, and reliability[131]. - The company has hedged foreign exchange risks through various forward contracts, including selling euros and Canadian dollars[104]. Corporate Governance - The board conducts annual performance evaluations to ensure effective operations and implements suggestions for improvement[165]. - The Audit Committee held four meetings during the fiscal year 18/19 to review financial statements and ensure compliance with accounting standards[168]. - The company emphasizes the importance of internal audit and risk management processes in its operations[168]. - The board's composition includes independent non-executive directors to ensure governance and oversight[166]. - The company has established a whistleblowing hotline for employees to report unethical behavior without fear of retaliation[178]. Employee Engagement and Development - The company employs over 38,000 personnel across 23 countries in Asia, Europe, the Middle East, North America, and South America[12]. - Employees received over 224,000 hours of training in the fiscal year 18/19, excluding on-the-job experience[146]. - The group’s global learning platform offers over 300 courses for employees, promoting a culture of continuous learning[146]. - The company emphasizes a rigorous supplier qualification review process, ensuring suppliers meet international standards such as ISO9001 and ISO14001[139]. - The company has awarded over 1,100 employees for embodying the MARBLE values since 2014, with 260 awards given in the fiscal year 2018/19[143].