Q1 2019 TI Fluid Systems PLC Corporate Sales Call Transcript
Good day, and welcome to the TI Fluid Systems plc first quarter trading statement call. Today's conference is being recorded. At this time, I would like to turn the conference over to Tim Knutson. Please go ahead, sir.
Good morning, everyone. Thank you for joining us today for our first quarter 2019 trading update conference call. I'm Tim Knutson, CFO of TI Fluid Systems, and I am joined today by our CEO and President, Bill Kozyra. I'm sure you have all seen the trading update we released this morning. Before Bill and I take your questions, I wanted to highlight a few items from the statement.
The group achieved solid revenue of EUR 850 million in the first quarter. The first quarter experienced lower global vehicle production growth rates, with a particularly challenging environment in China. Global vehicle production declined by 6.7% in the first quarter, and our revenue decreased by 4.8% year-over-year at constant currency. This represents outperformance of 1.9%.
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