Lear Corp at Wolfe Research Global Auto, Auto Tech, and Mobility Conference Transcript
On time. Next session is with management of Lear. Lear as all of you know, is a $21 billion supplier. About 75% of their sales are derived from automotive seating where they capture about 25% of the global market. So 1 out of every 4 vehicles, you see anywhere in the world has Lear seats. Over time, that division expects to generate roughly 4% growth over market.
25% of this company's sales come from their E-Systems division, which produces wire harnesses, terminals and connectors that division is expected to achieve something like 6% growth over market over time with a lot of that growth being propelled by vehicle electrification.
They just concluded was obviously a very challenging year, actually a challenging couple of years, but where they face massive commodity inflation, which was a 60 basis points of traction from margins in their Seating business, 170 basis points in E-Systems, yet for the full year, overall EBIT grew for this company and the margin was pretty flat despite some pretty meaningful headwinds.
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