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Automotive fluid system maker TI Fluid Systems said it expected to report a rise in annual revenue of about 5% despite encountering supply chain challenges.
Revenue for the year through December was expected to be around €2.95 billion, the company said in a trading update, without providing a comparative figure.
For 2020, TI Fluid Systems reported annual revenue of €2.81 billion.
The company said it expected its results to 'reflect its robust financial performance' despite market headwinds outlined in November that included microchip shortages and supply chain disruptions.
On a constant currency basis, revenue growth was expected exceed global light vehicle production growth by about 3%, it added. Its adjusted operating margin would be at, or slightly above, 7%, as expected.