Nexteer Automotive has reported annual results for its fiscal year ended December 31. Nexteer reported 2021 revenue of $3.359 billion which represented a 10.8% increase when compared with 2020. Nexteer reported full year 2021 operating profit of $115.2 million and net profit attributable to equity holders of 2021 was $118.4 million, which was 1.4% higher when compared with a year ago.
Guibin Zhao, CEO of Nexteer Automotive, said “In 2021, we remained committed to our strategy for profitable growth and continued expanding and diversifying our revenue base. Our proven strategy served as a guide in navigating 2021’s challenges including the global semiconductor supply shortage, commodity inflation, logistics challenges and continuing COVID-19 impact.”
While navigating the significant environmental challenges of 2021, Nexteer continued to successfully launch new customer programs driving revenue growth.