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Visteon Corporation: A Technology-Focused Supplier of Vehicle Cockpit Electronics
April 2016
Our Vision:A top-three cockpit electronics player delivering a rich, connected cockpit experience for every car from luxury to entry.
Our Mission:To be the foremost leader in driver information and connected infotainment solutions that enables a rich driving experience in a safe and convenient manner. We will achieve this through relentless pursuit of excellence in electronics and software technology as well as global execution.
Page 2
Markus SchupfnerChief Technology Officer
Matthew ColeProduct Development
Page 3
Visteon Leadership
Sachin LawandePresident & CEO
Bob SwanstonQuality Director
Sunil BilolikarOperations
& Procurement
Bob VallanceCustomer
Business Groups
Tim YerdonMarketing and
Communications
Francis M. ScriccoChairman
Duncan H. Cocroft Jeffrey D. Jones Sachin Lawande
Joanne M. Maguire Robert J. Manzo David L. Treadwell
Harry J. Wilson Rouzbeh Yassini-Fard George Yuen
Board of Directors
Proven Leadership Team Committed to Sustainable Growth and InnovationProven Leadership Team Committed to Sustainable Growth and Innovation
Bill RobertsonInterim Chief
Financial Officer
Brett PynnonenGeneral Counsel
Executive Management
Visteon’s Transformation: 2000-2016
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$18B multi-product conglomerate supplier spun off from Ford
Transferred 23 U.S. plants to Ford
Restructuring Plan
Chapter 11 Reorganization
YanfengElectronics
Consolidation
JCI ElectronicsAcquisition
Interiors Divestiture
Global Climate Equity Sale
Visteon Now a $3.25 Billion Technology-Focused Supplier of Cockpit Electronics Visteon Now a $3.25 Billion Technology-Focused Supplier of Cockpit Electronics
LightingDivestiture
Yanfeng Interiors Equity Sale
2000
2005
2006-2008
2009-20102012
2014 20152013
Signed agreement to acquire
AllGo Systems
2016
Visteon signed an agreement to acquire automotive assets of AllGo Embedded Systems Private Ltd., a leading developer of embedded multimedia solutions – closing expected in first half 2016
AllGo background:– Headquartered in Bangalore, India, with sales
presence in the U.S., Asia Pacific and Europe– Comprehensive intellectual property portfolio of
in-vehicle-infotainment, media and connectivity solutions
– Diverse customer base– ~140 employees, vast majority engineers
Acquisition key to accelerating Visteon’s innovation of automotive infotainment solutions that improve the connected driving experience
CarPlay USB HUBRACE MME
Audio and Video CodecsADAS
Acquisition – Automotive Multimedia Systems Supplier
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AllGo Acquisition Adds Greater Scale and Depthto Visteon's Infotainment Software Capabilities
AllGo Acquisition Adds Greater Scale and Depthto Visteon's Infotainment Software Capabilities
Enables
Visteon at a Glance
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MANUFACTURING LOCATIONS22
11,000 EMPLOYEES
18 COUNTRIES
TECHNICAL CENTERS17
$3.25B 2015 ANNUAL SALES
As of April 2016
Leading Portfolio and Expertise, Global Footprint, Strong Balance Sheet Leading Portfolio and Expertise, Global Footprint, Strong Balance Sheet
COMPANY HEADQUARTERSVan Buren Township,
Michigan, United States
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A Solid Customer Base
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SAIC-GM Chevrolet SailInfotainment System
BMW 7-SeriesInstrument Cluster
Ford FiestaCenter Information Display
Honda PilotInstrument Cluster
Mazda 2Infotainment System, Center
Information Display
Ford F-150Instrument Cluster
Mercedes Benz VitoInstrument Cluster
Mahindra W207 SUVInfotainment
Hyundai TucsonInstrument Cluster
59 Product Launches During 2015, with 17 Launches in Fourth Quarter 201559 Product Launches During 2015, with 17 Launches in Fourth Quarter 2015
Jaguar XJInstrument Cluster
Acura ILXTelematics
Infiniti Q30Cockpit Media Input Box
Ford Everest/RangerAudio Head Unit
Chevrolet CamaroInstrument Cluster
Renault MeganeAudio Silver Box,
Instrument Cluster
Jaguar X760Instrument Cluster
2015 Key Product Launches
Geely EmgrandClimate Control Head
Full-Year 2015 Highlights – A Strong Year
Page 9
Electronics product group and corporate costs only
Balanced Sales Profile
Diverse Product, Regional and Customer Sales ProfileDiverse Product, Regional and Customer Sales Profile
Page 10
Sales breakdown based on Visteon manufacturing
facility region
Sales breakdown based on OEM headquarter region
Sales breakdown based on product
Sales byMfg. Region
Sales byCustomer
Sales byProduct
Visteon Electronics FY 2015 Sales BreakdownVisteon Electronics FY 2015 Sales Breakdown
Asia37%
Europe32%
North America29%
South America
2% Mazda17%
Nissan8%
Honda 4%
Mitsubishi 2%
Other Asia 6%
Renault6%
JLR4%
PSA4%
Daimler 4%
BMW 4%
VW 3%
Ford31%
GM7%
38%
25%
37%
Instrument Clusters36%
Information Displays19%
Infotainment12%
AudioSystems
10%
Telematic Solutions8%
Other15%
Ford26%
GM15%
Mazda 13%Renault / Nissan11%
China OEMs7%
BMW 5%
VW 5%
PSA 5%JLR 4%Daimler 3%
Other6%
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New Business Wins – 2015 Full-Year Results
Visteon Won $1.35 Billion in New, Rewin, and Extension Business During 2015 –Equating to $4.3 Billion in Lifetime Revenue
Visteon Won $1.35 Billion in New, Rewin, and Extension Business During 2015 –Equating to $4.3 Billion in Lifetime Revenue
Consolidated New Business WinsConsolidated New Business Wins $4.3 Billion New Business Wins Breakdown (FY 2015)
$4.3 Billion New Business Wins Breakdown (FY 2015)
Lifetime Revenue
(Dollars in Billions)
$0.6
$1.3$1.35
FY 2013Actual
FY 2014Actual
FY 2015Actual
Average Annual
Lifetime Revenue $4.3Memo:
N/A N/A
(1)
(1) Excludes ex-JCI business.
Instrument Cluster
39%
Infotainment19%
Audio 18%
Non-Core11%
Display 10%
Connectivity & Telematics
2%HUD1%
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China Full-Year 2015 Highlights
We Project Visteon China Sales to Outpace the Overall China MarketWe Project Visteon China Sales to Outpace the Overall China Market
Visteon in China OverviewVisteon in China Overview China Production vs. Visteon China SalesChina Production vs. Visteon China Sales
Please see appendix for important disclosures regarding “Forward-Looking Information”
Winning New Business in ChinaWinning New Business in China Long-Term Production Volume Forecast (1)Long-Term Production Volume Forecast (1)
22.9 24.0
FY 2014 FY 2015
(Dollars and Units in Millions)
24.0 25.3 26.2 27.3 28.8
2015 2016 2017 2018 2019
FY 2015
China New Wins (Annual) $275% of Global Visteon Wins 20%
Memo: Lifetime Revenue $1,075
# of Product LaunchesChina Product Launches 20
$579$683
FY 2014 FY 2015
(1) Source: IHS Automotive, February 2016 Forecast. Represents light vehicles only. (2) 2014 includes only two quarters of SVAE sales ($104 million in H2 2014). SVAE was acquired on July 1, 2014 as part of the JCI Electronics acquisition.
Joint Ventures with “Big Four” Chinese manufacturers– SAIC, DongFeng, FAW, ChangAn
~$1.2 billion in total sales in 2015— $683 million consolidated sales
•~$400 million exported to non-China locations•~$300 million of domestic China sales
— ~$500 million of unconsolidated JV sales
2016 China production volumes forecasted to grow 5.4%– 5% change in China market will change Visteon sales
by ~$15 million and EBITDA by ~$4 million
China ProductionVolumes (1)
Visteon China Consol. Sales (2)
Visteon 2015 China sales up
18% Y/Y, significantly higher than
overall market, driven by SVAE acquisition on
July 1, 2014
China
ShanghaiXuzhou
Changchun
ChongqingShaoxing
Nanjing
China Footprint
• Yanfeng Visteon China Technical Center• Shanghai Visteon Electronics Technology Co., Ltd.• Anyo Pioneer Motor Information Technology Co., Ltd• Yanfeng Visteon Electronics Technology (Nanjing) Co., Ltd
Manufacturing Plants
Major Technical Centers
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• Visteon Asia Pacific Corporate Office (Shanghai)
Customer Service Centers
• 10 manufacturing facilities
• 1 customer service centers
• Engineering capability at 4 major technical centers
* All Visteon Asia Pacific operations are either Visteon wholly owned or through joint ventures
Changchun x2 * •Changchun FAW Yanfeng Visteon Electronics•Changchun Visteon FAWAY Automotive Electronics
Chongqing x3 *•Yanfeng Visteon (Chongqing) Automotive Electronics Co., Ltd •Chongqing Changan Visteon Engine Control Systems •Visteon Automotive Electronics (Chongqing) Co., Ltd
Shaoxing x2 *•Yanfeng Visteon Betung Automotive Instrumentation•Zhejiang Shaohong Instrument
Shanghai x2 *•Yanfeng Visteon Electronics •Shanghai Visteon Automotive Electronics
Xuzhou *•Jiangsu Toppower Automotive Electronics
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Recent Recognition in China
Customers Continue to Recognize Visteon for Our Technologies and InnovationsCustomers Continue to Recognize Visteon for Our Technologies and Innovations
Shanghai General Motors’ Excellent Supplier and Service Supplier Awards
Dongfeng Peugeot Citroen Automotive Company Best Supplier Awards
Shanghai Automotive Industry Corporation’s Excellent Innovation Supplier and Excellent Supplier Awards
Chang’an Mazda Automobile’s QC Improvement Achievement & Excellent Supplier Awards
Jiangling Motor Corp Landwind Excellent Supplier Award
FAW Excellent Supplier Award
InstrumentClusters
Head-Up DisplaysTelematics
Cockpit Domain Controllers
InformationDisplays
AudioInfotainment
Singularly Focused on Cockpit Electronics
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One of the largest cockpit electronics suppliers – and only one focused on electronics One of the largest cockpit electronics suppliers – and only one focused on electronics
Automotive Electronics Satisfaction Drivers
Page 16 Source: JD Power.
Entertainment and
Connectivity(Infotainment)
29%
DriverInformation
21%Navigation15%
Comfort andConvenience
26%
ADAS* 9%
Infotainment• Android Auto / Apple CarPlay• Radio• Rear Seat Entertainment
Five Key Cockpit Electronics Segments Drive Consumers’ Satisfaction with Vehicles –Visteon is Well Positioned to Deliver Value to Consumers as a Leader in 4 of the 5
Five Key Cockpit Electronics Segments Drive Consumers’ Satisfaction with Vehicles –Visteon is Well Positioned to Deliver Value to Consumers as a Leader in 4 of the 5
Impact on Satisfaction from In-Vehicle TechnologyAligns with Key Visteon Products
* Advanced Driver Assistance Systems
Driver Information• Head-Up Displays• Instrument Clusters
Navigation• Factory Installed Navigation• Smartphone Navigation Vehicle Interface
Comfort and Convenience• Climate Controls• Customization /
Personalization• Touch Screen Display
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Key Trends Impacting Auto Electronics
Three Key Mega-Trends Expected to Drive Significant Changes in the Automotive IndustryThree Key Mega-Trends Expected to Drive Significant Changes in the Automotive Industry
75% of new cars connected by 2020
Embedded 3G/4G connectivity Wider acceptance of CarPlay
& Android Auto solutions Demand for connected
infotainment solutions
Near-TermNear-Term Mid-TermMid-Term Long-TermLong-Term
100% of new cars connected 4G/5G embedded connectivity Vehicle as mobile application
platform Increased number & quality of
displays Increased number of 3rd party
apps
Seamless connectivity between Car & Cloud
Integrated traffic & vehicle management solutions
Integration with autonomous driving technology
2015-2020 2020-2025 2025-2030
Sensor-specific solutions for ADAS
RADAR/Camera technologies Emerging low-cost LIDAR
sensors V2X technology maturation
Semi-autonomous driving on highways & clearly marked roads
Multi-sensor fusion & computing software platforms
5-10% of new cars capable of semi-autonomous driving
Full autonomous driving technology available
10-20% of new cars capable of autonomous driving
Emerging car sharing & ride sharing services
Car & ride sharing become prevalent
Sharing model starts to impact global vehicle sales
Shared vehicles start to replace owned vehicles
20% of vehicles use shared model
Connected Car
Autonomous Driving
Shared Mobility
Instrument Clusters
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Strengths Visteon is #3 in the market Strong presence in all segments,
including motorcycles Wide range of display technologies and
graphics capabilities
Conti26%
Denso17%
Visteon16%
Nippon Seiki10%
Marelli 7%Yazaki
6%Delphi
5%
Bosch4%
Other6%
2015 Market Share
Head-Up Displays
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Strengths First to market with combiner HUD in
2009 Reusable picture generating unit (PGU)
/ kinematics modules Augmented reality optical solutions
Nippon Seiki47%
Conti19%
Denso15% Visteon
6%
Bosch5%
Yazaki3%
Alps3%
Pioneer1%
JVC1%
2015 Market Share
Information Displays
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2015 Market Share
Strengths Visteon is #1 in the market Design for high-speed interface among
display, touch sensor and vehicle network Thin profile optically bonded flat/curved
lens with multi-touch
Visteon26%
Conti15%
Bosch7%Sharp
5%
Desay4%
Innolux 4%
Sanyo 4%
Kyocera 3%
Alpine 3%
Marelli 3%
Valeo 3%
Other23%
Infotainment
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Strengths System architecture engineered to
adapt to new consumer electronics features and technology
Deliver connected automotive HMI expertise through a multi-modal interface
Layered end-to-end security
Harman13%
Alpine10%
Bosch9%
Mitsubishi7%
Denso7%
Ford6%
Mobis6%
Aisin5%
Clarion5%
Conti4%
Panasonic3%
TomTom3%
Marelli3%
LG3%
Visteon3%
Other13%
2015 Market Share
SmartCoreTM
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Strengths Industry-first automotive grade cockpit
domain controller solution In-house development of hypervisor
technology Opportunity to save $175* in total cost
of ownership per vehicle for mid-range cockpit ECUs
* Source: RolandBerger Consolidation in Vehicle Electronic Architectures, July 2015.
Head-Up Display (HUD)
Advanced Driver Assistance Systems (ADAS)
Infotainment
Instrument Cluster
Four Separate Systems
1234
1 23 4
Focused on Three Strategic Imperatives –Strengthen the Core, Move Selectively to Adjacent Products, Deliver Cost Efficiencies
Focused on Three Strategic Imperatives –Strengthen the Core, Move Selectively to Adjacent Products, Deliver Cost Efficiencies
Strategic Imperatives
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AudioHead-Up DisplaysInformation DisplaysInfotainmentInstrument ClustersTelematics
Cockpit DomainControllers (SmartCoreTM)Next Generation Safety
Applications (e.g. V2X / V2V)Vehicle Cyber Security
Drive to 12% EBITDA MarginAchieve SG&A and
Engineering EfficienciesImprove Free Cash FlowOptimize Capital
Structure
Strengthenthe Core
Move Selectively to Adjacent Products
Deliver CostEfficiencies
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www.visteon.com