Electrification Market Share Goal
2023 Financial Outlook (as of November 3, 2023)
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Full Year Sales
Adjusted EBITDA
Adjusted Free Cash Flow
2023 Financial Targets
$6.0 to $6.1 billion
$660 to $685 million
$200 to $215 million
BRINGING THE FUTURE
AAM FASTER
These targets are based on AAM's production estimates of key programs that we support and the current.
operating environment.
Adjusted Free Cash Flow target assumes capital spending in the range of 3.0% -3.5% of sales.
These targets assume production begins to resume during the first week of November from the UAW work
stoppage and an estimated work stoppage impact of $70 - $100 million in sales and $25 - $40 million in
adjusted EBITDA.
AAM expects restructuring and acquisition-related cash payments to be between $20 and $30 million.
Note: For definitions of Adjusted EBITDA and Adjusted Free Cash Flow and Non-GAAP reconciliations, please see the attached appendix
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