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Although we believe forward-looking statements are based upon reasonable assumptions, such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results or performance of Garrett to be materially different from any future results or performance expressed or implied by such forward-looking statements. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements including without limitation our statements regarding the impact of the COVID-19 pandemic on Garrett's business, financial results and financial conditions, industry trends, Garrett's strategy, Garrett's capital structure following emergence from the Chapter 11 process, and Garrett's outlook for 2021. This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. We continue to focus on enhancing Garrett's capital structure, and intend to pursue new growth opportunities in electrification that leverage our differentiated technologies and advanced in-house capabilities for the long-term benefit of shareholders."
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We also increased our financial flexibility by amending our Series B Preferred Stock under favorable terms with the aim of beginning to normalize and further deleverage our balance sheet. Our Adjusted EBITDA margin in the quarter improved year-over-year to 16.0% as we capitalized on a favorable sales mix and maintained disciplined productivity management, both internally and with our supply base. "Although Q3 volumes were impacted by the ongoing chip shortage, we outperformed global auto production in the quarter by approximately 19 percentage points.
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"Our financial results for the third quarter demonstrate Garrett's resilience by delivering reported net sales growth and preserving an attractive margin profile in a challenging macro environment," said Olivier Rabiller, Garrett President and CEO.