Autoliv has recorded initially-quarter web income up 21% to US$two.24bn, though operating revenue rose 77% to US$237m.
“The COVID-19 pandemic is still impacting us in quite a few methods and our initially priority stays the health and fitness and safety of our personnel,” claimed Autoliv president & CEO, Mikael Bratt.
“The sector is suffering from adverse enterprise consequences, with a offer-demand from customers imbalance of selected enter components this sort of as steel, chemicals and semiconductors. Momentary shortages of these components limited the gentle car production in the initially quarter, and we anticipate this problem to proceed in the next and third quarter of this calendar year.
“In this hard atmosphere, I am happy the Autoliv organisation shipped a solid initially quarter general performance where by we observed higher income advancement and a considerable improvement in profitability when compared to the initially quarter in the two 2020 and 2019.
“I am also pleased we ongoing to deliver a solid income stream, that our web credit card debt declined further and our leverage ratio is now back again inside of our concentrate on vary. Our progress in the earlier several quarters strengthens our self esteem in the journey toward our medium-expression targets and our options to generate shareholder worth.”
Exhibit the push launch
Primary source: https://www.autoliv.com/information-and-media/push-releases?webpage=/perma/push/1909408