February 22, 2024

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Autoliv posts Q1 net sales up 21{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade} to US$2.2bn | Automotive Industry News

Autoliv has recorded first-quarter internet revenue up 21{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade} to US$two.24bn, although functioning cash flow rose seventy seven{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade} to US$237m.

“The COVID-19 pandemic is nevertheless impacting us in numerous approaches and our first precedence remains the well being and basic safety of our staff members,” mentioned Autoliv president & CEO, Mikael Bratt.

“The sector is encountering adverse enterprise consequences, with a offer-demand from customers imbalance of sure enter supplies these kinds of as steel, chemical compounds and semiconductors. Short-term shortages of these supplies confined the mild car or truck manufacturing in the first quarter, and we be expecting this condition to proceed in the second and third quarter of this calendar year.

“In this tough surroundings, I am very pleased the Autoliv organisation delivered a sturdy first quarter overall performance the place we observed higher revenue growth and a major advancement in profitability compared to the first quarter in both equally 2020 and 2019.

“I am also delighted we continued to produce a sturdy income flow, that our internet financial debt declined furtherĀ and our leverage ratio is now back within our goal vary. Our progress in the previous handful of quarters strengthens our assurance in the journey in the direction of our medium-term targets and our opportunities to develop shareholder benefit.”

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https://www.autoliv.com/information-and-media/press-releases?web site=/perma/press/1909408

Initial source: https://www.autoliv.com/information-and-media/press-releases?web site=/perma/press/1909408