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Autoliv Boosts Quarterly Net Profit 47%
Safety systems supplier Autoliv Inc. posted an operating income of $217 million in October-December compared with $203 million in the same period of 2013.
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Safety systems supplier Autoliv Inc. posted an operating income of $217 million in October-December compared with $203 million in the same period of 2013. Net income surged 47% to $148 million.
Fourth-quarter revenue was unchanged at $2.4 billion. A 40% jump in demand for Autoliv's active safety products offset small reductions in quarterly airbag and seatbelt sales.
Full-year consolidated sales rose 5% to $9.2 billion on gains in airbags (5%), seatbelts (1%) and active safety (42%). Operating income fell 5% to $723 million, and net profit dropped 4% to $469 million.
This year Autoliv has restructured operations into two segments: passive safety and electronics. It aims to achieve annual sales of $2 billion in the latter category by 2018, with half the total coming from active safety technology, such as radar and sensors. Last year the company's active-safety sales totaled $489 million.
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