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Autoliv’s Operating Income Jumps 50%
Autoliv Inc. says unfavorable exchange rates caused sales in the second quarter to shrink 4% to $2.9 billion.
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Autoliv Inc. says unfavorable exchange rates caused sales in the second quarter to shrink 4% to $2.9 billion. But operating income for the period zoomed to $209 million from $139 million in the same period last year, and net income surged 64% to $137 million.
The safety systems supplier says organic sales for April-June rose 6%. The company's adjusted quarterly operating margin rose to 9.5% from 9.3%.
Autoliv expects organic sales growth in July-September in excess of 7% and full-year organic growth of more than 6%. The company cautions that unfavorable exchange rates will shrink consolidated sales by about 2% in 2015.
Autoliv expects to produce roughly 20 million replacement airbag inflators, almost all linked to global recalls of vehicles equipped with potentially defective Takata Corp. inflators. Most units will be delivered in 2015 and 2016.
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