STOCKHOLM (Reuters) – Sweden’s Autoliv, the world’s largest maker of airbags and seatbelts, on Friday reported a first-quarter operating profit below market expectations but forecast 2019 organic sales growth and margins above analysts’ consensus.
The company, which competes with Joyson Safety Systems and ZF TRW, reported a quarterly operating profit of $173 million, down from 243 million a year earlier and lagging a $212 million forecast in a poll of analysts.
Autoliv forecast full-year organic growth of 5 percent and an adjusted operating margin of 10.5 percent, above the mean analysts forecast for 4.2 percent and 10.3 percent respectively.
Reporting by Johannes Hellstrom; editing by Niklas Pollard
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