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Autoliv slashes full-year outlook after quarterly profit slide

Published 19/07/2019, 11:18
Updated 19/07/2019, 11:21
© Reuters.  Autoliv slashes full-year outlook after quarterly profit slide

STOCKHOLM (Reuters) - Sweden's Autoliv (ST:ALIVsdb) (N:ALV) cut its 2019 organic sales growth outlook on Friday, as the car safety equipment maker became the latest casualty of a deteriorating auto industry to report a quarterly earnings miss.

The world's largest maker of airbags and seatbelts forecast organic sales growth of 1% to 3% for 2019 and an adjusted operating margin of 9.0% to 9.5%, compared to its previous expectations of around 5% and about 10.5% respectively.

Autoliv, which competes with Joyson Safety Systems and ZF TRW, reported a fall in second-quarter operating profit to $170 million (£135.77 million) from $229 million a year ago. Analysts on an average had expected $199 million according to Refinitiv data.

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