The vehicle safety company Autoliv reports an operating profit of 206 million dollars, equivalent to 2.2 billion kronor, for the second quarter of the year. This can be compared to the profit of 94 million dollars during the corresponding quarter last year.
The adjusted operating result increased by 4.4 percent to 221 million dollars or 1.87 dollars per share. This was worse than expected. Analysts had on average expected an adjusted profit per share of 2.25 dollars.
The share price fell by almost 10 percent on the Stockholm Stock Exchange after the presentation of the figures.
Sales revenue decreased by 1.1 percent to 2.6 billion dollars. Expectations had been for 2.7 billion.
"Sales were lower than expected, which affected the quarter's profitability with an operating leverage in the upper part of our normal range of 20-30 percent. The result was primarily improved due to cost reductions and higher prices," Autoliv writes in the report.
Lower vehicle production is pointed out as an explanation for the sales headwind.
