Supplier Autoliv said first quarter 2023 sales rose 17% year on year to US$2,493m for a 5.3% adjusted operating margin and an EPS fall of 9% to $0.86.
Operating income fell 5.4% to $127m from $134m.
“We outperformed significantly in all regions, mainly due to new product launches and higher prices,” Autoliv said in a statement.
“Adjusted operating income improved from $68m to $131m and adjusted operating margin increased from 3.2% to 5.3%, despite inflationary pressure, volatile light vehicle productio and adverse FX effects.”
For full year 2023, the supplier forecast around 15% organic sales growth and 8.5%-9% adjusted operating margin.
Mikael Bratt, president & CEO, said: “The operating environment in the first quarter was, as expected, challenging, especially in Europe.
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