Autoliv reported record first quarter sales of US$2.18bn, an increase of 3%, and an operating margin of 7%, including a $14.5m provision for estimated fines to resolve the US antitrust investigation the supplier is facing.
Operating income fell $102m to $153m, due mainly to higher costs for capacity changes, raw materials and R&D expenses. Income before taxes was $141m, net income $101m and earnings per share $1.07.
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The company expects full year consolidated sales up 4%, and operating margin of 10-11%, excluding one-off costs.
