TRW Automotive Holdings, which specialises in auto safety systems, booked full year 2010 net profit of US$834m on sales up 24% year on year to $14.4bn.
Fourth quarter sales rose 10% to $3.7bn and net profit was $204m versus $141m in Q4 2009.
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“Strong revenue growth combined with the company’s low cost structure resulted in record 2010 [profit],” TRW said in a statement.
TRW expects 2011 industry production volumes of about 12.7m units in North America and 18.7m units in Europe, up 7% and flat, respectively, compared to 2010, and growth in China and elsewhere.
Full year 2011 sales are expected to range between $14.9bn and $15.3bn, with first quarter sales expected to be approximately $3.9bn.
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