Veoneer estimates its current total order book value for full-year 2020 to be around US$14bn.
During 2020, Veoneer divested its brake control business with an estimated order book value of around US$4bn, which is excluded from the current estimate.
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Reductions in expectations for the global light vehicle production until 2025, further reduced the order book estimate by around US$1bn compared to the estimate from one year ago.
Lifetime value of the new order intake for the full year 2020, is estimated to be approximately US$2.6bn, corresponding to an average annual new order intake value of around US$530m, of which around 65% is for Active Safety orders. Despite the generally lower order activity in the market resulting from the COVID-19 pandemic, this new order intake value represents an increase of around 10% compared to the 2019 new order intake.
Veoneer estimates its share of Active Safety orders for 2020 to be around 15%, which is above its current sales market share. Due to the COVID-19 pandemic, the supplier further estimates the total Active Safety sourcing for 2020 was reduced by more than 40% compared to expectations at the beginning of 2020.
As previously communicated, Veoneer expects to report a return to organic sales growth in the fourth quarter of 2020 and a return to growth over the market for the second half of 2020. It also expects organic sales growth to accelerate in 2021.
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By GlobalDataVeoneer earnings report for the fourth quarter of 2020 is currently planned for 3 February, 2021.
