Veoneer has posted fourth-quarter net sales of US$455m.

For full-year 2021, the supplier is forecasting organic sales growth year-on-year to exceed 25%.

“The fourth quarter saw an unfortunate resurgence of the COVID-19 pandemic,” said Veoneer chairman, president and CEO, Jan Carlson. “We continue to put the health and safety of our people first, reinforcing our measures that were first put in place in the beginning of the pandemic and we believe the global efforts and vaccinations that have now started will allow the situation to gradually improve throughout 2021.

“In the fourth quarter of 2020, Veoneer saw organic growth for the first time, a pivotal moment for the company. The strong growth was driven by new launches and a stronger development of the light vehicle production than anticipated in the beginning of the quarter.

“We further continued our strong focus on efficiencies and financial management, which allowed us to finish the year in a stronger cash position than anticipated. Despite some initial additional launch related costs, our ability to deliver new products and technologies to recently launched vehicle platforms in the current uncertain environment was an outstanding achievement.

“I would like to sincerely thank everyone in Veoneer for coming together as one team and really delivering above and beyond expectations.”