Updated 2016-01-29 13:05. Published 2016-01-29 12:06
car safety company Autoliv unveiled on Friday a report for the fourth quarter of 2015 that beat expectations. The projected sales growth for 2016 was considerably lower than expectations and its shares fall by nearly 8 percent.
Autoliv’s fourth quarter was consistently better than analysts’ expectations, according to SME Direkt. Profit before tax ended at $ 265 million, corresponding to SEK 2.3 billion, which was 11 percent above analysts’ forecasts. The operating margin was 11.2 percent, which was 1 percentage point higher than expected.
Sales landed at $ 2.52 billion which also beat analysts’ forecast of $ 2.453 billion. In 2016, the company expects to make major future investments to maintain its position in car safety.
“We plan record investment in R & D in the upper part of the range of 6-6.5 percent of sales, all for us to be at the forefront of the rapid development, “the company’s CEO Jan Carlson in this report.
Autoliv’s organic growth for active safety systems rose 29 , 1 percent in the fourth quarter, compared with 36 percent in the third quarter of 2015th
A blot on report protocol, however, the outlook for 2016. The company traces an organic sales growth for the full year 2016 at 5 percent. Then the expected currency translation effects have a negative effect of 3 percent and the increase of total sales, lands thus of greater than 2 percent for the full year 2016 expected, the sales growth of 11.1 percent, according to SME Direkt.
Despite the strong figures for the fourth quarter of 2015 was received the report with acidic minder of the market. Shortly before 13, the stock had fallen by 7.6 percent.
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