Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Veoneer sees operating result improvement in second-half vs first-half

Euronews logo
Text size Aa Aa

STOCKHOLM (Reuters) – Swedish auto technology group Veoneer <VNE.N> <VNEsdb.ST> on Friday reported a quarterly operating loss in line with analysts’ forecasts, and said results had been slightly better than its internal expectations.

The company, which was spun-off from airbag maker Autoliv <ALIVsdb.ST> <ALV.N> last summer, said its quarterly operating loss rose to $137 million (£110.14 million) from 48 million a year-earlier, in line with the mean analysts’ forecast according to data from Refinitiv.

Veoneer said it expected an operating loss improvement during the second half of the year versus the first half, while still seeing a steeper organic sales decline for the full year than previously forecast.

Veoneer shares rose 9.7% following the earnings release.

(Reporting by Johannes Hellstrom, Editing by Helena Soderpalm)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.