Autoliv Q2 net income drops 12.5% y/y to USD129.8 million

Expects organic sales growth in range of 0 to 2% in third quarter

Autoliv’s net income declined 12.5% year-of-year (y/y) to USD129.8 million in the second quarter ended 30 June 2017, the company said in a press release on 21 July. The company reported decline in net income as sales slipped 1.3% y/y to USD2.54 billion. Autoliv recorded a slight (0.2%) growth in organic sales in the quarter, but negative currency translations of 1.5% caused a net decline in sales compared with a year earlier. Despite marginal decline in sales, Autoliv recorded 1.7% y/y growth in operating income to USD216.4 million and 30 basis points increase in operating margin to 8.5%.