STOCKHOLM, July 18 (Reuters) - Sweden's Autoliv ( ALV )
raised its full-year sales guidance on Friday and
said it had compensated for most of its tariff related costs in
the second quarter, as it reported a profit for the period that
matched expectations.
Adjusted operating profit at the world's largest maker of
airbags and seatbelts grew to $251 million from a year-earlier
$221 million, in line a mean forecast in a poll of analysts
provided by Autoliv ( ALV ), on organic sales growth of 3%.
"We recovered around 80% of tariff costs in the second
quarter, and we expect to recover most of what remains later in
the year," CEO Mikael Bratt said.
"We remain confident that we can continue to
successfully receive compensation from our customers for
tariffs, although the industry outlook for tariffs is
uncertain," he said.
Pointing to these tariff compensations, Autoliv ( ALV ) said it
now sees organic sales growth this year of around 3%. Its
previous forecast, last reiterated in April, was for 2%.