STOCKHOLM, April 28 Autoliv
, the world's biggest maker of airbags and
seatbelts, reported a bigger-than-expected rise in quarterly
earnings but flagged uncertainty about global vehicle production
ahead, sending its shares slightly lower.
The Stockholm-based auto safety gear maker said first
quarter operating profit rose to $218 million from a year-ago
$205 million to come in ahead of a mean forecast of $206 million
in a Reuters poll of analysts.
The company kept unchanged its outlook for the full year but
forecast like-for-like sales growth would slow in the second
quarter compared to the first while it struck a note of caution
about global light vehicle production.
"Light vehicle production grew by almost 6 percent in the
quarter, with growth in all regions," the company said.
"However, we currently see some uncertainties relating to
light vehicle production growth, including high inventory levels
and slower sales momentum, especially in North America and
Autoliv shares are down 10 percent this year compared with a
9 percent rise in the broader Stockholm stock market.
Worries over increased investments at the group and the
outlook for car markets in China and the United States have
weighed on the stock which fell 0.9 percent on the day by 1026
(Reporting by Johannes Hellstrom; Editing by Niklas Pollard)