July 27, 2018 / 9:34 AM / 19 days ago

Sweden's Veoneer says it sees increased customer activity

STOCKHOLM, July 27 (Reuters) - Swedish electronic car products maker Veoneer, which was spun off airbags maker Autoliv this month, said on Friday order intake was strong in the second quarter.

It repeated targets for 2020 and 2022 and said it was seeing a trend of “increasing customer activity” across geographies and its products, and that take-up rates were potentially higher for active safety products.

Organic sales for the product category active safety grew 11 percent in the quarter, while overall order intake over the past 12 months was about $1.1 billion.

Operating loss widened to $48 million in the quarter from $12 million a year ago, missing an estimated $31.6 million loss in a Reuters poll of analysts.

Reporting by Esha Vaish and Johannes Hellstrom in Stockholm

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