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Veoneer says returned to organic sales growth in fourth quarter, to accelerate in 2021

Reuters
·1-min read

STOCKHOLM (Reuters) - Automotive technology group Veoneer expects to have returned to organic sales growth in the fourth quarter of 2020 and sees growth accelerating in 2021, it said in a statement on Thursday.

The Swedish maker of vision systems, radar and software for advanced driver-assistance systems (ADAS) also said it estimated the current value of its order book for 2020 at approximately $14 billion.

The company said its new order intake for 2020 corresponded to an average annual value of around $530 million, of which 65% from active safety products.

Veoneer said it estimated its share of active safety orders for 2020 to be around 15%, above its current market share by sales.

(Reporting by Johannes Hellstrom; Editing by Simon Johnson)