STOCKHOLM -- Autoliv said its first-quarter operating profit rose 3.2 percent to $225 million from $218 million, and said it would not deliver financial guidance for the group ahead of its impending split.
While the supplier broke with tradition in not guiding for sales growth and margins for the group, it maintained its outlook for its two arms - Passive Safety and Electronics - which are due to become separately listed companies later this year.
That guidance sees a rise in underlying profitability for Passive Safety this year while core margins are set to fall for the Electronics segment, which is investing heavily in emerging technologies such as autonomous vehicles.
The company makes radar products, vision systems and advanced driver assistance software in its Electronics business, while Passive Safety includes airbags and seatbelts and generates the bulk of company earnings.
"The product launches in Passive Safety are generally on track and its order intake continued to be on a high level in the quarter," CEO Jan Carlson said in the statement.
Autoliv has been winning a lot of new business at the expense of collapsed Japanese rival Takata in recent years, which has been at the center of the auto industry's biggest-ever recall over airbags and filed for bankruptcy last year.