Veoneer’s Q3 net loss almost doubles y/y to USD133 million
Swedish supplier expects its full-year organic sales to decline in ‘low double digits’
Veoneer’s net loss almost doubled year-over-year (y/y) to USD133 million in the third quarter ended 30 September 2019, the company said in a press release on 23 October. The company also recorded operating loss of USD122 million, more than double over USD58 million a year earlier. Veoneer reported higher net loss and operating loss mainly due to 12% drop in net sales to USD462 million. The company’s organic sales declined 10% y/y during the third quarter.