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STOCKHOLM, April 21 (Reuters) - Sweden's Autoliv , the world's largest maker of airbags and seatbelts, reported slightly weaker than expected first-quarter core earnings on Thursday and maintained its full year outlook.
Adjusted operating profit came to $131 million for the January-March quarter, up from $68 million a year ago but below the median forecast of $135 million in a Refinitiv poll of analyst.
"The operating margin impact of the strong sales growth was lower than it should be in the quarter," CEO Mikael Bratt said in a statement.
While cost inflation from raw material prices has squeezed Autoliv and other car industry suppliers, the Swedish group has said it was seeking to
raise prices
and that its operating margin would grow this year and next.
The company's first quarter adjusted operating profit margin stood at 5.3%, in line with the around 5% the company itself had previously guided for while the full-year forecast of 8.5% to 9% was maintained. (Reporting by Marie Mannes, editing by Terje Solsvik)
