Veoneer, Inc. (VNE) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Veoneer, Inc. (NYSE: VNE)
Operator
Hello and welcome to the Veoneer Q1 Reports 2021. [Operator Instructions] I ll now hand the floor to Thomas Jonsson. Please continue, Jonsson.SPONSORED:
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Veoneer: Financial Report October - December 2020
Financial Summary - Q4 20
Net Sales $455 million, Organic Sales
1 increase 17%
Operating cash flow $(77) million, $27 million improvement YoY
Cash balance $758 million
Active Safety Organic Sales
Currency translation impact is expected to be ~5%
Operating loss is expected to improve in 2021 from 2020, Cash balance is expected to exceed $400 million at 2021 year-end
Order intake in 2021 is expected to increase from 2020
Business Highlights and Mid-Term Targets Update
Organic Sales out-performed the global LVP by ~15pp for the fourth quarter and ~1pp for the full year 2020
Veoneer and Qualcomm Technologies Inc. finalized an agreement in January 2021 where the companies will collaborate on the delivery of scalable Advanced Driver Assistance Systems (ADAS), Collaborative and Autonomous Driving (AD) solutions