Veoneer expects growth to accelerate in 2021

STOCKHOLM — Veoneer expects that it returned to organic sales growth in the fourth quarter of 2020 and sees growth accelerating in 2021, the company said in a statement on Thursday.

The Swedish maker of vision systems, radar and software for advanced driver-assistance systems 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 percent is from active safety products.

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

Veoneer will present its earnings report for the fourth quarter on Feb. 3.

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