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MarketScreener Homepage  >  Equities  >  Nyse  >  Veoneer, Inc.    VNE

VEONEER, INC.

(VNE)
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Veoneer : Supplies Advanced Driver Assistance Technology to Global Premium Automaker

09/10/2020 | 02:31am EST

Stockholm, Sweden, September 10, 2020: The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), will equip a world-class premium automaker with the most advanced stereo vision camera system, perception software and 77 GHz front and rear radar system available in the market.  These systems supply data to the vehicle's driver assistance package which enable the most advanced active safety features. 

Veoneer's 4th generation stereo vision camera system is comprised of fully integrated hardware, perception software, and new features to master the challenges of highly automated driving. The camera, mounted behind the rear-view mirror, monitors the forward path of the vehicle to provide reliable and accurate information to the vehicle control system. The system processes and classifies 3D objects (vehicles, motorbikes, pedestrians, lanes, landmarks, signals, posts, etc.) under a variety of weather conditions.   Veoneer's 4[th] generation stereo vision camera system uses Convolutional Neural Network technology for free space and small obstacle detection to maneuver safely through construction areas and within road boundaries.

Veoneer's latest generation of advanced 77GHz radars provide more reliable and accurate situational awareness of vulnerable road users, pedestrians and bicyclists as input to the vehicle safety system. The radar design uses super-pulse modulation techniques for enhanced perception and operates at  a distance up to 150-meters with high range resolution and supreme angular accuracy. The radars have 50% more range in the rear corners to detect motorcycles and over 100% more range in the front corners.

"We are excited to see Veoneer's most advanced stereo vision cameras, perception software and radars being used as critical building blocks in the debut of our customer's most advanced vehicle program,"  says Jan Carlson, Veoneer Chairman, President and CEO.  "Our 4[th] generation stereo vision system is another proof point that Veoneer is at the forefront of providing safe, collaborative driving solutions."

For more information please contact:

Thomas Jönsson, EVP Communications & IR, tel +46 (0)8 527 762 27
Ray Pekar, VP Investor Relations, tel +1 (248) 794-4537

Veoneer, Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design, manufacture and sell state-of-the-art software, hardware and systems for occupant protection, advanced driving assistance systems, and collaborative and automated driving to OEMs globally. Headquartered in Stockholm, Sweden, Veoneer has 7,100 employees in 13 countries. In 2019, sales amounted to $1.9 billion. The Company is building on a heritage of close to 70 years of automotive safety development. In 2018, Veoneer became an independent, publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB).

Safe Harbor Statement: This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Veoneer, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law.

https://news.cision.com/veoneer/r/veoneer-supplies-advanced-driver-assistance-technology-to-global-premium-automaker,c3192064

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials (USD)
Sales 2020 1 310 M - -
Net income 2020 -534 M - -
Net cash 2020 551 M - -
P/E ratio 2020 -4,51x
Yield 2020 0,04%
Capitalization 2 281 M 2 281 M -
EV / Sales 2020 1,32x
EV / Sales 2021 1,22x
Nbr of Employees 6 175
Free-Float 99,6%
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Mean consensus HOLD
Number of Analysts 19
Average target price 16,21 $
Last Close Price 20,44 $
Spread / Highest target 22,3%
Spread / Average Target -20,7%
Spread / Lowest Target -70,6%
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Managers
NameTitle
Jan Carlson Chairman, President & Chief Executive Officer
Steven Rodé Executive Vice President-Operations
Mats Backman Chief Financial Officer & Executive VP-Finance
Nishant Batra Chief Technology Officer & Executive VP
Robert W. Alspaugh Independent Director
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