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Financial Report April - June 2010

^{Published on 2010-07-23 04:00:48 - Market Wire}
 

For the three-month period ended June 30, 2010, Autoliv Inc.(STO:ALIV))(NYSE:ALV) a" the worldwide leader in automotive safety systems a" reported a record quarterly operating income and margin of $229 million and 12.7%, respectively. Net sales increased by 51% to $1,802 million compared to the same quarter in 2009.

Excluding currency effects and acquisitions, sales grew organically by 40% compared to the increase in global light vehicle production of 29%.

Income before taxes improved to $206 million, net income to $146 million and earnings per share assuming dilution to $1.60. The pre-tax income has been negatively affected by approximately $12 million for extinguishment of debt.

Operations generated a positive cash flow of $251 million, and $195 million before financing. Net debt fell to $417 million despite acquisitions, restructuring payments and debt extinguishment payments totaling $181 million since the beginning of the year.

For the third quarter of 2010, the Company expects consolidated net sales to rise close to 25% compared to the same quarter in 2009 with organic sales growing by at least 20% and anticipates an operating margin of at least 10%. Based on the current IHS (CSM) light vehicle production forecast, the Company indicates a net sales increase of close to 35% for the full year with organic sales growing by approximately 28% and indicates an operating margin of more than 11%.

An earnings conference call will be held at 2:00 p.m. (CET) today July 23. To follow the webcast or to obtain your personal pin code and phone number, please access [ www.autoliv.com ].

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