Regulatory News:
Sales: | $2,045 million | |
Operating margin: | 11.0% | |
Operating cash flow: | $293 million | |
EPS: |
|
For the three-month period ended December 31, 2011, Autoliv, Inc. (NYSE:
ALV and SSE: ALIV) – the worldwide leader in automotive safety systems –
met its guidance and reported the eighth consecutive quarter with double
digit operating margins.
Consolidated net sales increased by 7% to $2,045 million compared to the
same quarter in 2010. Organic sales grew at a rate of 7% compared to the
increase in global light vehicle production (LVP) which is estimated by
IHS to have been 1%. This is the ninth consecutive quarter that Autoliv
has outperformed the global LVP.
Operating income amounted to $224 million, income before taxes to $211
million, net income to $160 million and earnings per share assuming
dilution to $1.70.
Operating margin amounted to 11.0% including a 0.3 percentage point
negative effect from expenses related to the on-going antitrust
investigations. At the beginning of the quarter, the Company expected an
operating margin in the range of 11.0-11.5%, excluding expenses related
to the investigations.
Cash flow from operations amounted to $293 million and $178 million
before financing.
The Company expects consolidated sales to increase by 2% for the first
quarter and by nearly 4% for the full year 2012 with the organic sales
portion growing by nearly 5% and around 7%, respectively. An operating
margin of around 10% is expected for the first quarter and in the range
of 10-11% for the full year, excluding any impact from the antitrust
investigations and costs for capacity alignments. The alignment costs
are difficult to assess at this point, but they could be more than $50
million.
An earnings conference call will be held at 3:00 p.m. (CET) today
February 1. To follow the webcast or to obtain phone numbers, please
access www.autoliv.com.
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