Autoliv: Financial Report January - March 2016
April 29 2016 - 7:03AM
Business Wire
Regulatory News:
Strong sales growth and improved operating margin
For the three-month period ended March 31, 2016, Autoliv, Inc.
(NYSE: ALV and SSE: ALIV.Sdb) – the worldwide leader in automotive
safety systems – reported consolidated sales of $2,430 million.
Quarterly organic sales* grew by close to 15%. The adjusted
operating margin* was 9.1% (for non-U.S. GAAP measures see enclosed
reconciliation tables).
The expectation at the beginning of the quarter was for organic
sales growth of “more than 10%” and an adjusted operating margin of
“around 8.5%”. The higher than expected sales growth came from
stronger than expected sales in most regions.
For the second quarter of 2016, the Company expects organic
sales to increase by around 10% and an adjusted operating margin of
around 8.5%. The expectation for the full year is now for an
organic sales growth of more than 7% and an adjusted operating
margin of more than 9%. Both the second quarter and full year
expectations now include the recently closed joint venture with
Nissin Kogyo – Autoliv-Nissin Brake Systems (ANBS).
Key Figures
For Key Figures summary table, please refer to attached file
below.
http://mb.cision.com/Main/751/9967538/508602.pdf
Comments from Jan Carlson, Chairman, President &
CEO
"Autoliv had a solid first quarter. Sales growth and operating
margin both exceeded our expectations from the beginning of the
quarter, operating cash flow was strong and our adjusted earnings
per share grew by 17%. I am pleased with the quarter.
In Passive Safety we had solid growth across most regions and
outperformed the light vehicle production. This was due to a
generally positive vehicle mix coming from a combination of high
Autoliv content on successful platforms and the effects from
launches of new models in the second half of 2015.
We continue to experience solid growth in our business related
to the current recall situation in the airbag market. This relates
both to the sales of replacement inflators which is now higher than
previously expected and the sustainable business we are
winning.
It was a quarter with several important events for our
Electronics business. In Active Safety the strong growth continued,
particularly in North America and Europe. The new Mercedes E-Class,
generally seen as the vehicle with the most advanced autonomous
driving features in the world, was launched with a full suite of
Autoliv active safety products.
Additionally, we took the important step of finalizing our joint
venture with Nissin Kogyo of Japan. The new joint venture,
Autoliv-Nissin Brake Systems, gives us access to the latest
technology in brake systems and brake control and we look forward
to introducing these new products in our portfolio to our customers
around the world.
With quality as our first priority we are executing to deliver
on our growth and margin expectations while integrating our new
businesses into Autoliv.”
An earnings conference call will be held at 2:00 p.m. (CET)
today, April 29. To follow the webcast or to obtain the pin code
and phone number, please access www.autoliv.com. The conference
slides will be available on our web site as soon as possible
following the publication of this earnings report.
This information was brought to you by Cision
http://news.cision.com
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ContactsAutolivThomas J�nssonV.P. Corporate CommunicationsPhone:
+46 (0)8 587 206 27
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