Financial Report April - June 2012
7/20/2012 6:00 AM EST
Organic growth and operating margin slightly better than expected
(Stockholm, July 20, 2012) – – – For the three-month period ended June 30, 2012, Autoliv Inc. (NYSE: ALV and SSE: ALIV.Sdb) – the worldwide leader in automotive safety systems – reported quarterly sales of $2,089 million and an operating income of $190 million, generating an operating margin of 9.1%.
Organic sales rose by slightly less than 8% compared to an expected growth of “approximately 7%” at the beginning of the quarter. Operating margin excluding costs related to capacity alignments and the antitrust investigations amounted to 9.4% compared to “more than 9%” expected at the beginning of the quarter.
Income before taxes amounted to $182 million, net income to $126 million and earnings per share assuming dilution to $1.33.
Cash flow from operations amounted to $219 million and to $138 million before financing.
The indication for the full year 2012 is for an organic sales growth of approximately 6% and a consolidated sales increase of about 1%. The guidance for the third quarter is a decrease in consolidated sales around 3%, while organic sales are expected to grow by nearly 4%. An operating margin around 10% is expected for the third quarter. The indication for the full year is also around 10%. Both the guidance and the indication of the operating margins exclude costs for capacity alignments and the antitrust investigations.
An earnings conference call will be held at 2:30 p.m. (CET) today, July 20. To follow the webcast or to obtain 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.