Financial Report January - March 2011
Sales: $2,109 million
Operating margin: 12.1%
(Stockholm, April 20, 2011) – – – For the three-month period ended March 31, 2011, Autoliv Inc. (NYSE: ALV and SSE: ALIV) – the worldwide leader in automotive safety systems –reported record quarterly sales, operating income, net income and earnings per share.
Compared to the same quarter 2010, consolidated net sales increased by 23% to $2,109 million with the organic sales portion growing at a rate of 14%, significantly outperforming global light vehicle production (LVP) which grew by 5%.
Operating income improved by 30% to $255 million, income before taxes by 34% to $240 million, net income by 42% to $182 million and earnings per share assuming dilution by 39% to $1.93.
Operating margin increased to 12.1% from 11.4% for the same quarter 2010.
Cash flow from operations amounted to $141 million and to $63 million before financing.
For the second quarter of 2011, the Company expects organic sales to be flat as compared to the same quarter 2010 and consolidated net sales to rise by approximately 9%. An operating margin of around 9% is expected for the quarter. For the full year, the current indication is a sales increase of approximately 15% with organic sales growing by about 8% and an indicative operating margin of around at 11.5%. These forecasts are uncertain due to the difficulties in predicting disruptions at vehicle assembly lines due to unexpected component shortages after the earthquake in Japan.
An earnings conference call will be held at 3:00 p.m. (CET) today April 20. To follow the webcast or to obtain your pin code and phone number, please access www.autoliv.com.