Financial Report July - September 2004

Financial Report July - September 2004 Record-breaking Third Quarter · Sales: Up 14% to $1.4 billion · Income Before Tax: Up 24% to $97 million · Earnings per Share: Up 31% to $.72 · Cash Flow: Up 87% to $126 million (Stockholm, Oct. 21, 2004) - - - Autoliv Inc. (NYSE: ALV and SSE: ALIV) - the world¬wide leader in automotive safety systems - reported record third-quarter sales, earnings and cash flow for the three-month period which ended September 30, 2004. Despite flat underlying light vehicle production, Autoliv's consolidated sales rose by 14% to $1,383 million, operating income improved by 21% to $104 million and income before taxes increased by 24% to $97 million compared to the corresponding quarter 2003. Net income increased by 30% to $67 million and earnings per share by 31% to 72 cents. The strong top-line performance was driven by an 8% organic growth in sales and a 6% trans¬lation effect from currency exchange rates. Earnings were also positively impacted by a 0.8 percent¬age point improvement in the gross profit margin. Cash flow from operations increased to $126 million and to $68 million after investing activi¬ties, compared to $68 million and $0 million, respectively, in the third quarter 2003. Sales for the fourth quarter 2004 are expected to increase, compared to the same quarter prior year, by approximately 7%, given current exchange rates. The operat¬ing margin is expected to slightly exceed the 8% underlying margin as presented in the earnings release for the fourth quarter 2003. An earnings conference call will be held today at 3.30 p.m. (CET); call (in Europe) +44-207-162-0025 or (in the U.S.) +1-334-323-6201 to listen in or access www.autoliv.cm under Financial info/Calendar. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/10/21/20041021BIT21270/wkr0001.pdf The full report

About Us

Autoliv, Inc. is the worldwide leader in automotive safety systems, and through its subsidiaries develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has more than 66,000 associates in 27 countries. In addition, the Company has 12 technical centers around the world, with 19 test tracks. The Company's shares are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). For more information about Autoliv, please visit our company website at www.autoliv.com.

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