Autoliv Financial Report Q4, 2003

Financial Report October - December 2003 Record Sales, Earnings and Cash Flow (Stockholm, January 22, 2004) - Autoliv Inc. (NYSE: ALV and SSE: ALIV) - the world-wide leader in automotive safety systems - reported record sales, earnings and cash flow for the three-month period which ended December 31, 2003. Consolidated sales rose by 25% to $1,476 million including an organic growth of 9% compared to a 1% decline in the underlying vehicle production. Including $18 million in pre-tax income from the net of license income and changes in provisions ("Special Items"), operating income rose by 53% to $136 million and income before taxes by 67% to $128 million compared to the corresponding quarter 2002. Net income and earnings per share, which have been affected by a temporary reduction in the effective tax rate, improved by 93% and 96%, respectively, to $92 million and 96 cents. Excluding Special Items, operating income rose by 33% to $118 million and income before taxes by 44% to $110 million. Excluding Special Items and using Autoliv's expected long-term effective tax rate, net income improved by 53% to approximately $73 million and earnings per share by 55% to 76 cents. Operations generated $237 million before capital expenditures and acquisitions, compared to $150 million during the corresponding quarter 2002. For the full year cash flow from operations was $530 million. A teleconference will be held today at 3.30 p.m. CET (9.30 a.m. New York time). In Europe call: +44-20-7162 0025 and in North America: +1-334-323 6201. The conference will also be available and archived at www.autoliv.com 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/2004/01/22/20040122BIT00320/wkr0001.doc The full report http://www.waymaker.net/bitonline/2004/01/22/20040122BIT00320/wkr0002.pdf The full report