Financial Report July - September 2010
Sales: $1,741 million
Operating margin: 11.6%
Operating cash flow: $198 million
EPS: $1.51
(Stockholm, October 26, 2010) – – – For the three-month period ended September 30, Autoliv Inc. (NYSE: ALV and SSE: ALIV) – the worldwide leader in automotive safety systems – reported its best third quarter ever.
Net sales increased by 31% to $1,741 million with the organic sales portion growing at a rate of 23% compared to a growth rate of 13% for global light vehicle production (LVP).
Operating income improved to $202 million, income before taxes to $190 million, net income to $141 million and earnings per share assuming dilution to $1.51. Gross margin amounted to 21.5% and operating margin to 11.6%.
Operations generated a positive cash flow of $198 million, and $134 million before financing.
For the fourth quarter of 2010, the Company expects its consolidated net sales to rise by approximately 15% compared to the same quarter in 2009, with the organic sales portion growing by nearly 12%. This would result in a consolidated sales increase of approximately 40% for the full year with organic sales growing by at least 30%. An operating margin of approximately 12% is expected for both the fourth quarter and the full year 2010.
An earnings conference call will be held at 2:00 p.m. (CET) today October 26. To follow the webcast or to obtain your personal pin code and phone number, please access www.autoliv.com.
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