Financial Report April - June 2004

Financial Report April - June 2004 · Record Sales - up 16% to $1.6 billion · Record Income Before Tax - up 23% to $135 million · Record Earnings per Share - up 22% to $.94 · Record Net Cash Flow - up 166% to $123 million (Stockholm, July 22, 2004) - - - Autoliv Inc. (NYSE: ALV and SSE: ALIV) - the world¬wide leader in automotive safety systems - reported record sales and earnings for the three-month period which ended June 30, 2004. Despite flat underlying light vehicle production, Autoliv's consolidated sales rose by 16% to $1,579 million, operating income improved by 25% to $142 million and income before taxes increased by 23% to $135 million compared to the corresponding quarter 2003. Net income and earnings per share increased by 22% to $89 million and 94 cents, respectively. The strong top-line performance was mainly driven by a 10% organic growth in sales and a 5% trans¬lation effect from currency exchange rates. Earnings were also driven by a one percentage point gross margin expansion to 20.6%. Operations generated the best cash flow ever for a second quarter. Cash flow hit $206 before investing activities and $123 million after these activities, compared to $118 million and $46 million, respectively, in the second quarter 2003. Sales for the third quarter 2004 are expected to increase by approximately 10% and the oper-ating margin is expected to slightly exceed the 7.1% level achieved during the correspond¬ing quarter 2003. An Earnings Conference Call will be held today at 3.30 p.m. CET (9.30 a.m. New York time). In Europe call: +44-20-7162 0180 and in North America: +1-334-323 6203. 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/2004/07/22/20040722BIT20310/wkr0010.pdf The full report