Financial Report January - March 2008

Sales: Up 8% to $1,828 million
Net Income: Up 11% to $82 million
EPS: Up 22% to $1.11
Cash Flow: Up 84% to $165 million

(Stockholm, April 22, 2008) – – – For the quarter ended March 31, 2008, Autoliv Inc. (NYSE: ALV and SSE: ALIV) – the world¬wide leader in automotive safety systems – reported record quarterly sales and the strongest cash flow for any first quarter despite a very weak North American market and a weak Western European market.

When compared to the same quarter 2007, net sales rose by nearly 8% to $1,828 million driven by favorable currency effects of 9%. Operating income increased by 1% to $127 million resulting in an operating margin of 7.0%. Income before taxes stood unchanged at $113 million, while net income increased by 11% to $82 million and earnings per share by 22% to $1.11.

Cash flow from operations improved to $165 million and cash flow before financing activities to $100 million. During the last twelve months, the Company has generated record-breaking cash flow of $856 million and $512 million before financing.

Sales for the second quarter 2008 are expected to increase by approximately 14% with the organic portion growing at a rate of approximately 2%. Operating margin is expected to reach at least the same level of 7.7% on a comparable basis as in the second quarter 2007. The operating margin guidance for the full year remains unchanged 8.0-8.5%, while full year sales are now expected to grow due to stronger currency effects by more than 10% compared to 7% expected at the beginning of the year. The expected growth in organic sales remains unchanged at 2%, while the expected effective tax rate for the full year is revised; from 31% to around 28%.


An earnings conference call will be held today, April 22nd, at 3:00 p.m. (CET). To listen in, call (in Europe) +44-20-3003-2665 and (in the U.S.) +1-866-966-5335 or access www.autoliv.com under “News/Calendar”.