Autoliv: Financial Report April - June 2010
STOCKHOLM, Sweden--| Sales: | Â | $1,802 million | |
| Operating margin: |
12.7% |
 |
|
| Operating cash flow: |
$251 million |
||
| EPS: |
$1.60 |
 |
For the three-month period ended June 30, 2010, Autoliv Inc.(STO:ALIV)) – the worldwide leader in automotive safety systems – reported a record quarterly operating income and margin of $229 million and 12.7%, respectively. Net sales increased by 51% to $1,802 million compared to the same quarter in 2009.
Excluding currency effects and acquisitions, sales grew organically by 40% compared to the increase in global light vehicle production of 29%.
Income before taxes improved to $206 million, net income to $146 million and earnings per share assuming dilution to $1.60. The pre-tax income has been negatively affected by approximately $12 million for extinguishment of debt.
Operations generated a positive cash flow of $251 million, and $195 million before financing. Net debt fell to $417 million despite acquisitions, restructuring payments and debt extinguishment payments totaling $181 million since the beginning of the year.
For the third quarter of 2010, the Company expects consolidated net sales to rise close to 25% compared to the same quarter in 2009 with organic sales growing by at least 20% and anticipates an operating margin of at least 10%. Based on the current IHS (CSM) light vehicle production forecast, the Company indicates a net sales increase of close to 35% for the full year with organic sales growing by approximately 28% and indicates an operating margin of more than 11%.
An earnings conference call will be held at 2:00 p.m. (CET) today July 23. To follow the webcast or to obtain your personal pin code and phone number, please access www.autoliv.com.
This information was brought to you by Cision http://www.cisionwire.com