Regulatory News:
For the quarter ended March 31, 2008, Autoliv Inc. (NYSE:ALV)(STO: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".
This information was brought to you by Cision http://newsroom.cision.com
Contacts:
Mats Ödman, V.P.Corporate
Communications for Autoliv
Phone: +46 (8) 587 20 623
Mobile:
+46 (0) 708 320 933
mats.odman@autoliv.com
or
Ray
Pekar
Dir. Investor Relations & Business Development
Phone:
+1 (248) 475 0427
Mobile: +1 (519) 973 3799P
ray.pekar@autoliv.com