{"id":28095,"date":"2024-07-19T14:52:00","date_gmt":"2024-07-19T14:52:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4465497_AE65497_0"},"modified":"2024-07-19T14:52:00","modified_gmt":"2024-07-19T14:52:00","slug":"autoliv-q2-2024-sales-headwinds-from-lower-lvp","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=28095","title":{"rendered":"Autoliv &#8211; Q2 2024: Sales headwinds from lower LVP"},"content":{"rendered":"<p><span class=\"xn-location\">STOCKHOLM<\/span>, <span class=\"xn-chron\">July 19, 2024<\/span> \/PRNewswire\/ &#8212;<\/p>\n<p>(NYSE: ALV) and (SSE: ALIV.sdb)<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"11.5\">\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Financial highlights Q2 2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Full year 2024 guidance<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"7.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$2,605 million <\/b>net sales&nbsp;<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Around 2%<\/b>&nbsp;organic sales growth<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>1.1%<\/b> net sales decrease<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Around 1% negative<\/b>&nbsp;FX effect on net sales<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"6\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>0.7% <\/b>organic sales growth*<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Around 9.5-10.0%<\/b>&nbsp;adjusted operating margin<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>7.9%<\/b> operating margin<\/span><\/p>\n<\/td>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Around $1.1 billion<\/b>&nbsp;operating cash flow<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>8.5%<\/b> adjusted operating margin*<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$1.71 <\/b>EPS, 178% increase<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$1.87 <\/b>adjusted EPS*, 3% decrease<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen2\" colspan=\"2\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b><i>All change figures in this release compare to the same period of the previous year except when stated otherwise.<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>Key business developments in the second quarter of 2024<\/p>\n<ul type=\"disc\">\n<li><b>Second quarter sales increased organically* by 0.7%<\/b>, which was 1.4pp better than global LVP decline of 0.7% (S&amp;P Global <span class=\"xn-chron\">July 2024<\/span>). We outperformed in <span class=\"xn-location\">Asia<\/span> excl. <span class=\"xn-location\">China<\/span> and in <span class=\"xn-location\">Europe<\/span>, mainly due to product launches and pricing while we underperformed in Americas and in <span class=\"xn-location\">China<\/span>, mainly due to lower light vehicle production with certain key customers, as a consequence of weaker sales and inventory reductions. In <span class=\"xn-location\">China<\/span>, the LVP mix was negative as several models with limited Autoliv content grew strongly.<\/li>\n<li><b>Profitability improved<\/b>&nbsp;despite a slight net sales decline. Sales were lower than expected, which impacted our profitability in the quarter with an operating leverage at the high end of our normal 20%-30% range. Profits improved mainly due to the successful execution of cost reductions and increased pricing. Indirect headcount continued to decrease. Operating income was <span class=\"xn-money\">$206 million<\/span> and operating margin was 7.9%. Adjusted operating income* improved to <span class=\"xn-money\">$221 million<\/span> and adjusted operating margin* increased from 8.0% to 8.5%. Return on capital employed was 21.0% and adjusted return on capital employed* was 22.5%.<\/li>\n<li><b>Operating cash flow was strong,<\/b> at <span class=\"xn-money\">$340 million<\/span>, albeit slightly below last year as Q2 last year was supported by positive timing effects. Free cash flow* of <span class=\"xn-money\">$194 million<\/span> was thereby also down somewhat compared to last year. The leverage ratio* improved to 1.2x. In the quarter, a dividend of <span class=\"xn-money\">$0.68<\/span> per share was paid, and 1.31 million shares were repurchased and retired.<\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"1\">\n<tr readability=\"3\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml20\"><span class=\"prnews_span\"><b><i>*For non-U.S. GAAP measures see enclosed reconciliation tables.<\/i><\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Key Figures<\/b><\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"11.5\">\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>(Dollars in millions, except per share data)<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Q2 2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Q2 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>6M 2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>6M 2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Net sales<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">$2,605<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">$2,635<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(1.1)&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">$5,220<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">$5,127<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.8&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating income<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">206<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">94<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">120&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">400<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">221<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">81&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted operating income<sup>1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">221<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">212<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">420<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">343<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">22&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating margin<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7.9&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.6&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.4pp<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">7.7&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.3&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.4pp<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted operating margin<sup>1)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8.5&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8.0&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.5pp<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">8.0&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">6.7&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.4pp<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Earnings per share<sup>2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.71<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">0.61<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">178&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.23<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.47<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">119&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted earnings per share<sup>1,2)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.87<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.93<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(2.9)&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">3.45<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">2.82<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">22&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating cash flow<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">340<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">379<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(10)&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">462<\/span><\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">334<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">39&nbsp;%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" readability=\"5\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Return on capital employed<sup>3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">21.0&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9.5&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11.5pp<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">20.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">11.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">9.1pp<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjusted return on capital employed<sup>1,3)<\/sup><\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">22.5&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">21.0&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1.5pp<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">21.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">17.4&nbsp;%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">4.0pp<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"12\">\n<td class=\"prngen3\" colspan=\"7\" rowspan=\"1\" readability=\"11\">\n<p class=\"prnml4\"><span class=\"prnews_span\">1) Excluding effects from capacity alignments, antitrust related matters and for FY 2023 the Andrews litigation settlement. Non-U.S. GAAP <br \/>measure, see reconciliation table. 2) Assuming dilution when applicable and net of treasury shares. 3) Annualized operating income and <br \/>income from equity method investments, relative to average capital employed.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"18\">\n<tr readability=\"4.5\">\n<td class=\"prngen3\" colspan=\"2\" rowspan=\"1\" readability=\"6\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Comments from Mikael Bratt, <br \/>President &amp; CEO<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"3\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr readability=\"40.5\">\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" readability=\"11\">\n<p class=\"prnml4\"><span class=\"prnews_span\">In the second quarter, profitability continued to improve despite a slight decline in net sales. The improvement was driven by better pricing and successful execution of cost reductions, with indirect headcount reduced by 1,100 since the start of the program. We have settled cost compensation claims with a majority of <\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"2\" readability=\"28\">\n<p class=\"prnml4\"><span class=\"prnews_span\">We continued to outperform LVP significantly in Asia excluding China and in Europe, fueled by product launches and better pricing. In Americas, we underperformed slightly, as some key customers reduced production.<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">We continue to expand our business with domestic Chinese OEMs, positioning us well to benefit from the new structure of the Chinese market. Domestic Chinese OEMs accounted for 38% of our China sales in Q2. We grew sales to this group by 39% in Q2 vs. a year ago, and by 25% vs. the previous quarter. However, the market developed unfavorably in Q2, with sales for certain brands and models with low Autoliv content growing strongly, while some of our key global customers production declined significantly, leading to 7pp underperformance in China. <\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">We remain fully focused on delivering on the around 12% adjusted operating margin target, although we adjust our full year 2024 guidance slightly, reflecting changes in LVP and adverse customer mix. We continue to expect a significant increase in profitability in the second half year with an adjusted operating margin of around 11-12% compared to the first half year&#8217;s 8.0%. The positive development of our cash flow and balance sheet supports our continued commitment to a high level of shareholder returns. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"17\">\n<td class=\"prngen3\" colspan=\"2\" rowspan=\"1\" readability=\"19\">\n<p class=\"prnml4\"><span class=\"prnews_span\">customers and target to close most of the remaining claims in Q3. Return on capital employed was good and cash flow continued to be strong, supporting a high level of shareholder returns and an improvement of the leverage ratio to 1.2x.<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">We remain on track with our strategic and structural initiatives to sustainably strengthen our footprint and operations. However, light vehicle production with certain key customers following weaker sales and inventory adjustments were lower than expected in the quarter, especially in June. The lower than expected sales impacted our profitability with an operating leverage at the high end of our normal 20%-30% range. <\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">It is encouraging that customer production plans for the third quarter are normalizing, indicating that the June weakness should be temporary. <\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"4.5\">\n<tr readability=\"17\">\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" readability=\"19\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Inquiries: Investors and Analysts<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Anders Trapp<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Vice President Investor Relations<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Tel +46 (0)8 5872 0671<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Henrik Kaar<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Director Investor Relations<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Tel +46 (0)8 5872 0614<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Inquiries: Media<\/b><\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Gabriella Etemad<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Senior Vice President Communications<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Tel +46 (0)70 612 6424<\/span><\/p>\n<p class=\"prnml4\"><span class=\"prnews_span\">Autoliv, Inc. is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the VP of Investor Relations set out above, at 12.00 CET on July 19, 2024.<\/span><\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>This information was brought to you by Cision <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4215422-1&amp;h=1859009664&amp;u=http%3A%2F%2Fnews.cision.com%2F&amp;a=http%3A%2F%2Fnews.cision.com\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/news.cision.com<\/a><\/p>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4215422-1&amp;h=1911831562&amp;u=https%3A%2F%2Fnews.cision.com%2Fautoliv%2Fr%2Fq2-2024--sales-headwinds-from-lower-lvp%2Cc4016881&amp;a=https%3A%2F%2Fnews.cision.com%2Fautoliv%2Fr%2Fq2-2024--sales-headwinds-from-lower-lvp%2Cc4016881\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/news.cision.com\/autoliv\/r\/q2-2024&#8211;sales-headwinds-from-lower-lvp,c4016881<\/a><\/p>\n<p>The following files are available for download:<\/p>\n","protected":false},"excerpt":{"rendered":"<p>STOCKHOLM, July 19, 2024 \/PRNewswire\/ &#8212; (NYSE: ALV) and (SSE: ALIV.sdb) Financial highlights Q2 2024 Full year 2024 guidance $2,605 million net sales&nbsp; Around 2%&nbsp;organic sales growth 1.1% net sales decrease Around 1% negative&nbsp;FX effect on net sales 0.7% organic sales growth* Around 9.5-10.0%&nbsp;adjusted operating margin 7.9% operating margin Around $1.1 billion&nbsp;operating cash flow 8.5% [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-28095","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Autoliv - Q2 2024: Sales headwinds from lower LVP - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=28095\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Autoliv - Q2 2024: Sales headwinds from lower LVP - My Blog\" \/>\n<meta property=\"og:description\" content=\"STOCKHOLM, July 19, 2024 \/PRNewswire\/ &#8212; 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