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Electronics Production | July 26, 2006

Lower sales and result by Autoliv in Q2

Compared to the corresponding quarter 2005, consolidated sales decreased by 3% to $1,608 million due to a 7% drop in light vehicle production in Western Europe where Autoliv generates approximately half of its revenues.
Operating income decreased by 2% to $141 million. However, operating margin improved to 8.8% from 8.7%. Income before taxes stood almost unchanged at $132 million. Net income declined by 3% to $83 million, while earnings per share rose by 6% to $1.00.

Cash flow provided from operations amounted to $162 million and to $94 million after investing activities. Factoring agreements had a positive impact on cash flow of $58 million.
Consolidated sales for the third quarter 2006 are expected to increase by 2% with organic sales expected to be flat, despite an anticipated 4% decline in light vehicle production in both Western Europe and North America. Operating margin is expected to exceed 7%.
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