Financial Report October - December 2013 Record Sales

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Jan 31, 2014 at 6:15 AM

Financial Report October - December 2013

Record Sales (Stockholm, Jan. 31, 2014) – – – For the three-month period ended December 31, 2013, Autoliv, Inc. (NYSE: ALV and SSE: ALIV.Sdb) – the worldwide leader in automotive safety systems – reported record consolidated sales of $2,352 million. Quarterly organic sales (non-U.S. GAAP measures, see enclosed reconciliation table) grew by close to 15%, exceeding our guidance for organic sales* growth of “more than 9%”. The higher than expected organic sales* in the quarter led to record full year sales of $8,803 million and organic sales* growth of 7% compared to the “more than 5%” expected at the beginning of the quarter. The adjusted operating margin* for the quarter was 10.0%, exceeding our guidance of “around 9%”. For the full year 2013, the adjusted operating margin* was 9.2%. For the first quarter 2014 we expect organic sales to increase by around 7%, and an adjusted operating margin of around 8%. The indication for the full year is for organic sales growth of around 5%, and an adjusted operating margin of around 9%. Key Figures (Dollars in millions, Q4 2013 Q4 2012 Change except per share data) Net sales $2,351.9 $2,051.9 14.6% Operating income $202.7 $174.3 16.3% Operating margin 8.6% 8.5% 0.1pp Adjusted operating 10.0% 9.4% 0.6pp margin1) Earnings per share, $1.04 $1.45 (28.3)% diluted2) Adjusted earnings per $1.70 $1.58 7.6% share, diluted1, 2, 3) Operating cash flow $299.2 $241.2 24.0% 1) Excluding costs for capacity alignments and antitrust investigations*. 2) Assuming dilution and net of treasury shares. 3) Excluding a non -cash, non-recurring valuation allowance for deferred tax assets in 2013 (non -U.S. GAAP measures, see enclosed reconciliation table). Comments from Jan Carlson, President & CEO [image] “The growth in global car production in 2013 was stronger than anticipated at the beginning of the year. It is satisfying to see that, by executing our strategies, we managed to benefit from this growth, ending the year with a quarter of both record sales and double digit sales growth. I’m also proud that we during the quarter were able to return $200 million to our shareholders through dividends and share buy backs. China is today the world’s biggest auto market and we anticipate that it will continue to grow at healthy rates. In 2013 we grew our Chinese business by over 25% and in the fourth quarter it grew by over 40%, a tremendous achievement. In 2014 we continue to invest for further growth as well as vertical integration in China, as Autoliv’s two biggest investments to date will both start their production, supporting the further expansion. Active Safety is the other strategic focus area which stands out in 2013. The strong growth across the active safety product lines gives us confidence that we are well on track to achieve our active safety targets of half a billion dollars in sales in 2015 and an operating margin within our long term corporate target range in the next two to three years. In 2014 our transition continues. We will have a year of high investments in order to support further expansion in the growth markets, partly through vertical integration. At the same time we are adjusting our global footprint to adapt to the changes in the market. We also continue to address our operational margin challenges in Europe and Brazil. Through a combination of our growth strategy, focus on quality, and execution of the 2014 transition, we believe we will be able to achieve margin improvements beyond 2014.” An earnings conference call will be held at 2:30 p.m. (CET) today, January 31. To follow the webcast or to obtain the pin code and phone number, please access www.autoliv.com. The conference slides will be available on our web site as soon as possible following the publication of this earnings report.

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Group 1 Automotive Q3 2026: Profits Soar, Revenues Dip

Profits Up, Revenues Down Here's a tale for the books—Group 1 Automotive reports their third quarter results of 2026 and it's a bit like swapping a thunderstorm for a hurricane. Net income from continuing operations stomped on last year's figures, clocking in at a hefty $102.9 million compared to a skimpy $13.1 million. But don't let that fool you, their total revenues...

MidCap Financial Faces Scrutiny Amid Ares Capital Merger

MidCap Financial's Merger Sparks Legal Action Nobody expects their investments to end up in a courtroom drama, but here we are. MidCap Financial Investment Corporation (NASDAQ: MFIC) is under the microscope, thanks to attorney Juan Monteverde's M&A Class Action Firm. From their perch in the Empire State Building, Monteverde & Associates, celebrated as a top dog in the ISS...

Endava Faces Class Action: Investors Eye Their Next Move

A Mess That Investors Can't Ignore If you're holding onto Endava plc shares, you've probably felt that gut-punch lately. Yeah, things are getting heated with a class action lawsuit alleging the company played fast and loose with its accounting practices. The complaint's about some shady dealings that may have thrown off investors' perceptions. The Core Allegations This...

Tabañero Spices Up Holidays with $10 Gift Sets

Hot Sauce, Spicy Gifting, and Bold Barbecue When holiday cheer mixes with a dash of heat, you end up with something as electrifying as Tabañero's latest offerings. This Florida-based player is nudging its way into the gift-giving scene with a lineup that's as spicy as it is thoughtful. Frankly, if you're scrambling for stocking stuffers or a memorable Secret Santa...

Heritage Wines Meet Non-Alcoholic Trend: New Deal

Wine Industry Shifts Gears Well, here's a twist that might just shake up the wine racks. C. Mondavi & Family, from the historic Charles Krug estate, is aligning with Missing Thorn—a name gaining traction in the non-alcoholic wine scene. It’s a move that not only raises eyebrows but could also expand your wine-tasting options come your next sober night out. So what...

Webull Faces Class Action: Deadline Looms Dec 2026

Sinking Shares: The Webull Saga Unfolds Shady business practices can really make a stock take a nosedive, and that's what's happening with Webull Corporation, trading under NASDAQ:BULL. The alarm bells started ringing when the truth about their operations and ties to China came out. Turns out, what looked like a stable American fintech platform had its roots digging deep...

Valmet's Strategic Moves and Financial Gains Explained

Valmet's Strategic Playbook for Growth Anyone keeping tabs on Valmet's recent parade of press releases knows they're on a darn aggressive growth spurt. Talk about shaking things up with a firm grip on the paper and forest products sector and beyond. Their interim review from January to September 2026 spells it out with strong orders received and a solid increase in...

Veterinary Implants Market to Hit $0.98B by 2031

Veterinary Implants Market: A Growth Tale Something's stirring in the veterinary world, my friend. The Veterinary Implants Devices Market is hitting some serious strides, and we're looking at a valuation touching nearly $0.98 billion by 2031. If you're eyeing the veterinary sector, it's time to sharpen those pencils and take notes on where the trend winds are blowing....

Brinker International Posts Solid Q1 2027 Earnings

Strong Earnings Highlight a Winning Streak Brinker International, folks, has done it again. With the latest release of their first quarter fiscal 2027 results, it’s clear they’ve been hitting the right notes, especially at Chili’s. The numbers don't lie—trust me, I've seen my fair share of earnings calls, and this one's got meat on the bones. Let’s break it...

Tribal Tech Triumph: ILINX Boosts Proposal Efficiency

A New Era for Tribal Operations Well, here's a headline that might've slipped under your radar, but it’s got some serious implications. Over in Olympia, Washington, ImageSource, Inc., the brains behind the ILINX platform, just scored a home run with an automated system for crafting Tribal Indirect Cost Rate Proposals (ICRPs). This ain't just gadget talk; this is a...