Autoliv Inc has reported record results for its third quarter, as the company’s growth outpaced that of the general auto market.
The safety systems group said that net sales increased by 31% to US$1,741m with the organic sales portion growing at a rate of 23% compared to a growth rate of 13% for global light vehicle production (LVP).
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Operating income improved to $202m, income before taxes to $190m, net income to $141m and earnings per share assuming dilution to $1.51. Gross margin amounted to 21.5% and operating margin to 11.6%.
Operations generated a positive cash flow of $198 million, and $134 million before financing.
For the fourth quarter of 2010, the company expects its consolidated net sales to rise by approximately 15% compared to the same quarter in 2009, with the organic sales portion growing by nearly 12%. This would result in a consolidated sales increase of approximately 40% for the full year with organic sales growing by at least 30%. An operating margin of approximately 12% is expected for both the fourth quarter and the full year 2010.
