Analysts
  • ABG Sundal Collier
    		• Klas Andersson
  • ABN Amro
    		• Johan Trocmé
  • R.W. Baird
    		• David Leiker
  • Banc of America
    		• Ronald Tadross
  • Carnegie
    		• Oscar Stjerngren
  • Cazenove
    		• Ilan Chaitowitz
  • Cheuvreux
    		• Patrik Sjöblom
  • Citigroup
    		• Stuart Pearson
  • CSFB
    		• Harald Hendrikse
  • Deutsche Bank
    		• Gaëtan Toulemonde
  • Dresdner K. W.
    		• Thomas Aney
  • Enskilda Securities
    		• Anders Trapp
  • Evli
    		• Magnus Axén
  • Exane BNP Paribas
    		• Grégoire Rougnon
  • Goldman Sachs
    		• Keith Hayes
  • Hagströmer & Qviberg
    		• Patric Lindqvist
  • Handelsbanken
    		• Carl Holmquist
  • HVB
    		• Rolf Woller
  • J P Morgan
    		• Himanshu Patel
  • Kaupthing
    		• Hampus Engellau
  • Kepler Equities
    		• Patrice Solaro
  • Key Banc
    		• Brett D Hoselton
  • Lehman Brothers
    		• Dorothee Hellmuth
  • Merrill Lynch
    		• Thomas Besson
  • Monnes, Crespi, Hardt & Co,
    		• Nick Pantazis
  • Morgan Stanley
    		• Adam Jonas
  • Öhman
    		• Fredrik Nilhov
  • Société Générale
    		• Frédéric Labia
  • S&P Nordea
    		• Lars Glemstedt
  • Swedbank
    		• Anders Bruzelius
  • Thomas Weisel
    		• Scott Merlis
  • UBS Warburg
    		• Avaneesh Acquilla
    Definitions
    Capital employed
    Total shareholders' equity and net debt.
    Capital expenditures
    Investments in property, plant and equipment.
    Days inventory outstanding
    Outstanding inventory at average exchange rates relative to average daily sales.
    Days receivables outstanding
    Outstanding receivables at average exchange rates relative to average daily sales.
    Earnings per share
    Net income relative to weighted average number of shares (net of treasury shares) assuming dilution and basic respectively.
    Equity ratio
    Shareholders' equity relative to total assets.
    Gross margin
    Gross profit relative to sales.
    Headcount
    Employees including temporary, hourly workers.
    Interest-coverage ratio
    Operating income relative to interest expense, see page 31.
    Leverage ratio
    Net interest bearing debt in relation to EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), see page 31.
    Net debt
    Short and long-term debt including debt-related derivatives less cash and cash equivalents.
    Net debt to capitalization
    Net debt in relation to total shareholders' equity (including minority) and net debt.
    Number of employees
    Employees with a continuous employment agreement, recalculated to full time equivalent heads.
    Operating margin
    Operating income relative to sales.
    Pretax margin
    Income before taxes relative to sales.
    Return on capital employed
    Operating income and equity in earnings of affiliates, relative to average capital employed.
    Return on shareholders' equity
    Net income relative to average shareholders' equity.
    Working capital
    Current assets excluding cash and cash equivalents less current liabilities excluding short-term debt. Any current derivatives reported in current assets and current liabilities related to net debt are excluded from working capital.
    Investor Requests
    North America
    Autoliv, Inc.
    c/o Autoliv Electronics America
    26545 American Drive
    Southfield, MI 48034.
    Tel +1 (248) 475-0427
    Fax +1 (801) 625-6672
    ray.pekar@autoliv.com
    Rest of the World
    Autoliv, Inc.
    Box 70381, SE-107 24
    Stockholm, Sweden
    Tel +46 (8) 58 72 06 23
    Fax +46 (8) 411 70 25
    mats.odman@autoliv.com
    Board contact
    The Board, the independent directors, as well as the committees of the Board can be contacted through the chairmen as follows:
    c/o Vice President Legal Affairs
    Autoliv, Inc. / Box 70381
    SE-107 24 Stockholm, Sweden
    Tel +46 (8) 58 72 06 08
    Fax +46 (8) 58 72 06 33
    jorgen.svensson@autoliv.com
    Contact can be made anonymously and communication with the independent directors is not screened.
    The relevant chairman receives all such communication after it has been determined that the content represents a message to such chairman.
    STOCK TRANSFER AGENT
    AND REGISTRAR
    Computershare Trust Company, N.A.
    P.O. Box 43069
    Providence, RI 02940
    +1 (800) 446-2617 (within the U.S.)
    +1 (781) 575-2723 (outside the U.S.)
    +1 (800) 952-9245 (hearing impaired)
    Internet: www.equiserve.com
    Selected Financial Data
    (Dollars in millions, except per share data) 20051) 2004 2003 2002 20012) 20012) 3)
    Sales and Income
    Net sales $6,205 $6,144 $5,301 $4,443 $3,991
    Operating income 513 513 427 323 182 $233
    Income before income taxes 482 485 397 279 125 176
    Net income 293 326 268 176 53 105
     
    Financial Position
    Current assets excluding cash 1,867 1,962 1,822 1,518 1,350
    Property, plant and equipment 1,081 1,160 1,052 917 845
    Intangible assets (primarily goodwill) 1,679 1,709 1,710 1,690 1,685
    Non-interest bearing liabilities 1,418 1,678 1,493 1,290 1,058
    Capital employed 3,193 3,236 3,187 2,924 2,917
    Net debt 877 599 785 864 1,023
    Shareholders' equity 2,316 2,636 2,402 2,060 1,894
    Total assets 5,065 5,354 4,931 4,356 4,086
    Long-term debt 757 667 846 843 1,037
     
    Share data
    Earnings per share (US$)4) 3.26 3.46 2.81 1.79 0.54 1.07
    Equity per share (US$) 27.67 28.66 25.31 21.39 19.32
    Cash dividends declared and paid per share (US$) 1.17 0.75 0.54 0.44 0.44
    Share repurchases 378 144 43 30 0
    Number of shares outstanding (million)5) 83.7 92.0 94.9 96.3 98.0
    Ratios
    Gross margin (%) 20.4 19.9 18.9 18.1 16.6 16.6
    Operating margin (%) 8.3 8.4 8.1 7.3 4.5 5.8
    Pretax margin (%) 7.8 7.9 7.5 6.3 3.1 4.4
    Return on capital employed (%) 16 16 14 11 6 8
    Return on shareholders' equity (%) 12 13 12 9 3 6
    Equity ratio (%) 46 49 49 47 46
    Net debt to capitalization (%) 27 18 24 29 35
    Days receivables outstanding 71 73 77 78 79
    Days inventory outstanding 32 31 31 31 32
    Other data
    Airbag sales6) 4,083 4,028 3,608 3,160 2,817
    Seatbelt sales7) 2,122 2,116 1,693 1,283 1,174
    Net cash provided by operating activities 479 680 529 509 266
    Capital expenditures 315 324 258 228 248
    Net cash used in investing activities (303) (303) (275) (240) (270)
    Net cash provided by (used in)
    financing activities (86) (261) (273) (257) 10
    Number of employees, December 31 34,100 34,500 32,100 30,100 28,300
    1) Please see page 22 for "Items Affecting Comparability". 2) In 2001, Unusual items reduced gross profit by $46.1 million, income before taxes by $65.3 million, net income by $46.8 million and earnings per share by $0.48 (see Note 10 for further details.) 3) Adjusted for the effect of the accounting principle FAS-142. 4) The differences between basic and dilutive per share amounts are less than one percent for each year (see page 33) 5) At year end, net of treasury shares. 6) Incl. Steering Wheels, Electronics, Inflators and Initiators. 7) Incl. Seat components.