Q2 2024 Autoliv Inc Earnings Call Transcript
Key Points
- Profitability improved year-over-year and sequentially despite lower net sales.
- Successful execution of cost reductions and pricing strategies.
- Strong cash flow supporting high levels of shareholder returns.
- High return on capital employed and improved leverage ratio to 1.2 times.
- Strategic cooperation agreement with XPENG AEROHT to pioneer safety solutions for future mobility.
- Sales in all regions developed less favorably than expected, especially in June.
- Lower light vehicle production and high call-off volatility impacted top line and earnings.
- Adjusted full-year 2024 guidance was revised down due to softer global light vehicle production.
- Negative impact from unfavorable currency translation effects and regional customer mix.
- Higher costs for raw materials, particularly steel and nylon, expected to be a headwind in the second half of 2024.
Welcome everyone to our second quarter 2024 earnings call. On this call, we have our President and Chief Executive Officer, Mikael Bratt and our Chief Financial Officer, Fredrik Westin and me, Anders Trapp, VP, Investor Relations.
During today's earnings call, Mikael and Frederic will, among other things, provide an overview of our sales, earnings, and cash flow development in the quarter how our strong balance sheet and asset return rates support a continued high level of shareholder returns. They will outline the expected sequential margin improvement in the second half of 2024 towards our targets and the continued improvement of our business with domestic Chinese OEMs.
And we will also, as usual, provide an update on our general business and market conditions. We will then remain available to respond to your questions. And as usual, the slides are available on autoliv.com.
Turning to the next slide, we have the Safe Harbor statement, which is an integrated part of this presentation and includes the Q&A that
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