AUTOLIV INC - FORM 8-K - EX-99.3 - SUPPLEMENTAL PRESENTATION OF SELECTED DATA FOR THE EARNINGS CONFERENCE CALL

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EX-99.2 - TRANSCRIPT OF EARNINGS CONFERENCE CALL - AUTOLIV INC	d476777dex992.htm
EX-99.1 - PRESS RELEASE - AUTOLIV INC	d476777dex991.htm
8-K - FORM 8-K - AUTOLIV INC	d476777d8k.htm

Teleconference

Quarter Financial Earnings

January 31, 2013

Driven for Life

Exhibit 99.3

ALV

Q4’12

Financial

Earnings

Report

This report contains statements that are not historical facts but rather forward-looking

statements within the meaning of the Private Securities Litigation Reform Act of 1995

(PSLRA). All such statements are based upon our current expectations and various

assumptions, and apply only as of the date of this report. Our expectations and beliefs are

expressed in good faith and we believe there is a reasonable basis for them. However,

there can be no assurance that forward-looking statements will materialize or prove to be

correct. Because such statements involve risks and uncertainties, the outcome could

differ materially from those set out in the statements. For a summary of such risk factors,

please refer to our latest 10-K and 10-Q filed with the SEC. Except for our ongoing

obligation to disclose information under law, we undertake no obligation to update

publicity any forward-looking statements whether as a result of new information or future

events. For any forward-looking statements contained in this or any other document, we

claim the protection of the safe harbor for forward-looking statements contained in the

PSLRA.

Safe Harbor Statement *

(*) Non-US GAAP reconciliations are disclosed in our 8-K/10-K/10-Q filings available at www.sec.gov or www.autoliv.com

Highlights

Solid performance in a challenging environment

(*) Excludes legal costs & other charges related to the on-going anti-trust investigations and alignment costs

Sales guidance met

•

organic sales growth 1.5%

Margin* guidance slightly exceeded

•

EBIT margin 9.4%

EPS* $1.58

•

partly driven by lower tax rate and financial net

Cash flow as expected

•

~ $0.25B operating cash flow

ALV Q4’12 Financial Earnings Report

ALV

Q4’12

Financial

Earnings

Report

Mixed Market Conditions

The tale of two cities

(*) Growth Markets excludes WEU, North America & Japan, CPV (Content per Vehicle),

(LVP) Light Vehicle Production according to IHS @ January 16, 2013.

2013 LVP in WEU similar to Q4’12 run rate

000’s

2008

4,141

4.178

3,250

2.749

14,318

2009

2,471

3,024

2,968

3,271

11,734

2012

3,555

3.230

2,792

2,978

12,554

2013

3,076

3.069

2,642

3,060

11,847

•

LVP declining back to 2009 levels

•

CPV ~ $400

000’s

2008

7,332

7694

6,890

6,312

28,229

2009

6,022

7,323

7,744

8,853

29,942

2012

10,493

10,630

10,203

11,193

42,519

2013

10,807

11,213

11,217

11,935

45,173

•

LVP setting new record levels

•

CPV ~ $200

ALV

Q4’12

Financial

Earnings

Report

Continued Strategy Execution

In a challenging environment

Capacity alignment activities while investing in growth markets

Record order intake

Continued investments in technology and growth markets

Capacity alignment progressing

Strong balance sheet for;

•

growth opportunities

•

uncertain environment

ALV Q4’12 Financial Earnings Report

Renault Clio

Ford B-Max

Euro NCAP Today

2012 Best in Class 5 Star Models

BMW 3-Series

Hyundai Santa Fe

Fiat 500L

Ford Transit

Ford Kuga

Volvo V40

ALV Q4’12 Financial Earnings Report

Euro NCAP in the Future

Migration towards Active Safety

2014

•

Active Safety weighting increases from 10% to 20%

•

Active Safety required to achieve 5 Star

•

Euro NCAP points of focus for Active Safety

•

Lane Departure Warning, Autonomous Braking

•

Intelligent Speed Assist (50% urban)

2017

•

Active Safety required to achieve 4 Star

•

Euro NCAP points of focus for Active Safety

•

Lane Departure Warning, Autonomous Braking

•

Intelligent Speed Assist (100% urban)

Active Safety technologies are under evaluation by NHTSA for the new US NCAP

Investments for Growth

Active and Passive Safety Technologies

ACTIVE

SAFETY

NIGHT VISION

Automatic Animal Detection

Dynamic Spot Light

Sensor Fusion NIR / FIR

STEREO VISION

Pedestrian Detection

RADAR

LRR Narrow Band

Multi-Mode

PASSIVE

SAFETY

BAG-IN-BELT

KNEE AIRBAG

ACTIVE SEATBELT

PEDESTRIAN AIRBAG

DUAL PRETENSIONING

Estimate ~ 5% CAGR in our automotive safety market from 2012

thru 2015

ALV Q4’12 Financial Earnings Report

SAFETY DOMAIN CONTROLLER

Brake Controls Integration

with Airbag ECU

Investments for Growth

Facility expansions

China

Jintan

(propellant)

Changchun

Guangzhou

Nanjing

Shanghai

India

Webbing

Thailand

Cushion cut&sewn

Sweden

Radar

U.S.

Radar

Romania

Steering Wheel

Indonesia

Seatbelt & Airbag

Russia

Seatbelt & Airbag

Investing ~ $0.5BM on growth initiatives in 2011 and 2012

Poland

Airbag

Turkey

Airbags, Seatbelts, Steering

Wheel, Component Manufacturing

Brazil

Airbags, Seatbelts, Steering

Wheel, Webbing

ALV Q4’12 Financial Earnings Report

(seatbelts & airbags)

(seatbelts)

(ECU’s & crash sensors, Tech

Center)

ALV Q4’12 Financial Earnings Report

(*) Non US GAAP and restated for ASC 810-10-45.

Cash Flow

Investments for growth in CapEx and RD&E

(US $ Mil’s unless specified)

2012

2011

2012

2011

2010

2009

Net Income

140

160

486

627

596

Depreciation & Amortization

273

268

282

314

Other, net

(4)

(41)

Change in operating WC

(80)

(175)

(11)

207

Operating cash flow

241

293

689

758

924

493

Capital Expenditures, net

(99)

(100)

(360)

(357)

(224)

(130)

Free cash flow *

142

193

329

401

700

363

Dividend payment

178

154

Strong operating cash flow and dividend payment increased YoY

Dividend Trend

Per share and cash payments*

Dividend per share

Dividend Payments

* Estimated

dividend

payment

for

2013

based

count

end

quarter

2012

Annualized payment to shareholders ~ $190M based on $2.00 per

0.5

0.4

0.3

0.2

0.1

ALV

Q4’12

Financial

Earnings

Report

1997

2000

2010

FY Financial Overview

Record sales and dividend per share

Solid result despite LVP decline YoY in WEU ~ 8%

(*) Non

GAAP

Earnings

Before

Interest

and

Taxes,

Earnings

per

share,

Return

Capital

Employed,

Return

Equity

(**) US

GAAP

reported,

Dividend

per

(***)

IHS

Global

Light

Vehicle

Production

(US $ Mil’s unless specified)

2012

2011

Sales

$8,267

$8,232

Gross Profit

$1,646

19.9%

$1,728

21.0%

EBIT *

$803

9.7%

$908

11.0%

EPS *

(assuming dilution)

$5.82

$6.80

RoCE *

24%

28%

RoE *

15%

20%

Operating Cash flow

$689

$758

DPS **

$1.89

$1.73

GLVP ***

~ 80M

~ 75M

ALV

Q4’12

Financial

Earnings

Report

(*) Light

Vehicle

Production,

Source

IHS

January

16,

2013,

TRIAD

(WEU,

North

America,

Japan),

(**)

Includes

Acquisitions

Autoliv Production**

FY2012

Maintaining ~ 36% global passive safety market share

Units in Millions (unless specified)

2012

Change vs.’11

Seatbelts

139.1

•

Pretensioners

(of which)

[54.9]

[3%]

•

Active Seatbelts

(of which)

1.6

40%

Frontal airbags

35.1

Knee airbags

2.5

89%

Side airbags

72.0

•

Chest (Thorax)

37.3

•

Head (Curtain)

34.7

Steering Wheels

12.9

Electronic Control Units

13.6

Active Safety Units

1.6

79%

LVP* TRIAD

37.2

LVP* GLOBAL

79.7

ALV

Q4’12

Financial

Earnings

Report

Mercedes S-Class

Hyundai Genesis

Toyota Highlander

Acura MDX

GMC Sierra

Citroën C4 Picasso

Jeep Cherokee

BMW X5

Peugeot 309

* Images may not reflect new model

Major Platform Launches

FY2013

ALV

Q4’12

Financial

Earnings

Report

Looking Ahead

Q1 2013

(*) Earnings Before Interest & Taxes excludes legal costs & other charges related to the on-going anti-trust investigations & alignment costs

Sales

•

YoY organic sales decline ~ (4%)

EBIT* Margin ~ 8%

•

Sequential change is mainly due to lower engineering income

mainly related to the sharp LVP decline in WEU and Japan

mainly related to Q4 launches

ALV

Q4’12

Financial

Earnings

Report

•

Sequentially organic sales up slightly

•

YoY change is mainly due to organic sales drop

•

2 half improvement due to organic sales growth in active safety,

launches and underlying LVP improvement

•

half lower due to higher RD&E and continued low level LVP in WEU

Early Indication

FY2013

Sales

EBIT* Margin ~ 9%

•

YoY organic sales effect offset by higher RD&E and temporary margin

effect from increasing vertical integration and growth

H1 vs. H2

(*) Earnings Before Interest & Taxes excludes legal costs & other charges related to the on-going anti-trust investigations & alignment costs

strong

growth

Active

Safety

China

favorable launch mix

partially offset by lower LVP in WEU & Japan

ALV

Q4’12

Financial

Earnings

Report

•

YoY

organic

sales

growth

Financial Outlook

Q1 2013

FY2013

Sales

Organic

(4%)

1 to 3%

Acquisitions /

(Divestitures)

~ (0.4%)

~ (0.2%)

Fx**

~ 0.1%

~ 1.1%

Consolidated Sales

~ (4%)

2 to 4 %

EBIT Margin *

~ 8 %

~ 9 %

(*) Excludes legal costs & other charges related to the on-going

anti-trust investigations and alignment costs

(**) 1 Euro = 1.33 US$, 1 US$ = 89JPY for Q1’13 & FY2013

ALV

Q4’12

Financial

Earnings

Report

Autoliv

Every year, Autoliv’s products

save over 25,000 lives

Passive

Safety

Active

Safety

Autoliv -

Safety Systems

Thank you!

ALV

Q4’12

Financial

Earnings

Report

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