Autoliv, Inc. - ALV STOCK NEWS

Autoliv (NYSE: ALV) reported strong Q1 2023 results, achieving $2,493 million in net sales, marking a 17% increase compared to the previous year. The company experienced a remarkable 21% organic sales growth, significantly outperforming the global LVP growth of 6.1%. Despite these gains, EPS dropped by 9% to $0.86, though adjusted EPS soared 99% to $0.90. Operating income decreased 5.4% to $127 million, with an operating margin of 5.1%. Looking forward, Autoliv anticipates about 15% organic sales growth for the full year, with a negative FX impact of around 1%.

Autoliv (NYSE: ALV) announced plans to establish a new airbag cushion and fabric plant in Vietnam to meet the growing demand for airbag production in Asia. This state-of-the-art facility, located in Amata City Ha Long Industrial Park, will cover around 90,000 sqm and is slated to begin operations by late 2025, eventually employing up to 2,000 people. The investment is part of Autoliv's strategy to enhance its manufacturing capabilities and reduce costs while addressing customer demands for safety products in the expanding Asian market. This marks Autoliv's first investment in Vietnam.

The Board of Directors of Autoliv, Inc. (NYSE: ALV; SSE: ALIVsdb) announced the renewal of its €3,000,000,000 guaranteed euro medium term note (EMTN) programme for another year, approved on February 14, 2023. This renewal enables the company to leverage funding opportunities through future note issuances, guaranteed unconditionally by Autoliv ASP, Inc. The Base Listing Particulars were approved by Euronext Dublin and are accessible online. In 2022, Autoliv generated sales of $8.8 billion and saved approximately 35,000 lives through its safety systems. This EMTN renewal indicates a strategic move to enhance funding flexibility in capital markets.

Autoliv, Inc. (NYSE: ALV) has filed its 2022 Annual Report on Form 10-K with the SEC, available at both the SEC Edgar website and Autoliv's website. Additionally, the company submitted its 2022 Update and Sustainability Report to the Swedish Financial Supervisory Authority. In 2022, Autoliv recorded sales of $8.8 billion and significantly contributed to road safety, saving approximately 35,000 lives and preventing over 450,000 injuries. Shareholders can request hard copies of the audited financial statements via email.

On January 31, 2023, Autoliv, Inc. (NYSE: ALV) announced a reduction in its total issued shares following the retirement of 10,000,000 treasury shares. The total number of outstanding shares is now 86,187,746, while the total issued and outstanding shares are 91,167,783. This action had no effect on the voting rights or ownership percentage, as treasury shares do not hold voting rights. Autoliv continues to retain 4,980,037 shares in treasury. The disclosure complies with the Swedish Financial Instruments Trading Act.