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Sweden's Autoliv reports 7.4% increase in net sales in FY22

20 Feb '23
2 min read
Pic: Autoliv
Pic: Autoliv

Sweden’s Autoliv, Inc, a leading manufacturer of automotive safety systems, has reported a 7.4 per cent increase in net sales for fiscal 2022, with net sales amounting to $8,842 million. However, the company's gross profit decreased by $115 million to $1,396 million, and the gross margin decreased by 2.6 percentage points to 15.8 per cent, compared to the previous year.

In FY22, the company’s selling, general, and administrative expenses increased by $5 million compared to the previous year. The company's operating income decreased by $16 million, primarily due to the lower gross profit, Autoliv said in a press release.

Earnings per share, diluted, in FY22 decreased by $0.11 compared to a year earlier, where the main driver was $0.19 from lower operating income, partly mitigated by $0.04 from financial items.

In the fourth quarter (Q4) of fiscal 2022, Autoliv, Inc reported a 10 per cent increase in net sales, amounting to $2,335 million, with an 8 per cent organic sales increase. The company's operating margin and adjusted operating margin were both 9.8 per cent and 10 per cent, respectively, while the earnings per share, diluted, increased by 38 per cent, and the adjusted EPS increased by 40 per cent.

All major product categories increased organically in Q4. The largest contributors to the increase were inflatable curtains and steering wheels, followed by side airbags and passenger airbags.

For the FY23, Autoliv is expecting around 15 per cent organic sales growth, but with a 1 per cent negative FX effect on net sales. The company is also targeting an adjusted operating margin of around 8.5-9 per cent, and is projecting around $900 million in operating cash flow.

Fibre2Fashion News Desk (DP)

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