Autoliv(US:ALV)2024-07-19 15:40Financial Performance - Autoliv's Q2 2024 consolidated sales were $2605 million, a decrease of 1% compared to Q2 2023's $2635 million[16] - Adjusted operating income increased to $221 million with an 8.5% margin, compared to $212 million with an 8% margin in Q2 2023[16] - Operating cash flow decreased from $379 million in Q2 2023 to $340 million in Q2 2024[16] - The company repurchased shares worth $160 million and paid a dividend of $0.68 per share[6] - Autoliv expects an operating cash flow of around $1.1 billion for the full year 2024[66] Market Dynamics - Global Light Vehicle Production (LVP) is expected to decline by approximately 3% in 2024[65] - Autoliv's organic sales growth outperformed global LVP by more than 1 percentage point[21] - In Q2 2024, LVP in China accounted for 18%, Americas 34%, Japan 8%, Europe 29%, and Rest of Asia 11% of total sales[19] Cost Reduction and Efficiency - The company reduced indirect headcount by around 1,100, representing more than 5%[6] - Autoliv is progressing with structural cost reduction activities[6] Sustainability - Autoliv successfully phased out the greenhouse gas Sulfur hexafluoride (SF6) in steering wheel production[31] - The company is increasing its use of renewable electricity, supporting its ambition of climate neutrality in its own operations by 2030[31]