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Autoliv's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: ALV

Moving on to the next page, I would like to start out today’s earnings call by mentioning another new innovation milestone in automotive safety. Earlier today, we announced that we have developed and will introduce the world’s first integrated vehicle safety control system.

This advanced technology combines the electronic brake controller with our electronic restraint controller. This reduces overall system complexity and cost while improving performance. This breakthrough in combining active and passive safety is a major step forward in achieving our accident prevention strategy. If you recall, just three years ago, we introduced the first integrated stability control sensor cluster and air bag ECU, which has now become an industry standard. Congratulations to the Autoliv Active Safety team for this achievement.

As illustrated on the next page, we introduced two new active safety technologies during the quarter. We launched our first mono-vision camera with BMW. This camera system provides the driver with accident avoidance features.

These include forward collision warning, lane departure warning, automatic high beam switching, as well as traffic sign recognition. We also launched our first radar introduction for a compact car platform as expanded feature on the Mercedes B-Class. This is particular application Mercedes is using our 24-gigahertz radar for adaptive braking and blind spot assist. All of these advances paved the way for further future enhancement to the safety system.

These examples also show that customers’ confidence in Autoliv as a technology partner in the emerging industry of active safety. Moving on to the next page, we continue to execute our operational and growth strategies. Our actions have resulted in outperforming the global light vehicle production for the eighth consecutive quarter and achieving a double-digit operating margin for the seventh consecutive quarter.

For the first time ever, our sales on a trailing 12 months exceeding $8 billion and we had a very strong operating cash flow.

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