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Autoliv's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Moving on to the next slide, we continue to execute on our operational and growth strategies. We outperformed the global light vehicle production for the ninth consecutive quarter. Consequently, our full year sales exceeded $8 billion for the first time ever. We also continued to deliver double-digit margins for the eighth consecutive quarter and achieved our margin guidance for both the fourth quarter and full year 2011.

Our growth in active safety continues at a strong pace and we remain on track to achieve a 30% market share by 2015. For full year 2012, we expect more than 1 percentage points of our company's total outperformance versus global light vehicle production to come from growth in active safety.

In China, we grew almost four times more than light vehicle production and reached close to 35% market share in airbags and seatbelts. For full year 2012, we expect to grow more than two times the light vehicle production in China.

As to the antitrust investigations, I can only say that they are still ongoing and we therefore cannot provide any additional information at this time. Overall, we continue to balance our margin and cash flow performance with long-term growth.

Turning the page, we have our fastest growing product line, active safety. Over the last four years, we have completed three radar acquisitions and now have one of the most comprehensive product portfolios in the automotive industry. In 2012, we expect to almost double our radar sensor production from last year. This is partially due to more standard equipment on model such as the Mercedes B-Class. Consequently, our investments in RD&E and acquisitions in active safety are paying off.

Moving on to the next page, we achieved record sales and gross profit for the fourth quarter. Our organic sales growth was 2 percentage points below our expectation mainly due to the flooding in Thailand and some softening of production in Europe. However, our organic sales of 7% was 6 percentage points better than the global light vehicle production.

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