Autoliv (ALIV) Q4 2000 earnings summary

Executive summary

• 2000 sales were $4.1 billion; operations spanned 29 countries, with approximately 28,000 employees and products supplied to nearly all major automakers.

• Product portfolio covered airbags, seat belts, steering wheels, safety seats and related occupant-protection systems.

Financial highlights

• Sales mix in 2000 was approximately 70% airbags and associated products and 30% seat belts and associated products.

• R&D expense was $195.7 million in 2000, versus $197.3 million in 1999 and $176.2 million in 1998.

• Joint venture operations generated approximately $328 million of sales to outside customers in 2000.

Outlook and guidance

• New U.S. smart-restraint rules require compliance for 35% of light vehicles in model year 2004, 65% the following model year and 100% in the third model year; expected to raise frontal-airbag unit prices and expand the North American market.

• Standardized production and assembly lines allow capacity adjustments within a few weeks, subject to raw-material and component availability.