QUOTE AND NEWS
Benzinga  Nov 29  Comment 
  Analysts at Jefferies initiated coverage on Autoliv Inc. (NYSE: ALV) with a Buy rating. The price target for Autoliv is set to $112. Autoliv shares closed at $102.92 on Monday. Analysts at Credit Suisse initiated coverage on Royal...
Reuters  Nov 22  Comment 
Takata Corp has shortlisted Sweden's Autoliv Inc and U.S. parts supplier Key Safety Systems as potential bidders for the Japanese airbag maker at the center of the world's biggest...
Benzinga  Nov 16  Comment 
Trip Chowdhry of Global Equities Research has never shied away from explaining his uber-bearish stance on many technology stocks, including Mobileye NV (NYSE: MBLY). Chowdhry's Advantage 'Not Durable' Chowdhry reiterated his negative stance on...
Wall Street Journal  Nov 16  Comment 
Daicel is no longer a strong contender to take over troubled Japanese air-bag maker Takata, and car makers are instead looking with favor toward Sweden’s Autoliv.
Reuters  Nov 16  Comment 
* Daicel is no longer a strong contender to take over Takata and car makers are instead looking with favor toward Autoliv - WSJ, citing sources Source text: http://on.wsj.com/2fwA7aE
Automotive World  Nov 16  Comment 
Lennart Lindblad, founder of Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), was awarded the 2016 Polhem Prize, Sweden’s most prestigious innovation award for cutting-edge innovations. Lennart Lindblad invented significant improvements to the seat...
Automotive World  Nov 11  Comment 
Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive safety systems, joins international research program about human user’s interaction with autonomous vehicles. The program, called ADAS&ME, involves 30 partners from...
Forbes  Nov 10  Comment 
Looking at the universe of stocks we cover at Dividend Channel, on 11/14/16, Fresh Del Monte Produce Inc. (NYSE: FDP), Autoliv Inc. (NYSE: ALV), and Archer Daniels Midland Co. (NYSE: ADM) will all trade ex-dividend for their respective upcoming...




 

Autoliv, Inc. (NYSE: ALV) manufactures protection systems for automobiles, with a product portfolio consisting primarily of safety airbags, seat belts, and steering wheels.[1] Autoliv sells its products to automobile manufacturers such as Ford Motor Company (F), Nissan Motor (NSANY), General Motors (GM), and Volkswagen (VLKAY).[2]

Autoliv is the largest airbag and seat belt producer with 33% of the world market. Despite Autoliv's large size, it is heavily exposed to a few customers as sales to the company's five largest customers comprise nearly 60% of Autoliv's revenues.[3]

Business Overview

Business & Financial Metrics[4]

In 2009, ALV generated a net income of $10 million on revenues of $5.12 billion. This represents a 93.9% decrease in net income and a 20.9% decrease in revenues from 2008, when the company earned $165 million on $6.47 in revenues.

Business Segments

Autoliv's main products are airbags and seat belts, but the company also makes related automobile safety products, including night vision systems, steering wheels, and electronic control systems.[5] The company operates through a single reportable operating segment.[6]

Airbags and Associated Products

Airbags and Associated Products manufactures airbags and related products, such as airbag inflators and modules that control when the airbags deploy.[7] Autoliv's airbags include innovations such as the "Safety-Vent Airbag" which changes size and shape based on the weight and build of the driver or passenger it is protecting. Due to new federal laws in the U.S. requiring that all passenger vehicles in the United States have side curtain airbags by 2012, Autoliv said it expects side curtain airbags to be this segment's strongest growth driver.[8]

Seat Belts and Associated Products

In addition to seat belts, the Seat Belts and Associated Products segment makes related components like pretensioners, which tighten the seat belt right before a crash to help prevent injury, and load limiters, which loosen seat belt tension in a controlled way to decrease pressure on the occupants chest.[9]

Key Trends and Forces

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Exchange rates affect ALV's revenues

Because Autoliv reports its revenue in U.S. dollars but does 75% of its business outside of North America, its revenue is highly exposed to fluctuations in exchange rates. When foreign currencies depreciate, the dollar value of Autoliv's international revenues decreases. On the other hand, when the value of the dollar decreases (foreign currencies appreciate), the dollar value of Autoliv's international revenues increases.

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References

  1. ALV 2007 10-K Exhibit 13: Note 19 to Consolidated Financial Statements
  2. ALV 2007 10-K Exhibit 13: Note 19 to Consolidated Financial Statements
  3. ALV 10-K Risk Factors: Our business could be materially and adversely affected if we lost any of our largest customers
  4. ALV 2009 10-K Ex-13  
  5. ALV 2007 10-K Item 1 Business: Business
  6. ALV 2009 10-K  
  7. ALV 2007 10-K Item 1 Business: General
  8. ALV 2007 Annual Report: Technology, pg 18
  9. ALV 2007 Annual Report: Autoliv-Driven for Life, pg 3
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