QUOTE AND NEWS
Automotive World  Oct 23  Comment 
For the three-month period ended September 30, 2014, Autoliv, Inc. (NYSE: ALV and SSE: ALIV.Sdb) – the worldwide leader in automotive safety systems – reported consolidated sales of $2,208 million, the highest third quarter sales ever for the...
Benzinga  Oct 21  Comment 
In a report published Tuesday, Susquehanna Financial Group analyst Matthew Stover initiated coverage on Autoliv (NYSE: ALV) with a Neutral rating and $99.00 price target. In the report, Susquehanna Financial Group noted, “Autoliv is a company...
Market Intelligence Center  Oct 17  Comment 
A covered call identified by MarketIntelligececenter.com's patented algorithm on Autoliv Inc (ALV) could yield about 4.48% (25.56% annualized, for comparison purposes only) in 64 days. Pair a long position in the stock with the Dec. '14 $90.00...
Market Intelligence Center  Sep 25  Comment 
Option-trade picking algorithms patented by MarketIntelligenceCenter.com found a trading opportunity with Autoliv Inc (ALV) that should provide a 2.39% return in just 86 days. Sell one Dec. '14 call at the $95.00 level for each 100 shares of...
Benzinga  Sep 24  Comment 
Analysts at Exane initiated coverage on Autoliv (NYSE: ALV) with a Outperform rating. The target price for Autoliv is set to $118. Autoliv shares have gained 7.87% over the past 52 weeks, while the S&P 500 index has surged 17.13% in the same...
Benzinga  Sep 18  Comment 
Analysts at Credit Suisse initiated coverage on shares of Autoliv (NYSE: ALV) with a Neutral rating. The target price for Autoliv is set to $112. Autoliv shares have gained 12.59% over the past 52 weeks, while the S&P 500 index has surged...
Automotive World  Aug 22  Comment 
Autoliv, the worldwide leader in automotive safety, today participated in the inauguration of the world’s first fully equipped full scale test track for traffic safety. The test site named AstaZero is located outside Borås, Sweden. Autoliv has...
Market Intelligence Center  Aug 22  Comment 
Option-trade picking algorithms patented by MarketIntelligenceCenter.com found a trading opportunity with Autoliv Inc (ALV) that should provide a 2.19% return in just 57 days. Sell one Oct. '14 call at the $100.00 level for each 100 shares of...




 

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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