Autoliv Inc. reported a consolidated net sales figure of $10.39 billion for the fiscal year ending December 31, 2024, reflecting a decrease of 0.8% compared to $10.48 billion in 2023. The company's operating income rose significantly to $979 million, a 42% increase from the previous year's $690 million, resulting in an operating margin of 9.4%, up from 6.6% in 2023. Net income attributable to controlling interest also saw a notable increase, reaching $646 million, or $8.04 per diluted share, compared to $488 million, or $5.72 per diluted share, in the prior year.
The company experienced a decline in global light vehicle production (LVP) of approximately 1.2% in 2024, which impacted overall sales. However, Autoliv's organic sales growth outperformed LVP by 1.6 percentage points, driven by new product launches and improved customer call-off accuracy. The company noted that its market share in passive safety systems decreased slightly from 45% in 2023 to 44% in 2024, attributed to a shift in LVP growth towards lower content per vehicle regions, particularly in China.
Strategically, Autoliv has focused on enhancing its operational efficiency and quality management. The company implemented a cost reduction framework aimed at reducing indirect headcount by up to 2,000 and improving direct labor productivity, which is expected to yield annual savings of approximately $135 million. In 2024, the company completed around 1,400 of the planned indirect reductions and achieved its productivity target of at least 5% savings for the year. Additionally, Autoliv has expanded its product offerings to include mobility safety solutions, which are currently in development stages.
Operationally, Autoliv maintained a workforce of approximately 65,200 employees as of December 31, 2024, down from 70,300 in 2023. The company operates 62 production facilities across 23 countries, serving over 1,300 vehicle models and around 100 car brands. The company’s cash flow from operations increased to $1.06 billion in 2024, up from $982 million in 2023, indicating improved operational efficiency. Looking ahead, Autoliv anticipates organic sales growth of around 2% for 2025, with an adjusted operating margin projected between 10% and 10.5%. The company remains vigilant regarding potential geopolitical and economic challenges that could impact its operations and market conditions.
About AUTOLIV INC
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