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    Agnieszka Vilela • Nordea

    Agnieszka Vilela's questions to Autoliv Inc (ALV) leadership

    Agnieszka Vilela's questions to Autoliv Inc (ALV) leadership • Q2 2025

    Question

    Agnieszka Vilela from Nordea Bank questioned the pace of share buybacks, noting it was below the run-rate for the annual $300-500M ambition, and asked about the expected currency impact in the second half of the year.

    Answer

    CEO Mikael Bratt reaffirmed the full-year buyback commitment, explaining the slower H1 pace was a matter of prudence amid market volatility. CFO Fredrik Westin detailed the currency effects in Q2 and stated that for the full year, the guidance assumes a net zero currency translation effect on sales.

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    Agnieszka Vilela's questions to Autoliv Inc (ALV) leadership • Q1 2025

    Question

    Agnieszka Vilela asked about the impact of production pull-forwards in Q1 and whether it led to inventory stocking by OEMs. She also sought clarity on how tariff compensations are reflected in the P&L.

    Answer

    CFO Fredrik Westin explained it's difficult to quantify any pull-ahead effect but noted that strong call-offs continue into Q2, suggesting the effect was either small or is ongoing. He clarified that the majority of tariff compensations are filtered through sales, but the magnitude in Q1 was not large enough to have a meaningful effect on the top line.

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    Agnieszka Vilela's questions to Autoliv Inc (ALV) leadership • Q1 2025

    Question

    Agnieszka Vilela asked about the impact of production pull-forwards in Q1 and whether OEMs were also stocking up on Autoliv's products. She also inquired how tariff compensations are reflected in the company's P&L statement.

    Answer

    CFO Fredrik Westin explained that quantifying a pull-forward effect is 'incredibly difficult,' but noted that strong call-offs continuing into Q2 suggest the effect was either small or is ongoing. He clarified that the majority of tariff compensation flows through sales, although the amount in Q1 was not material enough to significantly impact the top line.

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    Agnieszka Vilela's questions to Autoliv Inc (ALV) leadership • Q4 2024

    Question

    Agnieszka Vilela from Nordea asked for the reason behind the marginal market share decline to 44% in 2024 and the outlook for 2025. She also sought clarity on the expected magnitude of the sequential operating margin decline in Q1 2025, given historical precedents and the weaker production forecast.

    Answer

    CEO Mikael Bratt explained the slight market share dip was primarily due to the rapid growth of BYD, which produces safety systems in-house and is therefore not included in the market share calculation, though Autoliv does supply them with components. He considers the share stable at around 45%. CFO Fredrik Westin addressed the Q1 margin, noting that while he wouldn't give specific guidance, the projected 14% sequential LVP decline is double the average of recent years, which will have a significant impact, potentially resulting in a margin drop not dissimilar to prior years.

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    Agnieszka Vilela's questions to Autoliv Inc (ALV) leadership • Q3 2024

    Question

    Agnieszka Vilela sought clarification on the nature of the supplier settlement and asked about the drivers behind Autoliv's strong outperformance in Europe and its potential sustainability.

    Answer

    CFO Fredrik Westin reiterated that he could not comment on the specifics of the legal case behind the supplier settlement. He attributed the strong European outperformance to significant recent product launches and successful cost compensation negotiations. CEO Mikael Bratt added that the European outlook is challenging but stable at current expectations.

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