Erik Pettersson-Golrang • SEB

Answer

CEO Mikael Bratt attributed the European outperformance to a favorable customer and product mix with European OEMs, partly driven by regulatory pull-forwards. He stated that tariff costs must be passed to the end consumer as the supply chain cannot absorb them. While declining to quantify the compensation, he confirmed they covered themselves in Q1 and are well-positioned with their U.S. footprint, but major capacity moves would require more stability.

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CEO Mikael Bratt attributed the strong European performance to a favorable customer and product mix with European OEMs. He declined to quantify the tariff compensation, calling the figure fluid and not meaningful. Bratt expressed confidence in passing on tariff costs, stating there is 'no logic' for the supply chain to absorb such costs, which are a cost of doing business. He noted that while Autoliv works with customers on mitigation, major investment decisions require more stability in the tariff landscape.

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CEO Mikael Bratt attributed the success in China to innovation, quality, and being an early partner to rising OEMs. CFO Fredrik Westin guided full-year CapEx at 5.5% of sales and stated that while the long-term target is around 5%, next year will likely remain slightly above that level due to ongoing footprint investments, though it should trend downward.

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