Autoliv Q2 2020 Earnings Report
Key Takeaways
Autoliv's Q2 2020 results were significantly impacted by the COVID-19 pandemic, with net sales of $1,048 million and a 48% organic sales decline. The company implemented substantial cost reductions, including personnel costs, and launched Structural Efficiency Program phase II. Despite the challenges, the liquidity position remains strong with $1.7 billion in cash and committed loan facilities.
Organic sales declined 2.6pp more than global light vehicle production declined.
Profitability and cash flow were negatively impacted by customer plant closures and a volatile industry ramp-up.
Liquidity position remains strong with $1.7bn in cash and committed, unused loan facilities.
Substantial cost reductions with short- and long-term effects, including reduction of personnel costs by 25% vs. Q1.
Autoliv
Autoliv
Forward Guidance
No indications will be provided until effects of COVID-19 pandemic can be better assessed.