Autoliv, Inc. (NYSE:ALV) Q2 2023 Earnings Call Transcript July 21, 2023 8:00 AM ET

Company Participants

Anders Trapp - Vice President-Investor Relations

Mikael Bratt - President and Chief Executive Officer

Fredrik Westin - Chief Financial Officer

Conference Call Participants

Emmanuel Rosner - Deutsche Bank

Bjorn Enarson - Danske Bank

Christopher McNally - Evercore ISI

Colin Langan - Wells Fargo

Michael Jacks - Bank of America

Mattias Holmberg - DNB

Dan Levy - Barclays

Rod Lache - Wolfe Research

Operator

Good day, and thank you for standing by. Welcome to the Autoliv Incorporated Second Quarter 2023 Financial Results Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Anders Trapp. Please go ahead.

Anders Trapp

Thank you, Nadia. So, welcome everyone to our second quarter 2023 earnings call. On this call, we have our President and CEO, Mikael Bratt; and our Chief Financial Officer, Fredrik Westin, and me, Anders Trapp, VP, Investor Relations.

During today's earnings call, Mikael and Fredrik will, among other things, provide an overview of the strong sales, earnings and cash flow development we had in the second quarter, the structural cost reduction activities that we're doing to secure our long and medium term competitiveness and also the expected sequential margin improvement that we see in Q3 and Q4 of this year, as well as provide an update on our general business and market conditions, as always. We will then remain available to respond to your questions. And as usual, the slides are available at autoliv.com.

Turning to the next slide, we have the Safe Harbor statement, which is an integrated part of this presentation, and includes the Q&A that follows. During the presentation, we will reference some non-US GAAP measures. The reconciliations of historical US GAAP to non-US GAAP measures are disclosed in our quarterly press release available on autoliv.com and in the 10-Q filed with the SEC.

Lastly, I should mention that this call is intended to conclude at 03:00 PM Central European Time. So, please follow a limit of two questions per person.

I will now hand over to our CEO, Mikael Bratt.

Mikael Bratt

Thank you, Anders. Looking on to next slide. I would like to start by thanking our employees for their great contributions. We saw continued improvement in customer call-off volatility in the quarter, but still higher volatility than pre-pandemic levels. We believe this reflects an improving global supply-chain environment for both our customers and suppliers.