Autoliv, Inc. (NYSE:ALV) Q3 2023 Earnings Conference Call October 20, 2023 8:00 AM ET

Company Participants

Anders Trapp - VP, IR

Mikael Bratt - President & CEO

Fredrik Westin - CFO

Conference Call Participants

Emmanuel Rosner - Deutsche Bank

Colin Langan - Wells Fargo

Mattias Holmberg - DNB

Jairam Nathan - Daiwa

Giulio Pescatore - BNP Exane

Agnieszka Vilela - Nordea

Hampus Engellau - Handelsbanken

Rod Lache - Wolfe Research

Operator

Good day, and thank you for standing by. Welcome to the Autoliv Third Quarter 2023 Financial Results Conference Call. At this time, all participants are in a 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 speaker today, Anders Trapp. Please go ahead.

Anders Trapp

Thank you, Sandra. Welcome, everyone, to our third 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 third quarter, the structural cost reduction activities that we are doing to secure our long and medium-term competitiveness, and our updated full year indications, as well as provide an update on our general and business and market conditions. We will then remain available to respond to your questions. And as usual, the slides are available on 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-U.S. GAAP measures. The reconciliations of historical non-US GAAP measures are disclosed in our quarterly press release that is available on autoliv.com and in the 10-Q that will be filed with the SEC. And lastly, I should mention that this call is intended to conclude at 3:00 p.m. Central European Time. So please follow a limit of two (ph) questions per person.

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

Mikael Bratt

Thank you, Anders. Looking on the next slide. Our performance continued to improve substantially in the third quarter. First, I would like to thank our employees for their great contributions to the third quarter results and the efforts to further strengthen our near and medium-term competitiveness. Our organic sales grew double-digits, outperforming light vehicle production significantly, especially in Asia.