Earnings Call Excerpt
Autoliv, Inc. (ALV)
Q2 2009 Earnings Call
July 21, 2009 9:00 am ET
Executives
Jan Carlson - President and Chief Executive Officer
Mats Wallin - Chief Financial Officer
Mats Odman - Vice President of Corporate Communications
Analysts
Tim Rothery - Goldman Sachs
Rod Lache - Deutsche Bank
Thomas Besson - Bank of America-Merrill Lynch
David Leiker - Robert W. Baird
Adam Brooks - Sidoti & Co
Keith Lester - One Investment
Essen Peterberg - SEB Enskilda
Himanshu Patel - JPMorgan
Brett Hoselton - KeyBanc Capital Market
Richard Howe - Polaris Capital
Presentation
Operator
Good afternoon ladies and gentlemen and welcome to the Autoliv’s Conference Call. My name is Louise; I will be your coordinator for today's conference. For the duration of the call you'll be on listen-only, however, at the end of the call you'll have the opportunity to ask questions. (Operator Instructions).
I am now handing you over to Mr. Jan Carlson, President and CEO to begin today’s call.
Jan Carlson
Thank you, Louise. Welcome everyone to our presentation for the second quarter results. Here in Stockholm, we have our new CFO, Mats Wallin, and our VP, Corporate Communications Mats Ödman and me Jan Carlson, Chief Executive Officer.
Mats Wallin has been with the company since 2002, and served as Corporate Controller. Welcome Mats to your new role here in Autoliv. At the same time I would like to extend sincere thank you to Marika Fredriksson for her contribution to our company and also wish her the best of success in her new [role] as CFO for Gambro.
As usual we will start with a review of the quarterly results including an update on the Action Program, followed by the outlook for our company in the near-term. After the presentation, we will remain available for questions. You can find the slide material through a link on the front page of the Autoliv corporate website on the financial report.
Moving on to the next page, we will find the safe harbor statement, which as you know is an integrated part of this presentation. This presentation includes some non-US GAAP measures under reconciliation of the US GAAP are disclosed in the quarterly press release and the 10-Q filling.
Moving on to the next page. During the quarter global light vehicle production was 4 percentage points better than expected and up 17% sequentially from quarter one. In addition the quick implementation of our actions to right size our company has resulted in further cost savings with the best our margin improving effect than expected.
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