2023 in Summary
At Autoliv, we challenge and redefine the standards of mobility safety to sustainably deliver leading solutions.
We develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels, for all major automotive manufacturers in the world. In 2023, our products saved 35,000 lives and reduced more than 450,000 injures.
The world is changing at an accelerating pace and Autoliv launched a number of strategic initiatives in 2023 to meet the needs of its customers, to enhance shareholder value, and deliver safe mobility solutions for society. During the year, Autoliv delivered significantly improved profits supported by new collaborations, footprint optimization, structural cost reductions, cost compensations, and a committed focus on sustainability, innovation, and quality.
Key Figures 2023
$
10.5
b
net sales
8.8
%
adjusted operating margin*
$
982
m
operating cash flow
23
%
renewable electricity use
70,300
associates worldwide
45
%
market share
29
%
improvement in GHG emissions intensity
$
577
m
shareholder returns
*) Non-U.S. GAAP Measure. See "Non-U.S. GAAP Performance Measures" section in the 10-K filed with the SEC.
Share of total sales by division
Financial Key Targets
Average annual organic sales growth
Adjusted operating margin
2022-2024
LVP+ ~4%
Average annual organic growth* Excluding compensations
Long-Term (beyond 2024)
4-6%
Average annual organic growth
Target
~12%
Adjusted operating margin*
Long-Term Ambition
~13%
Adjusted operating margin*
70 Years of Saving More Lives
In 2023, Autoliv celebrated its 70 years anniversary. The Autoliv story began in 1953 when two brothers, Lennart and Stig Lindblad, founded a small automotive parts and service company in Vårgårda, Sweden.
1953
The company is founded by Lennart Lindblad under the name Lindblads Autoservice AB. After 25 years, Lennart Lindblad leaves the company in 1977
1956
The founder Lennart Lindblad develops the company’s first seatbelt, a two-point static belt.
1980
Autoliv becomes a subsidiary of Electrolux when the household goods manufacturing group acquires Gränges AB, an industrial conglomerate. In 1984, the Company’s name is changed to Electrolux Autoliv AB.
1997
Autoliv Inc. is formed through a merger of Autoliv AB, Europe’s leading automotive safety company, and Morton ASP, the leading airbag manufacturer in North America and Asia. Morton ASP began airbag production in 1980.
1998
Our inflatable curtain side airbag is introduced. It protects the occupants’ heads in a side-impact collision and covers the upper side of the vehicle.
2012
The world's first outside pedestrian protection airbag. This helps car manufacturers meet stricter Euro NCAP requirements. Autoliv introduces the environmentally friendly airbag inflator APG, recognized by the PACE Award.
2018
Autoliv spins off its electronics segment. The new independent company, Veoneer Inc., begins trading on the New York Stock Exchange and Nasdaq Stockholm on July 2, 2018.
2022
Introducing airbag systems for motorcycles. The system is mounted on the vehicle frame and will deploy in milliseconds, for greater rider safety
2023
For 70 years, we have been pioneers in automotive safety solutions and we have delivered many world firsts to the market. Brave decisions, a focus on quality and a desire to remain at the technological forefront have made Autoliv a worldwide market leader.
Driving Improvements in All Areas of Our Business
Through the Autoliv Awards and Recognition Program, we acknowledge and recognize colleagues who exceed expectations in enhancing Autoliv’s performance and profitability. Below are the 2023 winning projects:
- Health, Safety and Sustainability: Machine safety improvements
- Quality: Airbag cushion folding process
- Operations Excellence – Production: Reducing helium consumption
- Operations Excellence – Non-Production: Leadership Academy
- Innovation: Successful design of a steering wheel with an illuminated logo
Strategy for Change
Autoliv's Strategic Framework consists of four elements that directly support our financial and sustainability objectives and targets.
Our focus areas require everyone's commitment in order to realize our strategy and meet our objectives and targets:
- Customer Focus
- Competitive Products and Solutions
- Efficient Value Delivery
- The Autoliv Way
Autoliv currently delivers products to around 100 vehicle brands around the world and has a leading market position with almost all OEMs.
At Autoliv, we are accelerating our innovation agenda which is shaped by industry megatrends, key industry technology and product development.
We align our value chain to ensure value is delivered to our customers at the right time, in the right location, with the right quality, at the right cost and with the right capital intensity.
Our position as a worldwide leader in automotive safety systems, saving 35,000 lives every year, is achieved by our 70,000 outstanding colleagues around the world.
Products for Saving More Lives
A Driving Force in Sustainable Mobility
Guided by our vision of Saving More Lives, our mission is to provide world-class, life-saving solutions for mobility and society. Sustainability is an integral part of our business strategy and a fundamental driver for market differentiation and stakeholder value creation, helping to ensure that our business will continue to thrive and contribute to sustainable development in the long term. To truly be a driving force in sustainable mobility, we strive to systematically assess and manage key impacts, risks and opportunities to society and the environment related to our business, operations and supply chain. We also engage with our customers to ensure that we are part of driving the transition to low-carbon and circular mobility, thus realizing new business potential for us and our customers.
Saving More Lifes
As the global leader in automotive safety, our core business, supported by multi-level stakeholder engagement, is making a significant contribution to global road safety.
Climate and Circularity
Autoliv’s approach aims to significantly reduce greenhouse gas (GHG) emissions and increase circular use of materials, also supporting its customers’ transition to low carbon friendly mobility
A Safe and Inclusive Workplace
Health, safety, and inclusion are pillars of our people strategy, ensuring that we create value from and for our most valuable asset - our employees.
Responsible Business
Responsible business practices are key in ensuring that we understand the impacts of our business operations, comply with laws and regulations, and meet stakeholder expecations.