Autoliv Inc (ALV) has reported an 8.03 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $143.90 million, or $1.62 a share in the quarter, compared with $133.20 million, or $1.51 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $144.20 million, or $1.65 a share compared with $147 million or $1.66 a share, a year ago. Revenue during the quarter grew 7.33 percent to $2,608.10 million from $2,430 million in the previous year period. Gross margin for the quarter expanded 18 basis points over the previous year period to 20.80 percent. Total expenses were 91.66 percent of quarterly revenues, up from 91.56 percent for the same period last year. That has resulted in a contraction of 10 basis points in operating margin to 8.34 percent.
Operating income for the quarter was $217.60 million, compared with $205.20 million in the previous year period.
However, the adjusted operating income for the quarter stood at $220.30 million compared to $222.10 million in the prior year period. At the same time, adjusted operating margin contracted 69 basis points in the quarter to 8.45 percent from 9.14 percent in the last year period.
Operating cash flow drops significantly
Autoliv Inc has generated cash of $149.20 million from operating activities during the quarter, down 25.59 percent or $ 51.30 million, when compared with the last year period. The company has spent $121.40 million cash to meet investing activities during the quarter as against cash outgo of $318.60 million in the last year period.
The company has spent $44.80 million cash to carry out financing activities during the quarter as against cash outgo of $64.70 million in the last year period.
Cash and cash equivalents stood at $1,235.20 million as on Mar. 31, 2017, up 6.34 percent or $73.60 million from $1,161.60 million on Mar. 31, 2016.
Working capital remains almost stable
Autoliv Inc has witnessed a decline in the working capital over the last year. It stood at $1,627.70 million as at Mar. 31, 2017, down 0.97 percent or $15.90 million from $1,643.60 million on Mar. 31, 2016. Current ratio was at 1.60 as on Mar. 31, 2017, down from 1.68 on Mar. 31, 2016.
Cash conversion cycle (CCC) has decreased to 33 days for the quarter from 50 days for the last year period. Days sales outstanding went down to 69 days for the quarter compared with 72 days for the same period last year.
Days inventory outstanding has decreased to 17 days for the quarter compared with 35 days for the previous year period. At the same time, days payable outstanding went down to 52 days for the quarter from 57 for the same period last year.
Debt moves up marginally
Autoliv Inc has witnessed an increase in total debt over the last one year. It stood at $1,548.90 million as on Mar. 31, 2017, up 1.35 percent or $20.70 million from $1,528.20 million on Mar. 31, 2016. Total debt was 18.18 percent of total assets as on Mar. 31, 2017, compared with 18.76 percent on Mar. 31, 2016. Debt to equity ratio was at 0.38 as on Mar. 31, 2017, down from 0.40 as on Mar. 31, 2016. Interest coverage ratio improved to 13.43 for the quarter from 13.24 for the same period last year.
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