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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Autoliv Inc | LSE:AAR | London | Ordinary Share | SE0000382335 | USD1 SDR |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3,018.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
STOCKHOLM, Jan. 26, 2018 /PRNewswire/ --
Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb), today announces a one-time, non-cash, goodwill impairment charge and specifies expected one-time costs related to the planned spin-off and public listing of its Electronics business.
One-time goodwill impairment charge
Update of expected costs relating to spin-off of Electronics business
The spin-off of Electronics is progressing according to schedule and is expected to be completed during the third quarter of 2018, subject to market, regulatory and certain other conditions, including approval by Autoliv's board of directors. The spin-off is as previously communicated expected to be tax free to Autoliv shareholders.
Autoliv will be able to address questions related to the spin-off of the Electronics business during the fourth quarter 2017 earnings teleconference call scheduled for January 30, 2018 at 14.00 CET.
Background to financial reporting of Autoliv Nissin Brake Systems
Autoliv consolidates ANBS financials in full in its consolidated statement of net income and consolidated balance sheets. Autoliv owns 51% of ANBS, and the 49% minority interest is reported in the "Net income (loss) attributable to non-controlling interest" line in the income statement and in the "Non-controlling interest" line in the balance sheet. The recording of the non-cash impairment of goodwill was made as a part of the preparation and audit of Autoliv's financial statements for 2017.
Media Inquiries:
Thomas Jönsson, Group Vice President Communications.
Tel +46 (0)8 58 72 06 27
This information is information that Autoliv, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 08.30 CET on January 26, 2018.
About Autoliv
Autoliv, Inc. is the worldwide leader in automotive safety systems, and through its subsidiaries develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has more than 80 facilities with 70,000 employees in 27 countries. In addition, the Company has 22 technical centers in ten countries around the world, with 19 test tracks, more than any other automotive safety supplier. Sales in 2016 amounted to about US $10.1 billion. The Company's shares are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on Nasdaq Stockholm (ALIV sdb). For more information about Autoliv, please visit our company website at www.autoliv.com.
Safe Harbor Statement
This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements related to the completion and timing of the proposed spin-off, the estimated project costs and tax costs associated with the separation and spin-off, the future performance of the Passive Safety and Electronics businesses on a stand-alone basis if the spin-off is completed, the outlook for Passive Safety and Electronics as separate businesses if the spin-off is completed, the expected strategic, operational and competitive benefits of the proposed spin-off and the effect of the separation on Autoliv and its stakeholders and those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.
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http://news.cision.com/autoliv/r/autoliv-records-non-cash-charge-and-specifies-spin-off-costs,c2438664
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SOURCE Autoliv
Copyright 2018 PR Newswire
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