Financial Report April - June 2019
STOCKHOLM, July 19, 2019 /PRNewswire/ -- Financial highlights Q2 2019
$2,155m consolidated sales1.5% organic sales growth*7.9% operating margin8.5% adj. operating margin*$1.25 EPS - a decline of 43%$1.38 adj. EPS* - a decline of 38%
Full Year 2019 indications
1% to 3% organic sales growth(1)% to 1% consolidated sales growth9.0% to 9.5% adj. operating margin
Key business developments in the second quarter of 2019
- Organic growth outperformed global light vehicle production by 9.1pp mainly due to Americas and China.Key business developments in the second quarter of 2019
- Profitability continued to be impacted by severe global LVP decline and high raw material costs.
- Accelerated cost improvement actions. Total workforce declined by 1,208 in the quarter, mainly direct labor. Initiated actions to reduce indirect headcount by about 5%. Additional restructuring measures are being evaluated.
- *For non-U.S. GAAP measures see enclosed reconciliation tables. All figures herein refer to continued operations, excluding former Electronics segment, unless stated otherwise. All change figures in this document compare to the same period of previous year, except when stated otherwise.
Key Figures
(Dollars in millions, except per share data) |
Q2 2019 |
Q2 2018 |
Change |
H1 2019 |
H1 2018 |
Change
|
Net sales |
$2,155 |
$2,212 |
(2.6)% |
$4,329 |
$4,452 |
(2.8)% |
Operating income |
$170 |
$229 |
(26)% |