Mikael Bratt

Member of Research Advisory Board, President, Chief Executive Officer & Director, AUTOLIV INC

Mikael Bratt, President and CEO, Autoliv

🎥 Mar 07, 2023 📺 UNRSF - UN Road Safety Fund ⏱ 2m 👁 295 views

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About Mikael Bratt

Mikael Bratt, President and CEO of Autoliv, has spoken at multiple company events between 2020 and 2024 about the company's strategy, financial targets, and road safety initiatives. At Autoliv's 2024 Supplier Conference, Bratt stated that the company expects an annual average growth of around 2% and noted that Autoliv reached an indicated market share of approximately 45%, with an ambition to defend that share. During the 2023 Investor Day, Bratt said Autoliv had reconfirmed its guidance for strong organic growth of 15% on top of light vehicle production growth of around 3%, and discussed a target adjusted operating margin of around 12%, cash conversion of 80% or higher, and a leverage ratio of one time over time. He also described structural cost reductions involving 2,000 positions in the indirect workforce and 6,000 in the blue-collar environment, and stated that the company had returned more than one billion US dollars to shareholders over the previous five years through dividends and buybacks. Bratt has also emphasized Autoliv's focus on road safety and sustainability. In a 2023 statement supporting the U.N. Road Safety Fund, he said that financing the fund is important for large transformative projects in low- and middle-income countries and that Autoliv is aligned with the fund's priorities. During a 2020 keynote, Bratt stated that Autoliv's products save over 30,000 lives per year and prevent ten times as many injuries, with a goal to increase lives saved to 100,000 per year. He called for cooperation among decision makers, authorities, and the automotive industry to improve safety for vulnerable road users, and noted that Autoliv files approximately 200 patents per year. In response to the COVID-19 pandemic in early 2020, Bratt described actions including adjusting production, reducing investments, furloughing personnel, and drawing $1.5 billion from a revolving credit facility to secure liquidity.

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Transcript (1 segments)

Mikael Bratt0:00

Because more than 1.3 million people are killed in the road transport system every year. Behind each number is a person, a family, a story. At Autoliv, road safety is our reason to be and our vision is saving more lives. Our 70-year history of developing safety solutions helps us understand what it takes to improve road safety. Progress has been made, but the ratio of improvements is not the same for all countries. As the progress in road safety is stagnating, we as a global community must do things differently. We must find enablers and accelerators for progress, so that the countries suffering the greatest burden are able to act. Financing the UN Road Safety Fund is important because there is a great need for large transformative projects in low- and middle-income countries that can help us bend the curve on road fatalities. These countries need access to both knowledge and platforms to demonstrate technology. This requires significant funding that allows scaling over time. The UN Road Safety Fund is uniquely positioned to deliver on these two important pillars, and Autoliv is proud to be a partner that can contribute to both. Our expectations for the work with the fund is that by contributing our experience, we can help accelerate progress in safety in low- and middle-income countries, not least by implementing known effective solutions for vehicle occupants and vulnerable road users, and by creating the underlying capacities to operate a safe system. Autoliv is fully aligned with the UN Road Safety Fund's priorities and the global plan of actions on road safety, and we trust that the fund and its partners will significantly impact road safety in the next decade.