Contents ABOUT Autoliv Saves Lives Our Vision Autoliv's Systems Summary Creating Shareholder Value R&D Project Portfolio Human Resources Environment Quality Autoliv Around the World CEO LETTER Another Successful Year M, D & A M, D & A Items Affecting Comparability Outlook 2004 2003 Versus 2002 2002 Versus 2001 Liquidity, Resources and Financial position Treasury Activities Accounting Policies FINANCIALS Selected Data in SEK Statements of Income Balance Sheets Statements of Cash Flows Statements of Shareholders' Equity Notes Report of Auditors The Autoliv Share Definitions Selected Financial Data GOVERNANCE Corporate Governance Board of Directors Senior Management