I.A. Hedin Bil AB - Interim Report Q1 2019 1
INTERRIM REPORT 2019 | I.A. HEDIN BIL AB | JANUAR
Y 1st - MARCH 31st Note 2 Operating segments Hedin Bil refers to the sale of new and pre-owned vehicles and aftersales service activities in Sweden under the brand of Hedin Bil. Bavaria refers to the sale of new and pre-owned vehicles and aftersales service activities in Norway and Sweden under the brand of Bavaria. Belgium refers to the sale of new and pre-owned vehicles and aftersales service activities in Belgium under the brand of Hedin Automotive. Vehicle sales cover the sale of new and pre-owned passenger cars, commercial vehicles and trucks, including commission income from financing and insurance. After-market covers service, workshop services and workshop products and spare parts. The effects of IFRS16 are reported under “Segment reconciliation”. Operating segments Hedin Bil 2019 Net sales EBITDA Depreciation Operating profit Financial items Profit before tax Tax expense Profit of the period Investments in fixed assets Operating segments Net sales EBITDA Depreciation Operating profit Financial items Profit before tax Tax expense Profit of the period Investments in fixed assets 376,657 169,739 17,569 11,957 231,235 82,953 155,174 97,882 7,458 0 359 861 3,229,725 108,742 -85,011 23,731 2018 3,136,879 64,145 -58,564 5,581 Bavaria 2019 1,483,494 83,360 -55,410 27,950 2018 1,398,274 51,910 -53,313 -1,403 Belgium 2019 615,866 26,191 -9,527 16,664 2018 0 0 0 0 Segment reconciliat ion 2019 0 137,580 -128,953 8,627 Group 2018 0 1,129 -1,129 0 2019 5,329,085 355,873 -278,901 76,972 -54,715 22,257 -5,612 16,645 394,226 2018 4,535,153 117,184 -113,006 4,178 -30,032 -25,854 6,072 -19,782 181,696 Vehicle sales 2019 4,719,500 150,324 -125,173 25,151 2018 4,055,617 87,488 -90,907 -3,419 After market 2019 990,787 68,571 -25,377 43,194 2018 803,511 29,696 -22,099 7,597 Segment reconciliat ion 2019 -381,202 136,978 -128,351 8,627 Group 2018 -323,975 0 0 0 2019 5,329,085 355,873 -278,901 76,972 -54,715 22,257 -5,612 16,645 394,226 2018 4,535,153 117,184 -113,006 4,178 -30,032 -25,854 6,072 -19,782 181,696 Note 3 Acquisitions On the 18th of February Hedin Belgien Bil AB acquired a body and paint shop next to our dealership in Lier, Belgium. The company has four employees. The purchase price was kEUR 385, including goodwill of kEUR 161that is attributable to synergies with our present business around Antwerp. On the 12th of February Bavaria Haugesund AS acquired 51 percent of the shares at the price of NOK 1, in MPS Micro-paint Haugesund AS. The company is a service and repair shop for vehicles. GS Bildeler AS acquired 91 percent of the shares in EBC Brakes Norge AS at 26th of February. The purchase price was kNOK 2,000 in a new share issue. EBS Brakes is a wholesaler of automotive brakes and vehicle care. The total amount of the acquired net assets has not a material effect on the consolidated figures, and the acquisition values are therefore not reported. 15