Anders Hedin Invest - Interim Report Q3 2018 1
I.A. HEDIN BIL AB THIRD QUARTER HIGHLIGHTS • On J
uly 13, Bavaria Sverige Bil AB agreed to acquire a BMW and Nissan dealership in Östersund, Sweden from the company Ivars Bil AB. The acquisition was completed on August 31. • On August 2, it was agreed to establish a Hedin Bil Ford Store in Nacka Strand, Stockholm. • On August 22, Hedin Belgien Bil AB acquired five automotive dealerships around Antwerp, Belgium, from Andries NV. The business includes sales and aftermarket service of Mercedes-Benz passenger cars. • On August 22, Hedin Belgien Bil AB agreed to acquire two automotive dealerships situated in between Antwerp and Ghent. The business includes sales and aftermarket service of Mercedes-Benz passenger vehicles, commercial vehicles and trucks. Completion of the transaction is conditioned upon the approval from the Belgian competition authorities. • Ford Transit Center, with sales of Ford commercial vehicles, was opened on September 1st in Eklanda, Göteborg. • Opening on September 20th of the rebuilt Hedin Bil passenger cars dealership with sales of Mercedes-Benz, Kia and Nissan in Helsingborg, Sweden. • Hedin Göteborg Bil AB acquired Skadecenter i Borås AB on September 28, expanding the aftermarket service and repair workshop in Borås, Sweden. • Net sales increased by 69 percent to 4 858 MSEK (2 877 MSEK). • Operating profit increased to 21 MSEK (29 MSEK). • Profit after financial items decreased to -5 MSEK (19 MSEK). Key Figures Amounts in kSEK Third quarter 2018 Net turnover Operating profit Operating margin % Profit before tax Equity ratio % Average number of employees Definitions Equity ratio: Equity in relation to total assets 4 858 130 20 978 0,4% -5 104 2017 1 January - 30 September 2018 2 876 599 15 671 078 28 887 1,0% 19 012 172 220 1,1% 87 855 16 2 454 Year 2017 2017 8 647 757 12 657 046 100 599 1,2% 74 554 25 1 556 197 230 1,6% 143 781 17 1 711 8 1 JULY - 30 SEPTEMBER I.A. HEDIN BIL AB INTERIM REPORT 2018