I.A. Årsredovisning 2020 ENG 1
DIRECTOR'S REPORT The Board of Directors and CEO
of I.A. Hedin Bil AB (publ), corporate ID No. 556065-4070 hereby presents the Annual Report and Consolidated Financial Statements for the financial year 1/1/2020 - 12/31/2020. General about the business I.A. Hedin Bil Group is a family-owned business with sales and service of new and used vehicles. I.A. Hedin Bil Group is operating authorized sales and after sales facilities for passenger vehicles, commercial vehicles and heavy trucks in Sweden, Norway, Belgium and Denmark. The brands represented by Hedin Bil in Sweden are Mercedes-Benz, Jeep, Dodge, RAM, Smart, Nissan, Mitsubishi, Citroën, DS, Fiat, Cadillac, Corvette, Chevrolet, Chrysler, KIA, Opel, Dacia, Renault, Abarth, Honda, Jaguar, Alfa Romeo, Subaru, Isuzu, Range Rover, Land Rover and Ford. The brands represented by Bavaria are BMW and MINI in Sweden and Norway. Porsche is sold in dedicated Porsche Centers in Sweden and Norway. In Belgium, Mercedes-Benz and Smart are represented under the trademark Hedin Automotive. Distribution and retailing of BMW spare parts for the Norwegian market is carried out by GS Bildeler. Hedin Bil is currently represented through more than 116 automotive dealerships in Sweden, Norway, Belgium and Denmark. The Group provides both new and used passenger cars, commercial vehicles and trucks. The ambition is to be a full- service company with a comprehensive offering for both private and corporate customers. The overall concept offers financing, service agreements, insurance and tire hotels. Parent company I.A. Hedin Bil AB´s operations consist primarily of managing and developing ownership interests in existing subsidiaries, and providing common support functions such as finance, HR, marketing, vehicle administration, etc. The company is a subsidiary of Hedin Group AB, corporate ID No. 556702-0655, based in Mölndal, which also prepares consolidated accounts. Amount in thousand SEK (kSEK) Net sales Profit after financial items Total assets Return on equity % Equity ratio % Equity ratio %, exclusive IFRS 16 Average number of employees 12/31/2020 24,063,914 511,445 13,540,137 36 11 17 2,651 12/31/2019 22,301,382 147,954 14,322,954 12 9 13 2,733 12/31/2018 21,043,340 112,964 7,681,509 12 15 15 2,450 Definitions Return on equity: Profit for the year in relation to average equity. Equity ratio: Equity and subordinated loan to parent companies (Note 22) in relation to the total assets. Operational earnings: Operating profit excluding items affecting comparability and amortization in surplus values. 12/31/2017 12,657,046 143,781 6,350,213 18 17 17 1,711 12/31/2016 9,744,132 166,138 2,294,509 22 27 27 1,434 I.A. HEDIN BIL AB / ANNUAL REPORT / 2020 47