Interim Report Q4 2019 1
INTERIM REPORT 2019 | I.A. HEDIN BIL AB | OCTOBER
1ST - DECEMBER 31ST Fourth quarter highlights 2019 • On October 10th, a new Porsche Center in Jönköping was inaugurated. • On October 14th, a new Kia dealership in Tagene, Gothenburg was inaugurated. • On November 31st, Hedin Örebro Bil AB’s dealership in Norrköping was discontinued. • On December 1st, a FordStore dealership was acquired from HermiBil i Mälardalen AB. After renovations, a re-opening took place on January 13th 2020. The dealership in Västerås is the eight in Hedin Mölndal Bil AB. • Net sales increased by 10 % to MSEK 5 919 (MSEK 5 372). • Operating profit increased to MSEK 134 (MSEK 55). Excluding IFRS16 operating profit was MSEK 124. • Profit after financial items increased to MSEK 86 (MSEK 25), or MSEK 94 excluding IFRS 16. Significant events after the fourth quarter • On January 13th, the FordStore Västerås dealerhip was re-opened after renovations. • On January 20th, Hedin Göteborg Bil AB opens a new KIA dealership in Trollhättan, a Red Cube facility. • On January 30th, Anders Hedin Invest AB and Stern Groep N.V., the Dutch listed automotive group, announced that they are in exclusive discussions on merging their respective automotive operations, including I.A. Hedin Bil AB. On January 1st, 2019, the new accounting policy IFRS16 Leases was implemented. For comparability to previous periods some figures are reported excluding the effects of IFRS 16. See note 1 for further information. Key Figures Amounts in kSEK Net Sales Operating profit Operating margin % Profit/loss before tax Equity ratio % Equity ratio %, excluding IFRS 16 Av erage number of employees Definit ions Equity ratio: Equity including subordinated shareholder loans in relation to total assets 4 th quarter 2019 5,918,788 133,743 2 86,027 2018 5,372,262 54,887 1 25,109 1 January - 31 December 2019 22,301,382 360,207 2 147,954 9 13 2,733 2018 21,043,340 227,107 1 112,964 15 15 2,450 6