2019 Sustainability report 1
SUSTAINABILITY REPORT 2019 1 THE ORGANIZATION OF
I.A HEDIN BIL All journeys have a beginning – that is also the case of I.A. Hedin Bil. Even though our eyes are always on the horizon, it is sometimes both instructive and inspiring to take a glance in the rear-view mirror. The family firm I.A. Hedin Bil AB was founded by father and son, Ingemar and Anders Hedin through the acquisition of what was to become the first Hedin Bil dealership in Borås back in 1985. Throughout the nineties the company expanded along the west coast through acquisitions in Helsingborg, Ängelholm, Halmstad and eventually Göteborg and Kungsbacka, to mention a few. With the coming of the 21 century the expansion continues and several new brands like Citroën, Cadillac, Mitsubishi and Kia is added. As new facilities are acquired the group is established in Trollhättan, Uddevalla and in several locations in Småland. The early 2010’ s means the construction and refurbishing of several facilities and brand-new dealerships in Borås, Varberg and Kungsbacka is built, just to mention a few. As the decade goes on there are a large number of constructions and acquisitions in Uppsala among other places. The group is also making the first real advancement into the Stockholm market. Several new car brands are added, amongst others, Ford is welcomed into the group through several dedicated dealerships on the east- and west coast. A big leap is also taken as Hedin Bil is placed on the Norwegian market through the acquisition of Miklagruppen, whilst BMW and MINI is added to the list of brands. The international expansion picks up pace even further as Hedin Bil is established as reseller for Mercedes-Benz on the Belgian market. 2018 marks a milestone as the concern makes the acquisition of our hundredth facility. Looking back, we can see an amazing development journey that spans over many years. Today, we are what we are supposed to be – one of the largest marketplaces for vehicles and vehicular services in the Nordic region. A SELECTION OF SIGNIFICANT EVENTS DURING 2019 New establishments have been opened over the year. Hedin Örebro Bil AB opened dealerships for Jaguar and Land Rover this January in Örebro, and Hedin Göteborg Bil AB opened a dealership for Kia in Tagene outside of Göteborg. Hedin Bil have continued their investment in used cars and the brand Hedin Certified is growing stronger. Additional used car dealerships have been opened in Göteborg as well as one in Stockholm. On April 10 Hedin Auction, aimed towards car retailers, was launched. This is a Swedish site for e-commerce for the used cars that are not sold to end consumers by Hedin Bil. The solution grants transparency and prices in accordance to the market for all parties included. In June, a deal was made by Bavaria Norge AS to acquire three BMWdealerships in Ålesund, Molde and Kristiansand in Norway from Brages Bil AS. The access took place in August. In October, Hedin Performance Cars AB (Porsche) opened their third dealership, located in Jönköping. In August Hedin Belgien Bil AB gained access to two Mercedes sites in Lokeren and Sint-Niklaas, Belgium. On the same month the company also made a deal to acquire Rudi Vertommen NV, a full-service facility for Mercedes-Benz located north-east of Brussels. Access was gained in September. At the beginning of 2019 the concern is the reseller for the brands Mercedes-Benz, AMG, Jeep, Dodge, RAM, Smart, Nissan, Nissan GTR, Mitsubishi, Citroën, DS, Fiat, Fiat Professional, Cadillac, Corvette, Chevrolet, Chrysler, Kia, Opel, Dacia, Renault, Abarth, Honda, Jaguar, Alfa Romeo, Subaru, Izuzu, Land Rover, Ford, Porsche, BMW and MINI. The concern I.A. Hedin Bil is represented in 114 locations in Sweden, Norway and Belgium with the main office in Mölndal, Sweden. Average number of employees Dealerships Brands Net sales Total assets External financing Equity Retailed vehicles 2019 2,733 114 32 22,301,382 14,322,954 3,108,794 931,028 78,423 2018 2,450 107 28 21,043,340 7,681,509 2,540,612 795,568 78,046 2017 1,711 88 28 12,657,046 6,350,213 1,915,911 703,962 56,529 2016 1,626 54 25 9,744,132 2,294,509 393,483 615,077 46,195 7