Anders Hedin Invest årsredovisning ENG 1
STATEMENT BY THE CEO The Swedish car market set a
new sales record and so did we. Investments in new car dealerships for 2014 have now been integrated and we can see a positive development. Other acquisitions made during 2014 – Klintberg & Way, Mabi Rent and the remaining 71% in Car to Go Sweden – have all set new records and contributed to the Group's positive development. The Hedin Fastighet Group has completed construction projects in Stockholm, Gothenburg, Helsingborg, Ängelholm and Värnamo. The Anders Hedin Invest Group is now well positioned to face new challenges as it enters 2016. Prospects are good as it embarks on the next phase in the Group's development. CAR OPERATIONS, HEDIN BIL In 1985, my father Ingemar and I started up I.A. Hedin Bil AB in Borås. We celebrated this anniversary by offering our customers attractive deals that were well received by the market, resulting in new sales records. Whilst the Swedish market for passenger cars increased by 13.5%, our sales increased by 26%. Delivering almost 41,000 vehicles demands high standards on the part of the organisation. To sustain efficiency we have centralised delivery administration at the branch in Mölndal. During 2015, Hedin Bil implemented a number of measures to further develop the organisation and expand the company, with the ultimate aim of strengthening the Hedin Bil brand. The goal and strategy behind these activities is to create a reliable and efficient organisation for the employees, promoting job satisfaction and assuring them that their skills are appreciated. Managers are able to lead successfully and with clear management principles founded on reliability, credibility and accessibility. REPLACEMENT PARTS WHOLESALER KLINTBERG & WAY During 2015, Klintberg & Way (KW Parts) rationalised its organisation, closed down a warehouse in Norway and transferred stocks for the European market from Belgium to Germany. These initiatives, in conjunction with the growing strength of the US dollar, have had an impact on profitability. Nevertheless, the company has still managed to report an increase in operating profit. KW Cars, a recent start-up, has begun importing American commercial vehicles and pick-ups. Dawa Däck, an independent tyre dealer, was acquired during the year to complement tyre operations. The subsidiary company KW Wheels has developed very well, and good business relationships between Dawa Däck and Hedin Bil have opened up further business opportunities for all concerned. Techno Tire became a group subsidiary and provided an IT portal which facilitates customer business. Welcome to the 2014 Annual Report for the Anders Hedin Invest Group. The Group celebrated its 30th anniversary by setting new records for the majority of the subsidiaries. RENTAL CAR OPERATIONS, MABI RENT. 2015 was a record year with 19 new rental stations, resulting in a total of 154 stations at the end of the year. This expansion has increased profitability despite major investments in the new dealerships. The car rental market has developed very well, and Mabi is set to become a leader in this expanding sector. PERSONAL CAR LEASING OPERATIONS, CAR TO GO Personal leasing arrangements are sold via the portal www.carplus.se. Personal car leasing has become an established form of personal car management. It is the fastest growing market for "car ownership", and Car to Go has increased its market share from 3.3% to 5.8%. PROPERTY BUSINESS, HEDIN FASTIGHET The new car dealership in Ängelholm began operating in January, and in May the car dealership in Värnamo was reopened after being redeveloped and extended. Construction of the dealership in Jönköping began in January 2015 and is due to be completed in September 2016. In April, an office and car dealership facility was acquired in Kista, which now includes a commercial vehicle centre and the head offices of Klintberg & Way. By the end of the year, the property group managed 207,500 square metres of floor space as well as 22,000 square metres of property in Jönköping that are under construction. Hedin Bil is the main tenant. LASINGOO SVERIGE The company is owned and operated in collaboration with the Mekonomen Group (Mekonomen, MECA, MecoPartner, Speedy), AD Bil-delar, Autoexperten, Bosch and OKQ8. Lasingoo is a search engine for booking workshop services at fixed rates directly on your computer or mobile. Operations began in spring 2015 and bookings have increased steadily. CONSENSUS ASSET MANAGEMENT Consensus is a securities broker where the primary focus is on asset management, corporate finance and pensions. Operations have expanded considerably and profitability is satisfactory. I would like to thank everyone who contributed in any way to an outstanding anniversary year. Anders Hedin, CEO ANDERS HEDIN INVEST AB ANNUAL REPORT / 2015 7