Year-end report 2020 I.A. 1
YEAR-END REPORT 2020 | I.A. HEDIN BIL AB | OCTOBE
R 1ST - DECEMBER 31ST Fourth quarter • On October 8, a new dealership for Nissan and Kia was opened in Alingsås. In the present facility, the sales of Mercedes-Benz will continue as a singlebrand. • On October 15, Bavaria Sverige inaugurated a new dealership for BMW in Kista. • On November 13, 60 percent of Koed A/S was acquired. The company is a danish wholesaler of spare parts for BMW. • Net sales increased by 7.5 percent to MSEK 6,362 (MSEK 5,919). • Operational earnings increased by 88 percent to MSEK 289 (MSEK 154). • Operating profit increased by MSEK 137 to MSEK 271 (MSEK 134). • Profit before tax increased to MSEK 238 (MSEK 86) From beginning of the year 2020 • Net sales increased by 8 percent to MSEK 24,064 (MSEK 22,301). • Operational earnings amounted to MSEK 805 (MSEK 428). • Operating profit increased by MSEK 368 to MSEK 729 (MSEK 360). • Profit before tax increased to MSEK 511 (MSEK 148). • On January 13, a FordStore in Västerås was opened. • On January 20, a new dealership for Kia was opened in Trollhättan, a Red Cube facility. • On April 1, our new concept “Car Store” was launched. Car Store is a used car sales concept within the Hedin Group. • On September 1 a new dealership including customer- VR experience was opened in Solna United. Events after the fourth quarter • Modins Bil AB was acquired on February 5. The company is a Ford dealer in Uppsala. • Uncertainty remains regarding the development of Covid-19 and the future impact on the operations. We continuously monitor the development and consider ourselves to be well prepared for different scenarios. Key Figures Amounts in kSEK 4th quarter 2020 Net Sales Operational earnings Margin % Operating profit Operating margin % Profit/loss before tax Equity ratio % Equity ratio %, excluding IFRS 16 Average number of employees Definit ions Equity ratio: Equity including subordinated shareholder loans in relation to total assets Operational earnings: Se note 2 6,362,105 289,279 4.5 270,712 4.3 238,030 2019 5,918,788 154,185 2.6 133,743 2.3 86,027 1 January - 31 December 2020 24,063,914 804,737 3.3 728,527 3.0 511,445 11 17 2,651 2019 22,301,382 427,679 1.9 360,207 1.6 147,954 9 13 2,733 6