Q3 INTERIM REPORT HEDIN BIL 1
Third quarter 2021 • The acquisition of BilMånsso
n in Halland AB, BilMånsson BC AB and BilGruppen Enköping were completed on July 1. • On July 9, an agreement was signed to acquire 100 percent of the shares in AutoFlorio AB, which operates Porsche Center Umeå. The acquisition was completed on September 1. • On July 13, an agreement was reached to acquire three dealerships with sales of Renault and Dacia in North Stockholm and Uppsala, as well as the Ford After-market in Stockholm and Uppsala. • Net sales decreased by 15 percent to MSEK 5,568 (MSEK 6,516). • Operational earnings amounted to 238 MSEK (MSEK 258). • Operating profit amounted to MSEK 219 (MSEK 240). • Profit before tax decreased to MSEK 151(MSEK 176) First nine months 2021 • Modins Bil I Uppsala AB was acquired on February 5. The company is a Ford dealer in Uppsala. • On April 24, MG was launched at 18 Hedin facilities in Sweden. The launch went better than expected and by end of June a total of 1,667 cars had been registered. The model ZS EV was the best-selling electric car in June, and the second best-selling car overall. • Hedin Stockholm Bil AB acquired a business in Segeltorp, Stockholm that was selling Subaru on May 3. The facility on Smista Allé have been rebuilt to sell MG. The Subaru sales activities have been transferred to an existing facility next door on Smista Allé. • On Maj 20, an agreement was signed to acquire BilMånsson i Halland AB and BilMånsson BC AB. The companies include dealerships for Ford in Halmstad and Värnamo, as well as Jaguar and Land Rover in Halmstad. The acquisition was completed on July 1. • The ownership in Porsche Center Son AS was increased on June 9, when an additional 40 percent of the shares in the company was acquired. The ownership following the transaction amounts to 91 percent. • On June 22, an agreement was signed to acquire BilGruppen Enköping AB. The company is operating a Ford dealership based in Enköping. • Net sales increased by 10 percent to MSEK 19,451 (MSEK 17,702). • Operational earnings increased to MSEK 751 (MSEK 515), an increase of 46 percent. • Operating profit increased by MSEK 237 to MSEK 694 (MSEK 458). • Profit before tax increased to MSEK 530 (MSEK 273). Events after the third quarter • On October 1, the acquisitions of three dealerships, with sales of Renault and Dacia in North Stockholm and Uppsala and the Ford After-market in Stockholm and Uppsala, were completed. Key Figures Amounts in kSEK Net Sales Operational earnings Margin % Operating profit Operating margin % Profit/loss before tax Equity ratio % Equity ratio %, excluding IFRS 16 Average number of employees Definitioner Equity ratio: Equity including subordinated shareholder loans in relation to total assets Operational earnings: Operating profit excluding items affecting comparability and amortization in surplus values 3rd quarter 1 January - 30 September 2021 5,568,136 238,360 4.3 219,437 3.9 151,420 2020 6,515,983 258,412 4.0 239,543 3.7 175,943 2021 19,451,269 751,098 3.9 694,407 3.6 529,636 13 18 2,994 2020 17,701,809 515,458 2.9 457,815 2.6 273,415 11 17 2,801 Year 2020 24,063,914 804,737 3.3 728,527 3.0 511,445 11 17 2,651 6 INTERIM REPORT Q3 HEDIN BIL – 1 JULY – 30 SEPTEMBER