Anders Hedin Invest - Year-end Report 2018 1
I.A. HEDIN BIL AB FOURTH QUARTER HIGHLIGHTS • On
October 5th, GS Bildeler AS acquired the majority of the Norwegian import- and wholesale business ConLogo. • On November 1st, Hedin Mölndal Bil AB opened its seventh Ford dealership, with sales of Ford passenger cars, commercial vehicles, and aftermarket services in Nacka, Stockholm. • On November 1st, the used car concept Hedin Certified was launched, offering inspected cars at fixed prices with a price guarantee. • Hedin Göteborg Bil AB took over the dealership of KW Cars in Grimbodalen, Göteborg, on November 2nd. KW Cars was previously run by the parent company Klintberg & Way Group AB. The take over gives cost advantage and strengthen market presence. • Net sales increased by 34 percent to 5 372 MSEK (4 009 MSEK). • Operating profit decreased to 55 MSEK (97 MSEK). • Profit after financial items decreased to 25 MSEK (69 MSEK). EVENTS AFTER THE FOURTH QUARTER • On February 18th, Hedin Belgien Bil AB acquired a body and paint workshop in Lier, Belgium, close to the existing Hedin dealership. The business has four employees. Key Figures Amounts in kSEK 4 th quarter 2018 Net Sales Operating profit Operating margin % Profit before tax Equity ratio % Average number of employees Definitions Equity ratio: Equity including subordinated shareholder loans in relation to total assets 5 372 262 54 887 1,0 25 109 2017 1 January - 31 December 2018 227 107 1,1 2 450 2017 4 009 289 21 043 340 12 657 046 96 631 2,4 69 227 112 964 15 197 230 1,6 143 781 17 1 711 8 I.A. HEDIN BIL AB│YEAR END REPORT 2018