Anders Hedin Invest Årsredovisning 1
KEY FIGURES Amount in thousand SEK Net sales Prof
it after financial items Balance sheet total Return on equity % Equity ratio % Average number of employees Definitions 12/31/2017 14,551,763 56,972 9,161,975 1 21 2,008 12/31/2016 10,706,901 825,299 4,068,816 49 44 1,626 12/31/2015 8,725,618 237,639 5,499,831 15 24 1,322 12/31/2014 6,938,710 148,081 4,540,870 11 26 1,250 The figures for 2014 and later are calculated in accordance with the International Financial Reporting Standards. Figures for previous years have not been reccaleulated. Return on equity: Profit for the year in relation to average equity Equity ratio: Equity in relation to the total assets 12/31/2013 5,312,640 189,268 3,131,575 17 30 836 KEY EVENTS DURING THE YEAR Group vehicle division The assets and liabilities in Bema Tire, a tire workshop with operations in Hisingen, Gothenburg, were acquired on March 1. ANA Motorcentrum, with operations in Trollhättan and Lysekil, was acquired on May 2. PCB Västsverige AB with operations in Borås, Gothenburg and Linköping, along with PCB Fastighets AB and with real estate used in business operations in Borås and Linköping, were acquired on May 18. PCB Fastighets AB was sold on June 2, incluiding commercial properties in Borås and Linköping. 51% of Tuve Bygg Aktiebolag was acquired on June 26. A bond loan of SEK 1,500,000 was signed on October 5. The bond is listed on Nasdaq Stockholm. Miklagruppen AS, with 27 automotive dealerships in Norway and Sweden, was acquired on October 18. On October 27, it was agreed to acquire seven facilities from Mercedes-Benz Belgium in and around Ghent, Belgium with expected closing of the deal in Q2 2018. JC Eriksson Bilteam was acquired in Gävle AB on December 20. Import of vehicles and wholesale operations in spare parts An agreement was entered into on September 19 with FCA International Operations to act importer of Dodge and RAM in Europe. Miradena AB was acquired on October 1; the company homologates Dodge and RAM in Germany and Sweden for the European market. Group property division On January 1, the newly founded I.A. Hedin Fastighet AB tock over the real estate on Lyckans Väg 2 in central Gothenburg. On December 20, two real estate properties were acquired in Gävle. Rental car Division Mabi Group has expanded with additional stations. There are 166 stations in total, 42 of which are owned, while the rest are franchised. EVENTS AFTER THE END OF THE FINANCIAL YEAR On February 28, I.A. Hedin Fastighet AB sold two real estates properties in Gävle. EXPECTED FUTURE DEVELOPMENT The operations of the Group are expected to continue to increase in the coming year. The result is expected to improve next year and the Group is financially and economically well-prepared for the future. RISKS Car sales are dependent on the economic climate and this creates volatility in Group sales. Efficient processes and control of inventores situation are required with the purpose of reducing the sensitivity in profitability. After the block exemption was changed on June 1, 2013, most agreements with importers have a rolling two-year term. This highlights even further the importance of maintaining a good relationship between the importer and the dealer. The Hedin Group aims to be a strategic partner for the importers and to build up a strong sense of trust between the parties. The creation of a complete concept that includes financing, insurance, servicing, card systems and different forms of ownership, is a key factor in promoting customer loyalty. With Group operations in several sectors of the automotive industry, including sales, service centers, car rental and replacement parts, the operating platform is expanded increasing, incidering diversification and spreding risks. QUALITY AND ENVIRONMENTAL WORK The aim behind the Group’s systematic quality and environmental work is that day-to-day operations will be guided by a consideration for the environment, health and quality and that our workplaces are a source of motivation and personal development for all employees. The Company’s competitiveness and market presence is enforced are enformd by its committed, responsible employees and managers. The majority of the Hedin Bil facilities are certified according to ISO 9001:2015 and ISO 14001:2015. Our work is summarized by: • We exceed our customers' expectations • We reduce our environmental impact through cooperation • We exceed external demands • We assume responsibility • We have a clear allocation of responsibility • We have a high level of expertise 74 ANDERS HEDIN INVEST AB / ANNUAL REPORT / 2017