Anders Hedin Invest Årsredovisning 1
EMPLOYEES The average number of employees increas
ed during the year from 1,626 to 2,008. On December 31, the number of employees was approximately 2,700. We are continuing to focus on developing leadership within the organization and drive the Company forward in our endeavor to strengthen the Hedin Bil brand as an employer. The aim is that through these initiatives we will create an organization with a high degree of job satisfaction and professional expertise among the employees. Our work is based on Security, Credibility and Accessibility. During the year, we also focused on implementing a follow-up and control structure at acquired units and continuing the task of establishing a clear structure and culture to reinforce the organization’s customer focus, quality and competitiveness on a rapidly expanding and changing market. REVENUES AND EARNINGS The revenues for 2017 amounted to MSEK 14,552 (MSEK 10,707), which was an increase of 36%. The profit before tax amounted to MSEK 57 (MSEK 825) and the net profit amounted to MSEK 16 (MSEK 773). The profit for the previous year includes a profit in connection with the divestment of I.A. Hedin Fastighet AB of MSEK 554. 2017 and 2016 were characterized by large costs in the car business for rebuilding, take-over of business, integration and start-up. Furthermore, the digital effort to capture new customer behavior has been charged to the profit for the year. The earnings adjusted before extraordinary items amounted to MSEK 217 (MSEK 330). Items affecting comparability (MSEK) Profit excluding items affecting comparability Sales of assets Structural expenses Reported earnings before tax 2017 217 -143 -17 57 2016 330 548 -53 825 FINANCIAL POSITION As of December 31, 2017, the cash and cash equivalents and amounted to MSEK 540 (MSEK 36). Together with the unused credit, there were avalible founds of MSEK 1,301 (MSEK 350). As of December 31, 2017, the Group’s balance sheet total amounted to MSEK 9,162 (MSEK 4,069). Investments at the year-end in tangible and intangible assets and businesses totaled MSEK 1,851 (MSEK 572). PARENT COMPANY Anders Hedin Invest AB’s operations consist primarily of managing and developing ownership interests in existing subsidiaries. The profit after financial items amounted to KSEK -167,768 (1,183,777) and net profit for the year amounted to KSEK -142,470 (1,289,792). Proposed distribution of unappropriated earnings The Board of Directors proposes that unappropriated earnings of KSEK 1,195,785,000 be distributed as follows: Amount in thousand SEK Dividend SEK 30,000/share Carried forward Total 30,000 1,165,785 1,195,785 Dividends will be subject to the approval of the AGM by SEK 30,000,000, meaning that the free shareholders equity after paid dividend amounts to SEK 1,165,785,000. The proposed transfer of value in the form of dividends reduces the company's equityatio to 79%. Since the company's operations continue to be profitable, the equity ratio is satisfactory. The liquidity of the company is expected to be maintained at a sufficient safe level. The Board considers that the proposed dividend does not prevent the company from fulfilling its obligations in the short and long term or completing the necessary investments. The proposed value transfer can be adjusted according to provisions in chapter 17, section 2-3 of the Swedish Companies Act (principle of prudence). For the company's profit and loss position, refer to subsequent profit and loss accounts and balance sheets with accompanying financial statements. ANDERS HEDIN INVEST AB / ANNUAL REPORT / 2017 75