Q4 INTERIM REPORT HEDIN MOBILITY GROUP 1
Vehicle sales in Retail increased by 22%, and ope
rational earnings increased by MSEK 6. The service market increased 57% and operational earnings increased MSEK 24. The increase is an effect of a decrease in demand in the previous year due to the restrictions imposed by many countries in connection with COVID-19. Many worked at home and the cars drove less which results in less demand. The increase is also an effect of the increase in sales we have seen in recent years as the cars are now being submitted for service and repairs. Net sales 4th quarter 2021 Vehicle sales After-market Segment reconciliation Total 6,830 1,786 -1,342 7,274 2020 5,607 1,136 -531 6,212 1 January - 31 December 2021 24,485 4,916 -3,009 26,392 2020 21,216 4,056 -2,313 22,959 Operational earnings 4th quarter 2021 Vehicle sales After-market Total 189 122 311 2020 183 98 281 1 January - 31 December 2021 677 326 1,003 2020 443 293 736 Margin 4th quarter 2021 Vehicle sales After-market Total 2.8% 6.8% 4.3% 2020 3.3% 8.6% 4.5% 1 January - 31 December 2021 2.8% 6.6% 3.8% 2020 2.1% 7.2% 3.2% Distribution The Distribution business area includes import and distribution of vehicles, tires, and spare parts. Most of the operations were transferred to Hedin Mobility Group in connection with the restructuring in October. Sales and earnings are only included from October 1 for these operations. The import of Fod was taken over on January 4. The brand has developed very positively during the year and increased its market share significantly. Sales in the fourth quarter were the best quarter in sales in the last ten years. The Chinese electric car brand MG was introduced in the spring and has been very well received by the Swedish market. Demand has been very strong, and the order backlog is at a record high for 2022. Dodge and RAM are imported from the US and sold through retailers throughout Europe. Sales during the autumn have been limited due to a lack of deliveries. The order backlog at year-end covers the entire next year’s expected sales. Net financial items amounted to MSEK -66 (MSEK -33) affected by exchange rate fluctuations of MSEK +26 (MSEK +7). The cost associated with the early redemption of the bond amounted to SEK 7.5 million. The remaining increase in interest expenses relates to increased investments in leasing vehicles. Cash flow from operating activities amounted to MSEK 238 (MSEK 63). Investments in fixed assets excluding leasing vehicles and right-of-use assets amounted to MSEK 52 (MSEK 71). Available liquidity including unused overdraft facilities amounts to MSEK 3,018. 12 YEAR-END REPORT 2021 | HEDIN MOBILITY GROUP AB (PUBL) | JANUARY–DECEMBER