Q4 INTERIM REPORT HEDIN MOBILITY GROUP 1
Fourth quarter 2021 • On October 27, an extraordi
nary general meeting resolved on a directed new share issue of SEK 3,570 million in which Erik Selin, through an indirect wholly owned company, became the owner of 25% of the shares in the company. The general meeting also resolved on a new group structure where all automotive related companies in the Hedin Group belong to Hedin Mobility Group AB. A directed new share issue to Hedin Group AB of MSEK 532 was resolved to set off the payment of the purchase price for these companies. The external holdings in Pendragon PLC and Lasingoo Sverige AB have also been transferred to the company. • To reflect all the Group’s business areas, and the expansion in Europe, the company changed its name from I.A. Hedin Bil AB to Hedin Mobility Group AB, which was registered on 16 November. • On October 1, the acquisitions of three dealerships with sales of Renault and Dacia in Northern Stockholm and Uppsala and Ford Service Market in Stockholm and Uppsala were completed. • On December 7, the outstanding corporate bond loan of SEK 1,500 million was redeemed. In connection with this, the bonds were delisted from Nasdaq Stockholm’s bond list. • On December 7, an agreement was signed to acquire one of the largest full-service truck facilities in Småland, by a business transfer with Tecto trucks in Markaryd. Closing took place on 1 February 2022. • On December 29, an agreement was signed to acquire Toyota de Laat in Sint-Pieters-Leeuw, Belgium. This means that we welcome Toyota as a new brand in the Group, which complements the sales we currently have in Belgium with Mercedes-Benz. • Net sales increased by 37% to MSEK 8,739 (MSEK 6,362). • Operational earnings amounted to MSEK 395 million (MSEK 290). • Operating profit amounted to MSEK 374 million (MSEK 271). • Profit before tax increased to MSEK 309 million (MSEK 238). Full year 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 has been rebuilt to sell MG. The Subaru sales activities have been transferred to an existing facility next door on Smista Allé. • On May 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 were acquired. The ownership following the transaction amounts to 91 percent. • On June 22, an agreement was signed to acquire BilGruppen Enköping AB. The company operates a Ford dealership based in Enköping. • The acquisition of BilMånsson 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. The acquisition was completed on October 1. • Net sales increased by 17 percent to MSEK 28,191 (MSEK 24,064). • Operational earnings increased to MSEK 1,146 (MSEK 805), an increase of 46 percent. • Operating profit increased by MSEK 340 to MSEK 1,069 (MSEK 729). • Profit before tax increased to MSEK 839 (MSEK 511). 6 YEAR-END REPORT 2021 | HEDIN MOBILITY GROUP AB (PUBL) | JANUARY–DECEMBER