I.A Hedin Bil AB - Interim Report Q3 2019 1
INTERIM REPORT 2019 | I.A. HEDIN BIL AB | JULY 1S
T - SEPTEMBER 30TH Third quarter highlights • On August 14th, Bavaria Norge AS completed the aquisition of three BMW dealerships in Ålesund, Molde and Kristiansund. • On September 17th, Porsche Center Kristiansand, Norway was inaugurated. • On August 21st, Hedin Belgien Bil AB completed the aquisition of two Mercedes-Benz dealerships in between Antwerp and Ghent. • On August 22nd, Hedin Belgien Bil AB agreed to acquire one Mercedes-Benz dealership in between Antwerp and Brussels. The acquisition was completed on September 16. • Net sales increased by 8 % to MSEK 5 262 (MSEK 4 858). • Operating profit increased to MSEK 104 (MSEK 21). Excluding IFRS16 operating profit was MSEK 95. • Profit after financial items increased to MSEK 45 (MSEK-5), or MSEK 52 excluding IFRS 16. Events after the third quarter • On October 10th, a new Porsche Center was inaugurated in Jönköping, Sweden. • On October 14th, a new KIA dealership was inaugurated in Tagene, Sweden. On January 1st, 2019, the new accounting policy IFRS16 Leases was implemented. For comparability to previous periods some figures are reported excluding the effects of IFRS 16. See note 1 for further information. Key Figures Amounts in kSEK Net Sales Operating profit Operating margin % Profit/loss before tax Equity ratio % Equity ratio %, excluding IFRS 16 Av erage number of employees Definit ions Equity ratio: Equity including subordinated shareholder loans in relation to total assets 3rd quarter 2019 5,262,472 103,689 2.0 45,311 10 15 2,592 2018 4,858,130 20,978 0.4 -5,104 16 16 2,454 1 January - 30 September 2019 16,382,594 226,464 1.4 61,927 10 15 2,592 Year 2018 15,671,078 172,220 1.1 87,855 16 16 2,454 2018 21,043,340 227,107 1.1 112,964 15 15 2,450 6