Year-end report 2020 I.A. 1
YEAR-END REPORT 2020 | I.A. HEDIN BIL AB | OCTOBE
R 1ST - DECEMBER 31ST FINANCIAL SUMMERY OCTOBER - DECEMBER 2020 Net sales increased in the fourth quarter by 7.5 percent to MSEK 6,362 (MSEK 5,919), which is the same for comparable businesses. Changes in exchange rates affects net sales negative by MSEK 120 compared to last year. FINANCIAL SUMMERY OCTOBER - DECEMBER 2020 Operating profit increased by MSEK 137 to MSEK 271 (MSEK 134). Operating margin increased to 4.3 percent (2.3 percent). In beginning of the year, several cost-saving actions have been taken to minimize the economic effects of Covid-19. This includes stopping purchases, travel, consultants, recruitment and reducing marketing. Due to this, together with the actions that were taken last year, the external costs and employee benefit expenses have been reduced to 12.9 percent of the net sales (14.6 percent). Net sales increased in the fourth quarter by 7.5 percent to MSEK 6,362 (MSEK 5,919), which is the same for comparable businesses. Changes in exchange rates affects net sales negative by MSEK 120 compared to last year. Operating profit increased by MSEK 137 to MSEK 271 (MSEK 134). Operating margin increased to 4.3 percent (2.3 percent). In beginning of the year, several cost-saving actions have been taken to minimize the economic effects of Covid-19. This includes stopping purchases, travel, consultants, recruitment and reducing marketing. Due to this, together with the actions that were taken last year, the external costs and employee benefit expenses have been reduced to 12.9 percent of the net sales (14.6 percent). Net sales Vehicle sales After market Segment reconciliation Total Operat ional earnings Vehicle sales After market Segment reconciliation Total Margin Vehicle sales After market Total 4th quarter 2020 5,607,233 1,253,801 -498,929 6,362,105 2019 5,263,517 1,139,397 -484,126 5,918,788 4th quarter 2020 177,802 102,274 9,203 289,279 4th quarter 2020 3.2% 8.2% 4.5% 1 January - 31 December 2020 21,216,497 4,397,126 -1,549,709 24,063,914 2019 20,190,401 4,105,770 -1,994,789 22,301,382 2019 70,225 73,720 10,240 154,185 1 January - 31 December 2020 438,068 326,477 40,192 804,737 2019 202,893 188,289 36,497 427,679 2019 1.3% 6.5% 2.6% 1 January - 31 December 2020 2.1% 7.4% 3.3% 2019 1.0% 4.6% 1.9% The margin of operational earnings in vehicles sales amounted to 3.2 percent (1.3 percent). The sales of new cars in comparable business increased by 2 percent during the quarter, while sales of used cars increased by 14 percent. Gross margin in both new and used vehicles increased compared to the same quarter last year. The margin of operational earnings in vehicles sales amounted to 3.2 percent (1.3 percent). The sales of new cars in comparable business increased by 2 percent during the quarter, while sales of used cars increased by 14 percent. Gross margin in both new and used vehicles increased compared to the same quarter last year. The margin of operational earnings in after sales was 8.2 percent (6.5 percent). Earnings have improved through efficiency improvements and cost reductions. The margin of operational earnings in after sales was 8.2 percent (6.5 percent). Earnings have improved through efficiency improvements and cost reductions. Net sales Sweden Norway Belgium Segment reconciliation Total Operat ional earnings Sweden Norway Belgium Segment reconciliation 4th quarter 2020 3,951,957 1,242,986 1,134,062 33,100 6,362,105 2019 3,917,516 933,790 939,341 128,141 5,918,788 4th quarter 2020 8 158,838 82,443 41,463 6 535 1 January - 31 December 2020 14,982,030 4,465,292 3,852,581 764,011 24,063,914 2019 15,637,644 3,249,092 3,070,758 343,888 22,301,382 2019 91,841 43,246 8,020 11 078 1 January - 31 December 2020 415,910 281,031 67,327 40 469 2019 252,463 97,835 39,111 38 270