AI interim report Q1 2020 1
INTERIM REPORT 2020 | I.A. HEDIN BIL AB | 1 JANUA
RY - 31 MARCH Key Events first quarter • The FordStore in Västerås is re-opened on January 13 after being renovated. • On January 20th, Hedin Göteborg Bil AB opens a new KIA dealership in Trollhättan, a Red Cube facility. • On January 29, the plans of Hedin Performance Cars AB to build a Porsche Center in Linköping is announced. The grand opening is scheduled to 2022. • On January 30 it was made public that Anders Hedin Invest AB and the Stern Groep N.V., a listed automotive retailer active in the Netherlands, are holding exclusive negotiations regarding the merger of the two companies automotive operations, including I.A. Hedin Bil AB. Due Covid-19, it was decided on March 2020 to postpone further discussions until the car industry return to normal. • On April 1, our new concept ”Car Store” was launched. Car Store is a used car sales concept within the Hedin Group. • Net sales increased 6 percent to MSEK 5,644 (MSEK 5,329). • Operating profit increased by MSEK 33 to MSEK 110 (MSEK 77). • Profit before tax increased to MSEK 42 (MSEK 22). 6