AI interim report Q1 2020 1
INTERIM REPORT 2020 | I.A. HEDIN BIL AB | 1 JANUA
RY - 31 MARCH Comments related to Covid-19 The initial market reaction from Covid-19 differed between our home markets and was mostly correlated to government actions. In Sweden and Norway, market impact has been comparably limited at between 30 % - 40 % downturn in new car sales during April which is now stabilizing or improving slightly. Belgium however entered a lock down of non-critical businesses which has led to considerably larger consequences in that market. We have been able to run certain emergency aftermarket business, part from that our facilities have been closed. A step by step opening of businesses has commenced and we have a significant number of customers waiting for delivery of their cars. The outcome of the savings programs that have been put into effect is gradually seen during second quarter. The effect from temporary shutdowns of car manufacturing around the globe is expected to show during the end of the second quarter and the start of the third quarter. The delay in deliveries is generally between one and two months. Available cash during this initial phase of Covid-19 is satisfactory due to the measures that have been taken. 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 1st quarter 2020 5,643,797 109,859 1.9 42,494 9 14 2,802 2019 5,329,085 76,972 1.4 22,257 10 16 2,618 Year 2019 22,301,382 360,207 1.6 147,954 9 13 2,733 7