IA Hedin Bil - Interim Report Q2 2019 1
INTERRIM REPORT 2019 | I.A. HEDIN BIL AB | APRIL
1ST - JUNE 30TH Note 2 Operating segments Hedin Bil refers to the sale of new and pre-owned vehicles and aftersales service activities in Sweden under the brand of Hedin Bil. Bavaria refers to the sale of new and pre-owned vehicles and aftersales service activities in Norway and Sweden under the brand of Bavaria. Belgium refers to the sale of new and pre-owned vehicles and aftersales service activities in Belgium under the brand of Hedin Automotive. Vehicle sales cover the sale of new and pre-owned passenger cars, commercial vehicles and trucks, including commission income from financing and insurance. After-market covers service, workshop services and workshop products and spare parts. The effects of IFRS16 are reported under “Segment reconciliation”. Operating segments Hedin Bil 2019 Net sales EBITDA Depreciation Operating profit Financial items Profit before tax Tax expense Profit of the period Investments in - fixed assets - Leasing vehicles 56 033 430 650 58 971 169 309 12 936 233 798 9 048 269 433 9 824 0 524 2 526 2018 Bavaria 2019 2018 Belgium 2019 6 713 269 7 203 153 3 026 783 3 286 208 1 380 070 192 800 -169 483 207 984 -114 915 23 317 93 069 173 107 -112 231 60 876 166 492 -106 245 60 247 38 879 -18 156 20 723 2018 323 587 2 903 -4 977 -2 074 Segment reconciliat ion 2019 0 280 702 -262 843 17 859 Group 2018 2019 2018 2 128 -2 128 0 0 11 120 122 10 812 948 685 488 -562 713 379 507 -228 265 122 775 -106 159 16 616 -3 574 13 042 151 242 -58 283 92 959 -21 565 71 394 79 317 664 448 70 545 438 742 Operating segments Net sales EBITDA Depreciation Operating profit Financial items Profit before tax Tax expense Profit of the period Investments in - fixed assets - Leasing vehicles 24 671 664 448 31 025 438 742 54 646 39 520 Vehicle sales 2019 2018 After market 2019 2018 10 070 002 9 546 066 1 988 212 1 691 342 304 965 -251 373 274 671 -184 662 53 592 90 009 101 019 -49 694 51 325 104 836 -43 603 61 233 Segment reconciliat ion 2019 -938 092 279 504 -261 646 17 858 Group 2018 2019 2018 -424 460 11 120 122 10 812 948 0 0 685 488 -562 713 0 122 775 -106 159 16 616 -3 574 13 042 379 507 -228 265 151 242 -58 283 92 959 -21 565 71 394 79 317 664 448 70 545 438 742 Note 3 Acquisitions On the 12th of February Bavaria Haugesund AS acquired 51 percent of the shares at the price of NOK 1, in MPS Micro-paint Haugesund AS. The company is a service and repair shop for vehicles. On the 18th of February Hedin Belgien Bil AB acquired a body and paint shop next to our dealership in Lier, Belgium. The company, Star repair bvba, has four employees. The purchase price was kEUR 385, including goodwill of kEUR 161 that is attributable to synergies with our present business around Antwerp. GS Bildeler AS acquired 91 percent of the shares in EBC Brakes Norge AS at 26th of February. The purchase price was kNOK 2,000 in a new share issue. EBS Brakes is a wholesaler of automotive brakes and vehicle care products. The total amount of the acquired net assets has not a material effect on the consolidated figures, and the acquisition values are therefore not reported. 15