I.A. Hedin Bil - Annual Report 2018 1
DIRECTOR´S REPORT The Board of Directors and CEO
of I.A. Hedin Bil AB (publ), corporate ID No. 556065-4070 hereby presents the Annual Report and Consolidated Financial Statements for the financial year 01/01/2018 - 12/31/2018. GENERAL ABOUT THE BUSINESS I.A. Hedin Bil Group is a family-owned business with sales and service of vehicles. I.A. Hedin Bil Group is operating authorized sales and after sales facilities for passenger vehicles, commercial vehicles and heavy trucks in Sweden and Norway. The brands represented by Hedin Bil are Mercedes-Benz, Jeep, Dodge, RAM, Smart, Nissan, Mitsubishi, Citroên, DS, Fiat, Cadillac, Corvette, Chevrolet, KIA, Opel, Dacia, Renault, Abarth, Honda, Jaguar, Alfa Romeo, Subaru, Isuzu, Range Rover, Land Rover and Ford. The brands represented by Bavaria are BMW and MINI, while Porsche is sold in dedicated Porsche Centers. In Belgium, Mercedes-Benz and Smart are represented under the trademark Hedin Automotive. Distribution and retailing of BMW spare parts and other manufacturers for the Norwegian market is carried out by GS Bildeler. Hedin Bil is currently represented through 107 full service automotive dealerships in attractive locations throughout Sweden; from Trelleborg/ Malmö in the south to Luleå in the north. In Norway; along the coast up to Stavanger and in Oslo, and in Belgium; in and around Ghent and Antwerp. PARENT COMPANY I.A. Hedin Bil AB’s operations consist primarily of managing and developing ownership interests in existing subsidiaries, and providing common functions such as finance, HR, marketing, vehicle administration, etc. The company is a subsidiary of Anders Hedin Invest AB, corporate ID No. 556702-0655, based in Mölndal, which also prepares consolidated accounts. KEY FIGURES Amount in thousand SEK (kSEK) Net sales Profit after financial items Total assets Return on equity % Equity ratio % Average number of employees Definitions Return on equity: Profit for the year in relation to average equity. Equity ratio: Equity and subordinated liabilities to parent companies (Note 21) in relation to the total assets. 12/31/2018 21,043,340 112,964 7,681,509 12 15 2,450 12/31/2017 12,657,046 143,781 6,338,813 18 17 1,711 12/31/2016 9,744,132 166,138 2,294,509 22 27 1,434 12/31/2015 8,075,853 158,553 2,169,985 20 28 1,183 12/31/2014 6,514,601 114,205 2,056,351 15 30 1,113 I.A. HEDIN BIL AB / ANNUAL REPORT / 2018 51