I.A. Hedin Bils interim report Q1
An impressive start of 2019 with strong growth and improved profitability.
During the first quarter, we increased sales in all our segments while improving the margins. New car sales showed a positive development and we continued to increase our market shares. After market services experienced a similar development with improved sales and profit. The increase in profit is also a product of targeted saving programs and increased efficiency that is now coming into effect.
I am pleased that we now have three strong home markets, where we offer well established products and services through excellent organizations. At the same time, we strive to become even better, with an extended range of packaged products for both the private and the corporate markets. We continue to invest in IT to improve how and when we meet our customers. We also invest in internal efficiency, where new technology facilitates simplified and automated processes. Last few years have been a journey of considerable expansion, and it is my conviction that benefits of scale will be of even more importance in the future.
Key performance indicators compared with previous year:
• Net sales increased by 18 percent to 5,329 MSEK (4,535 MSEK).
• Operating profit increased to 77 MSEK (4 MSEK). Excluding IFRS16 the operating profit was MSEK 68.
• Profit after financial items increased to 22 MSEK (-26 MSEK) and excluding IFRS16 to MSEK 30.
For full report please follow link:
https://www.hedinbil.se/om-hedin-bil/investor-relations/ekonomiska-rapporter
I.A. Hedin Bil AB
(publ)
For further information:
CEO: Anders Hedin, anders.hedin@hedinbil.se
Media: press@hedinbil.se
The information in this press release is information which I.A. Hedin Bil AB is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014. The information was provided by the contact person for publication on the 15th of May 2019 at 09:00 CET.
Media I.A. Hedin Bil AB: press@hedinbil.se
I.A. Hedin Bil is one of the largest privately-owned automotive retailers in the Nordics, with 32 brands in the portfolio, offering full service for private and corporate customers. Financing, service and insurance are some of the components of the total offer. Hedin Bil is represented in more than 115 locations in Sweden, Norway and Belgium. Turnover in 2018 amounted to 21 bn SEK with 2450 employees. www.hedinbil.se
® I.A. Hedin Bil is a registered trademark owned by the Anders Hedin Invest Group (91 %) and Ingemar Hedin (9 %)
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