Restated segment financials

In accordance with the announcement in the Year-end report January – December 2018, Mekonomen Group will start to report financials according to new reporting structure as of the first quarter 2019.

The reported Business Areas from the first quarter 2019 are:

  • Business Area FTZ - mainly includes wholesale and branch operations in Denmark. The Business Area consists of the same operations as in the former reporting structure and the historical financials has therefore not been restated. FTZ is included in Mekonomen Groups financials since 3 September 2018.

  • Business Area Inter-Team - mainly includes wholesale and branch operations in Poland and export business. The Business Area consists of the same operations as in the former reporting structure and the historical financials has therefore not been restated. Inter-Team is included in Mekonomen Groups financials since 3 September 2018.

  • Business Area MECA/Mekonomen - mainly includes wholesale, branch, workshop and fleet operations in Sweden, Norway and Finland. The Business Area consists of the former reportable Segments MECA and Mekonomen, as well as smaller operations that were previously reported as part of “Other Segments”; AlltiBil, Meko Service Nordic, Mekster, Speedy, Tunga Fordon and Preqas.

  • Business Area Sørensen og Balchen - mainly includes wholesale and branch operations in Norway. The Business Area consists of the same operations as in the former reporting structure and the historical financials has therefore not been restated.

Overview of restated Business Area financials:

The financials are preliminary and the stated numbers will be published 2 May 2019 in the Interim report January – March 2019.

RESTATED QUARTERLY DATA     2018         2017    
BUSINESS AREAS Full-year Q4 Q3 Q2 Q1 Full-year Q4 Q3 Q2 Q1
NET SALES, SEK M1)                    
FTZ 1 088 836 252 - - - - - - -
Inter-Team 638 490 147 - - - - - - -
MECA/Mekonomen 2) 5 301 1363 1267 1422 1 249 5 060 1 287 1 192 1 315 1 266
Sørensen og Balchen 739 168 180 209 182 778 176 178 211 213
Central functions 3) 14 6 4 2 2 12 5 2 2 3
GROUP4) 7 779 2 864 1 850 1 633 1 432 5 850 1 467 1 372 1 529 1 482
                     
EBIT, SEK M                    
FTZ 49 36 13 - - - - - - -
Inter-Team -1 0 0 - - - - - - -
MECA/Mekonomen 2) 405 54 112 167 73 513 106 121 165 121
Sørensen og Balchen 106 24 29 39 14 120 27 27 39 28
Central functions 3) -50 -19 -10 -14 -8 -34 -18 -2 -11 -4
Other items 4) -103 -39 -26 -19 -19 -77 -19 -19 -19 -19
GROUP 407 57 118 173 60 522 96 127 174 126
                     
EBIT MARGIN, %                    
FTZ 5 4 5 - - - - - - -
Inter-Team 0 0 0 - - - - - - -
MECA/Mekonomen 2) 7 4 9 11 6 10 8 10 12 9
Sørensen og Balchen 14 15 16 18 8 15 15 15 18 13
GROUP 5 2 6 10 4 9 6 9 11 8


1) Net sales for each Business Area are from external customers.                                       
2) Revenue for MECA/Mekonomen for the second quarter of 2017 has been restated for adjusted sales of SEK 24 M from external sales to internal sales. No impact on EBIT. For further information, refer to the press release on 23 August 2017.
3) "Central functions" includes Group common functions in Mekonomen AB and the ProMeister Solution business.
4) “Other items” includes acquisition-related items attributable to Mekonomen AB’s direct acquisitions. Current acquisition-related items are amortisations of acquired intangible assets pertaining to the acquisitions of MECA, Sørensen og Balchen, FTZ and Inter-Team.
      
                                                                                     

For further information, please contact:

Pehr Oscarson, President & CEO Mekonomen AB,
Tel +46 (0)8-464 00 00 E-mail: pehr.oscarson@mekonomengroup.com

Åsa Källenius, CFO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: asa.kallenius@mekonomengroup.com

Helena Effert, IRO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: helena.effert@mekonomengroup.com

Mekonomen Group consists of the leading automotive spare-parts chains in the northern Europe; FTZ, Inter-Team, MECA, Mekonomen och Sørensen og Balchen, with proprietary wholesale operations, over 460 stores and 3,400 workshops operating under the Group brands. We offer a wide and easily accessible range of inexpensive and innovative solutions and products for consumers and companies.

About Us

Mekonomen operates in the car aftermarket and consists of leading car service chains in Northern Europe with a proprietary wholesale operation, more than 460 branches and over 3,400 affiliated workshops operating under the Group’s brands. Through its branch network, Mekonomen Group offers affordable spare parts and accessories to the affiliated workshops, other workshops, other B2B customers, as well as car owners. Around 90 per cent of sales are business to business, where 80 per cent of the orders are digital. The largest business to business customers are affiliated workshops operating under the Group´s concepts AutoMester, BilXtra, Din Bilpartner, Meca Car Service, Mekonomen Bilverkstad, O.K. Serwis, Speedy and others. The Group operates through four business areas – FTZ with operations in Denmark, Inter-Team with operations in Poland, MECA/Mekonomen with operations in Norway and Sweden and Sørensen og Balchen with operations in Norway.

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