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|
|NET SALES, SEK M1)|
|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|
|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|
|EBIT MARGIN, %|
|Sørensen og Balchen||14||15||16||18||8||15||15||15||18||13|
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: email@example.com
Åsa Källenius, CFO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: firstname.lastname@example.org
Helena Effert, IRO Mekonomen AB
Tel +46 (0)8-464 00 00 E-mail: email@example.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.