Press Release -I.A. Hedin Bils interim report Q1
An impressive start of 2019 with strong growth and improved profitability.
Gothenburg, Wednesday the15th of May 2019
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:
I.A. Hedin Bil AB
For further information:
CEO: Anders Hedin, email@example.com