Press Release – I.A. Hedin Bil has published its annual report and sustainability report
I.A. Hedin Bil has published its annual report for 2018. The annual report contains a company overview, audited financial statements and the administration report. I.A. Hedin Bil has also published its sustainability report for 2018 in Swedish.
Anders Hedin, Owner and CEO, says:
“2018 was another eventful year for us as a group. During the year, we inaugurated and re-opened a total of seven dealerships. We opened in eleven new locations, acquired 14 new dealerships and established ourselves in a new market, Belgium. With this, we passed a milestone when we mid-year welcomed our hundredth dealership. All in all, there have been many incredible achievements to be proud of.”
Key performance indicators compared with the previous year:
• I.A. Hedin Bil AB increased the number of vehicles sold by 31 percent to 78 504 (59 595)
• Sales increased by 66 percent to MSEK 21 043 (MSEK 12 657)
• The earnings after financial items decreased to MSEK 113 (MSEK 144)
Net sales increased by 66 percent to 21 043 MSEK (12 657 MSEK). Net sales refer primarily to sales of vehicles and the aftermarket service. Organic growth amounted to 12 percent, which is higher than the total market growth.
Operating profit amounted to 227 MSEK (197 MSEK) at a margin of 1.1 percent (1.6 percent). Operating margin in vehicle sales is still under pressure at 0.6 percent (1.0 percent). For after-market, the operating margin was flat at 3.0 percent (3.0 percent) and managed to absorb a higher depreciation of fixed assets due to investments in aftermarket service.
The financial cost has increased primarily due to acquisition financing and working capital financing of newly added businesses.
For further information, please contact:
Emma Andersson, Corporate Communication Manager Anders Hedin Invest AB
firstname.lastname@example.org, +46 (0) 707-936053