Hedin Mobility Groups Half-Year Report 2023: Establishing in Europe’s largest car markets
Hedin Mobility Group AB (publ) today publishes its Half-Year Report for the period January 1 – June 30, 2023.
CEO Anders Hedin: “The development during the second quarter was in line with the first three months of the year and it is pleasing to note that we continue to grow organically. Adjusted for acquisitions and exchange rate changes, net sales increased by 11% during the quarter and by 13% the first six months. However, as in the first quarter, the result is weighed down by lower sales volumes, increased operational and financial expenses, as well as currency effects and establishment costs. Throughout the Group we have a strong focus on increasing volumes and optimising profitability.”
The Group in summary
April – June 2023
- Net sales increased by 55% to MSEK 19,786 (12,771). Adjusted for acquisitions and exchange rate changes, net sales increased by 11% for comparable units.
- Operational earnings increased by MSEK 25 to MSEK 544 (519).
- Operating profit amounted to MSEK 497 (508).
- Net profit for the period amounted to MSEK 160 (363).
January – June 2023
- Net sales increased by 70% to MSEK 37,704 (22,180). Adjusted for acquisitions and exchange rate changes, net sales increased by 13% for comparable units.
- Operational earnings increased by MSEK 65 to MSEK 1,001 (936).
- Operating profit amounted to MSEK 1,168 (1,248).
- Net profit for the period amounted to MSEK 552 (1,023).
The Half-Year Report is attached to this press release and is also available on Hedin Mobility Group’s website.