Hedin Mobility Group's Interim Report Q3 2023: Positioned for the mobility business of tomorrow
Hedin Mobility Group AB (publ) today publishes its Interim Report for the period January 1 – September 30, 2023.
CEO Anders Hedin: “We continue to grow organically in the third quarter. Adjusted for acquisitions and other items affecting comparability, net sales increased by 14% year-on-year both in the third quarter and in the first nine months. However, margins continue to be squeezed by lower volumes, currency effects and start-up costs in our new distribution operations and market establishments. In the short term, we are working intensively on various initiatives to increase volumes and profitability. In the longer term, we are convinced that with our broad operations and geographical presence we are well positioned to take advantage of the opportunities that tomorrow’s mobility business will bring.”
The Group in summary
July – September 2023
- Net sales increased by 56% to MSEK 20,250 (12,957). Adjusted for acquisitions and exchange rate changes, net sales increased by 14% for comparable units.
- Operational earnings decreased by MSEK 33 to MSEK 456 (489).
- Operating profit amounted to MSEK 637 (465).
- Profit for the period amounted to MSEK 278 (379).
January – September 2023
- Net sales increased by 65% to MSEK 57,703 (35,075). Adjusted for acquisitions and exchange rate changes, net sales increased by 14% for comparable units.
- Operational earnings decreased by MSEK 157 to MSEK 1,206 (1,363).
- Operating profit amounted to MSEK 1,554 (1,651).
- Profit for the period amounted to MSEK 830 (1,402).
The Interim Report is attached to this press release and is also available on Hedin Mobility Group’s website.