Hedin Mobility Group’s Year-End Report 2023: Strengthening our position as a leading mobility provider in the European market
MÖLNDAL, SWEDEN, February 27, 2024 – Hedin Mobility Group AB (publ) today publishes the Year-End Report for the period January 1 – December 31, 2023.
CEO Anders Hedin: “Over the past year, we have continued to expand our business both geographically and into new business areas. We have extended partnerships with several major manufacturers in existing geographical markets as well as new ones. With Mercedes-Benz, we have expanded our collaboration by establishing ourselves in Europe’s largest car markets, Germany and the United Kingdom. With BMW, we have expanded partnerships in the Netherlands, Sweden, Switzerland and the United Kingdom, and with Kia and Nissan in Finland and the Netherlands.
Additionally, we have launched new car brands in the Swedish and European markets, such as BYD, Hongqi, INEOS Grenadier and Ford F-150. This broadens our geographical presence in Europe, positioning us well to seize the opportunities that tomorrow’s mobility business brings.
We have now established ourselves in the strategically important markets we intended to enter and will now focus on consolidating companies and markets to take advantage of economies of scale within our various businesses, build a unified group, and strengthen our position as a leading mobility provider in the European market.”
The Group in summary
October – December 2023
- Net sales increased by 37% to SEK 23,975 million (17,447). Adjusted for acquisitions and exchange rate changes, net sales are unchanged for comparable units.
- Operational earnings decreased by SEK 484 million to SEK 259 million (743).
- Operating profit amounted to SEK 139 million (646).
- Profit for the period amounted to SEK -10 million (444)
January – December 2023
- Net sales increased by 56% to SEK 81,678 million (52,522). Adjusted for acquisitions and exchange rate changes, net sales increased by 9% for comparable units.
- Operational earnings decreased by SEK 571 million to SEK 1,535 million (2,106).
- Operating profit amounted to SEK 1,693 million (2,297).
- Profit for the period amounted to SEK 820 million (1,846).
The Year-End Report is attached to this press release and is also available to download on Hedin Mobility Group’s website.
Contact
Anders Hedin
CEO, Hedin Mobility Group
ir@hedinmobilitygroup.com
+46 31 790 00 00