Hedin Mobility Group's Interim Report Q3 2023: Positioned for the mobility business of tomorrow

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.

Contact

Magnus Matsson
PR & Communication Manager, Hedin Mobility Group
+46 31 790 00 82
ir@hedinmobilitygroup.com

This information is information that Hedin Mobility Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-11-15 14:47 CET.

About Hedin Mobility Group

Hedin Mobility Group is one of Europe's largest mobility providers, with more than 12,000 employees and operations in 14 countries. In 2022, Net sales amounted to SEK 52.7 billion (approx. €4.8 billion) and the Group sold more than 180,000 vehicles.
 
Our operations consist of three main business areas:

• In Distribution, we are a significant importer/distributor of vehicles, spare parts, tires, rims and wheels as well as accessories on the European market. We are importer and/or distributor for BYD, Dodge and RAM, Ford and Ford F-150, Hongqi, INEOS Grenadier, MG as well as Renault, Dacia and Alpine. Within spare parts we are, among other things, an authorised partner for GM and Mopar in Europe as well as the exclusive global supplier of Saab Original parts.
• In Retail, we represent over 40 brands and provide a comprehensive offer – sales, financing, insurance, and aftermarket services – comprising new and used passenger cars, commercial vehicles, and trucks to both private and corporate customers. Sales take place both online and via a European dealer network comprising more than 330 own dealerships with a total of over 800 sales points under names such as Hedin Bil, Bavaria, Hedin Automotive, Motor-Car, Torpedo Gruppe, Stephen James, Delta Auto and Renova.
• In Mobility solutions, we address new user needs and sales models in the automotive industry by providing and developing innovative services. Through Carplus, Unifleet, MABI Mobility and Hedin Supercharge, users are offered various flexible and morden mobility solutions.

Hedin Mobility Group's operations also include Hedin IT, which provides the Group with high-end operations, support and digital development, as well as strategic investments in Pendragon PLC, Lasingoo Sverige, Casi (formlerly Imove), and Mercedes-Benz Financial Services Slovakia.
 
Read more on www.hedinmobilitygroup.com
 
Part of Hedin Group
Hedin Mobility Group is part of the Hedin Group together with the Tuve Bygg group and I.A. Hedin Fastighet AB. Hedin Group is also a partner in Consensus Asset Management and Ripam Invest AB, which owns Marstrands Kurhotell, Kurbadhus and Societetshus.
 
www.hedingroup.com