Hedin Mobility Group’s Year-End Report 2023: Strengthening our position as a leading mobility provider in the European market

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

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 2024-02-27 17:30 CET.

About Hedin Mobility Group

Hedin Mobility Group is one of Europe's largest mobility providers, with more than 12,500 employees and operations in 14 countries. In 2023, net sales amounted to SEK 81.7 billion (approx. €7.1 billion) and the Group sold more than 218,000 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 45 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 modern 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 Mercedes-Benz Financial Services Slovakia, Lasingoo Sverige and Casi (formlerly Imove).
 
Read more on www.hedinmobilitygroup.com
 
Part of Hedin Group
Hedin Mobility Group is part of the Hedin Group together with the Hedin Construction 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