Hedin Mobility Groups Half-Year Report 2023: Establishing in Europe’s largest car markets

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.

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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-08-25 08:30 CEST.

About Hedin Mobility Group

Hedin Mobility Group is one of Europe's largest mobility providers, with more than 8,000 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 some 300 own dealerships with a total of over 600 sales points under names such as Hedin Bil, Hedin Automotive, Bavaria and Motor-Car.
• In Mobility solutions, we address new user needs and sales models in the automotive industry by providing and developing innovative services. Through Carplus, Unifleet, and MABI Mobility, users are offered various flexible 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