I.A. Hedin Bil AB interim report Q2 2021
After a very strong first quarter, the development continued during the second quarter as well. Sales increased 32 percent to MSEK 7,294 and operational earnings increased by MSEK 131 to MSEK 259, with a margin of 3.5 percent. That means that the quarter was one of the best in the Group’s history. Operations in all markets increased sales.
Our sales in Sweden increased by 32 percent, and operational earnings increased by MSEK 92. The market in Sweden, measured in the number of new registrations of passenger cars, increased by 38 percent compared to the previous year. Sales in March was high due to changes in tax rules from April 1, with a corresponding decline in April. Sales in June was high due to changes in taxes for company cars from July 1.
Sales in Norway increased by 39 percent and operational earnings increased by MSEK 5. The market in Norway measured in the number of new car registrations increased by 77 percent compared with the previous year.
Sales in Belgium increased by 71 percent in the quarter, and operational earnings increased by MSEK 34. In Belgium, the comparison has been affected by restrictions due to Covid-19, where the operations have been kept closed from time-to-time last year.
Key performance indicators compared with previous year:
- Net sales increased by 32 percent to MSEK 7,294 (MSEK 5,542).
- Operational earnings increased to 259 MSEK (MSEK 127).
- Operating profit increased by MSEK 131 to MSEK 240 (MSEK 108).
- Profit before tax increased to MSEK 188 (MSEK 55).
For full report please follow link:
https://www.hedinbil.se/om-hedin-bil/investor-relations/ekonomiska-rapporter
For further information:
Anders Hedin, CEO, anders.hedin@hedingroup.com
Media: press@hedingroup.com
This information is information that I.A. Hedin Bil Aktiebolag (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 2021-08-20 10:30 CEST.
About Hedin Bil
I.A. Hedin Bil is one of the largest privately-owned automotive retailers in Europe, with 30+ brands in the portfolio, offering full service for private and corporate customers. Hedin Bil is represented in appr. 120 locations in Sweden, Norway, Belgium and Switzerland. www.hedinbil.se
® I.A. Hedin Bil is a registered trademark owned by Hedin Group (91 %) and Ingemar Hedin (9 %).
Hedin Bil is a part of the Hedin Group together with Klintberg & Way, Mabi Mobility, Car to Go, Hedin Motor Company and Tuve Bygg. Hedin Group is also a partner in Lasingoo, Consensus Asset Management and imove. The Group has a turnover of approx. 3.5 billion EUR and 3,600 employees. www.hedingroup.com