I.A. Hedin Bil AB Year-end report 2020

Gothenburg, 26th of February 2021

Operating profit during the fourth quarter increased by MSEK 135 to MSEK 289, which was an improvement of 88 percent compared to last year. Net sales in comparable units increased by 7.5 percent. The operations in all our markets improved both operating profit and operating margin. There has been a decline in sales of new vehicles in Sweden, but a very strong market for used cars. We have improved sales of both new and used vehicles in Norway. In Belgium there has been partly closed due to Covid-19, but the year-end is strong with high sales.

October-December

• Net sales increased by 7.5 percent to MSEK 6,362 (MSEK 5,919).

• Operational earnings increased by 88 percent to MSEK 289 (MSEK 154).

• Operating profit increased by MSEK 137 to MSEK 271 (MSEK 134).

• Profit before tax increased to MSEK 238 (MSEK 86)

Full year 2020

• Net sales increased by 8 percent to MSEK 24,064 (MSEK 22,301).

• Operational earnings amounted to MSEK 805 (MSEK 428).

• Operating profit increased by MSEK 368 to MSEK 729 (MSEK 360).

• Profit before tax increased to MSEK 511 (MSEK 148).

For further information:

CEO: Anders Hedin, anders.hedin@hedinbil.se 
Media: press@hedinbil.se

This information is information that I.A. Hedin Bil Aktiebolag (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 2021-02-26 10:00 CET.

About Hedin Bil

I.A. Hedin Bil is one of the largest privately-owned automotive retailers in the Nordics, with 30+ brands in the portfolio, offering full service for private and corporate customers. Financing, service and insurance are some of the components of the total offer. 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 and Car to Go Sweden. Hedin Group has a turnover of approx. 3.5 billion EUR and 3,500 employees.