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Bilia grows with Toyota, BMW and MINI in Sweden

ota, BMW and MINI in Sweden

Gothenburg, Sweden, 2016-01-28 11:45 CET (GLOBE NEWSWIRE) --

Today Bilia concluded an agreement with OK ekonomisk förening to acquire three
car dealerships that conduct BMW, MINI and Toyota operations in Sweden. The
companies have a combined annual turnover of about SEK 750 M with an estimated
operating profit of SEK 14 M. The companies’ capital employed, plus agreed-on
surplus values, amounts to about SEK 145 M. Synergies can be found in a higher
inventory turnover rate, which is expected to reduce capital employed by about
SEK 30 M in 2016.

The estimated date of possession is 1 March, provided the Swedish Competition
Authority approves the acquisitions.

The dealerships are located in the following towns:

Toyota – Kristianstad, Västerås, Enköping, Borlänge, Falun and Ludvika

BMW – Trollhättan, Uddevalla and Strömstad

MINI – Trollhättan

Per Avander, Bilia’s Managing Director and CEO, comments:

“We are very enthusiastic about the acquisitions and the confidence that has
been placed in us by Toyota, BMW and MINI. Furthermore we envision good
opportunities to achieve synergies by the application of our operating model
with a heavy sales focus, efficient inventory management and an increased focus
on the aftermarket.”

Britt Hansson, OK ekonomisk förening’s Managing Director and CEO, comments:

”We have seen many benefits of Bilia, both for the staff and for the local
towns. With a core business of car sales and service the knowledge and
commitment is great in the new owners.”

Gothenburg, 28 January 2016

Bilia AB (publ)

For further information, please contact Per Avander, Managing Director
and CEO, or Gunnar Blomkvist, CFO, Bilia AB, Tel. +46 31 709 55 00.

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