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Bilia terminates distribution agreements with Hyundai in Sweden

ents with Hyundai in Sweden

Gothenburg, Sweden, 2016-11-08 14:00 CET (GLOBE NEWSWIRE) --

As of today, Bilia has terminated its distribution agreements with Hyundai in
Sweden. The reason for the decision is that Bilia’s Hyundai operation has been
loss-making for several years now. Hyundai has lost market share steadily for
the past few years, and the brand’s position on the Swedish market has been

Hyundai is represented at four Bilia facilities in Stockholm, one in Eskilstuna
and one in Köping. The operation has an annual turnover of about SEK 200 M,
accounting for about 0.8 per cent of total Group turnover. The period of notice
of termination is 2 years, and turnover is expected to decline gradually during
this period, ceasing entirely by the end of 2018.

This decision is expected to have a marginal positive impact on Bilia’s
earnings per share. It is estimated that tied-up capital will decrease by about
SEK 20 M during the period of notice of termination.

Gothenburg, 8 November 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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