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2020-08-14

I.A Hedin Bil AB: I.A. Hedin Bil AB interim report Q2 2020

Gothenburg, 14th of August 2020

Operating profit during the second quarter was 108 MSEK, which was an improvement of 137 percent compared to last year's second quarter. Net sales in comparable units decreased by 3 percent compared to the same period last year. The operations in Hedin Bil and Bavaria, the latter also including the Norwegian business, improved both operating profit and operating margin. The Belgian operations showed a loss due to the temporary close down of the Belgian market, while still producing positive cash flows.

The market impact in the second quarter from Covid-19 was exceptional and has affected both supply and demand. In Belgium, the market closed for six weeks, Norway was affected by closed schools and restaurants, while Sweden did not introduce any formal lock downs, but the market activity was still considerably lower than usual.

 

New passenger car registrations in Sweden decreased by 37 percent compared to the second quarter of 2019. Corresponding figures for the Norwegian market was -32 percent and -42 percent for Belgium. The market for used cars, as well as the after market, has been less affected.

Key performance indicators compared with previous year:

  • Net sales decreased by 4 percent to MSEK 5,542 (MSEK 5,791).

  • Operating profit increased to MSEK 108 (MSEK 46).

  • Profit after financial items increased to MSEK 55 (MSEK -6).

For full report please follow link:

https://www.hedinbil.se/om-hedin-bil/investor-relations/ekonomiska-rapporter

I.A. Hedin Bil AB

(publ)

Författare I.A Hedin Bil AB

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