Bilia today communicates that the operational earnings for the second quarter 2020 were higher than last year and significantly above market expectation.
Bilia’s operational earnings for the second quarter 2020 are expected to amount to around SEK 335 M, compared with SEK 306 M for the second quarter 2019. The improvement was attributable to the Service business in combination with cost focus and utilization of Covid-19 support packages where needed.
The operating profit for the second quarter 2020 is expected to amount to around SEK 290 M, compared with SEK 280 M for the second quarter 2019. The operating profit includes a structural cost amounting to around SEK 20 M to reduce number of employees.
The figures are preliminary and not audited by Bilia’s auditors. Complete information will be reported as part of Bilia’s ordinary interim report on July 29 2020.
Gothenburg, July 16 2020
Bilia AB (publ)
This is information that Bilia AB (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, on July 16 2020, at 08:30 CEST.
Facts about the Bilia Group
Bilia is one of Europe’s largest car dealership chains with a leading position within service and sales of cars and transport vehicles. Bilia has about 140 facilities in Sweden, Norway, Germany, Luxembourg and Belgium. Bilia sells cars of the brand Volvo, BMW, Toyota, Renault, Lexus, MINI, Dacia, Alpine and transport vehicles of the brand Renault, Toyota and Dacia.
Bilia has today a fully expanded business with sales of new cars, e-commerce, spare parts and store sales, service and repair workshops, tyres and car glass and financing, insurance, car washes, fuel stations and auto salvage under the same roof, which gives a unique offer.
Bilia reported a turnover of about SEK 30 bn in 2019 and had about 5,000 employees.