Nine months
• Net turnover amounted to SEK 13,380 M (11,637).
• Profit for the period was SEK 321 M (231) and earnings per share SEK 12.85
(9.35).
Third quarter
• Net turnover amounted to SEK 4,179 M (3,737).
• Operating profit excluding items affecting comparability amounted to SEK
105 M (105) and the margin was 2.5 per cent (2.8).
• Profit for the period was SEK 68 M (78) and earnings per share SEK 2.75
(3.10).
• Cash flow after net investments amounted to SEK 277 M (30).
(For complete interim report see attached file)
In a comment on the third quarter, Bilia's Managing Director Per Avander says:
“Sales of both cars and service increased and we posted good earnings and a
strong cash flow. The Service Business developed positively and earnings
improved. The market situation remains good and was only marginally affected by
the financial turbulence on the markets. Demand for new cars is, however,
expected to decline slightly during the fourth quarter in Sweden and Denmark,
while remaining unchanged in Norway. The market situation for service is
expected to remain on a good level.”
(For table see attached file)
Notable events during 2011
• Three-year financing agreements were signed with Nordea and DnB NOR on
25 October . The agreements expand Bilia's credit facilities by SEK 300 M
to SEK 900 M.
• During the first nine months of the year, 190,201 warrants were exercised
to subscribe for new shares, resulting in a new issue of SEK 4 M. The
number of outstanding warrants at 30 September was 385,108.
• The Board of Directors of Bilia AB resolved on 9 August to initiate
buy-back of own shares within the framework of the authorisation obtained
at the AGM. As of 28 October 2011, 515,000 shares have been repurchased for
a total of SEK 50 M.
Events reported during previous quarters
• Bilia is expanding its Service Business in Sweden by investments in
Jägersro, Limhamn, Lidingö and Hisingen. The total investment for the
projects is estimated to be about SEK 100 M, most of which will be financed
by the property owners.
• The Administrative Court in Gothenburg issued a judgement in March 2011
that Bilia's Swedish subsidiary Sevonia AB was entitled to a tax deduction
for a group contribution paid of SEK 313,6 M. A positive tax of SEK 82 M
was reported in the final accounts for the second quarter.
• An agreement was signed with Opus Prodox AB giving Opus the right of first
refusal to establish vehicle inspection at Bilia's dealerships in Sweden.
• Bilia signed an agreement to acquire a workshop in Lerum.
• Bilia's Board of Directors appointed Per Avander as Managing Director and
CEO of Bilia starting 4 May 2011.
Further information on the above events and other press information is
available at www.bilia.com.
Gothenburg, 28 October 2011
Bilia AB (publ)
Board of Directors
For further information, please contact Per Avander, Managing Director and CEO,
or Gunnar Blomkvist, CFO, telephone +46 31 709 55 00.
Bilia AB (publ)
Box 9003, SE-400 91 Gothenburg, Sweden
Visiting address: Norra Långebergsgatan 3, Västra Frölunda
Telephone: +46 31 709 55 00
www.bilia.com
Corporate ID No.: 556112-5690
This report is being published by Bilia AB in compliance with the Securities
Market Act. The information was submitted for publication on 28 October 2011 at
08:30.
