Gothenburg, Sweden, 2016-10-28 08:30 CEST (GLOBE NEWSWIRE) --
Nine months
- Net turnover amounted to SEK 17,609 M (14,693).
- Operational earnings amounted to SEK 622 M (518).
-
The Group’s profit for the period was SEK 463 M (451) and earnings per share
SEK 9.10 (8.95).
Third quarter
- Net turnover amounted to SEK 5,743 M (4,597).
- Operational earnings amounted to SEK 187 M (162).
- The Group’s profit for the period was SEK 127 M (131) and earnings per share SEK 2.50 (2.60).
-
Operating cash flow amounted to SEK 308 M (123).
In a comment on the third quarter, Bilia’s Managing Director Per Avander says:
” Demand for both cars and service was slightly better compared with last year, and we reported better operational earnings. The earnings improvement is mainly attributable to the Car and Service Businesses. The underlying order backlog of new cars increased during the quarter and was about 1,600 cars higher compared with last year. The Group generated an operating cash flow of SEK 308 M, and its financial position remained strong. We predict that during the fourth quarter of 2016, demand for cars will be on a level with, and for service slightly higher than, the same quarter last year.”
In addition to financial definitions according to IFRS, alternative performance measures are used to describe the performance of the underlying business and obtain better inter-period comparability.
The Bilia Group reported a gain on redemption of the PRI liability in 2015, see page 4. Further, the Bilia Group was charged last year with closure costs for the Danish operation, see page 11.
For further information, please contact Per Avander, Managing Director and CEO, or Gunnar Blomkvist, CFO, telephone +46 31 709 55 00.
