For the fourth quarter 2020 Bilia expects to report operational earnings respectively operating profit charged with restructuring costs, which substantially exceed market expectations. Further the Board of Directors intends to propose a div
The operational earnings, excluding items affecting comparability, for the fourth quarter 2020 are expected to amount to about SEK 575 M, compared with SEK 415 M for the fourth quarter 2019. The profit for the fourth quarter, including restructuring costs of about SEK 110 M, is expected to amount to about SEK 440 M, compared with SEK 370 M for the fourth quarter 2019.
The restructuring costs of about SEK 110 M are primarily attributable to Volvo Cars’ termination of Bilia’s dealer agreements and closure of three of totally seven facilities in Germany. The costs related to Volvo Cars’ termination of the dealer agreements constitutes an initial assessment of the costs to carry out a restructuring of the operation. Discussions with Volvo Cars concerning meaning and extent of the terminations are in an initial stage, why it is currently not possible to estimate final financial impact for Bilia.
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 February 11 2021.
Further the Board of Directors and the Managing Director intend to propose to the AGM 2021, in the quarterly report on 11 February 2021, an ordinary dividend of
SEK 6.00 per share. Previous year’s proposed dividend of SEK 5.25 was withdrawn by the Board before the AGM 2020 due to the uncertainty related to the Covid-19 pandemic. The dividend proposal of SEK 6.00 per share is in line with The Group’s goal to distribute at least 50 per cent of profit per share to the company’s shareholders.
Gothenburg, January 26, 2021
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, at 08:30 CET on January 26, 2021.
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.
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