Gothenburg, Sweden, 2017-07-27 08:30 CEST (GLOBE NEWSWIRE) --
First six months
- Net turnover amounted to SEK 14,004 M (11,866).
- Profit for the period was SEK 364 M (336) and earnings per share SEK 3.55 (3.30).
- Operating cash flow amounted to SEK 186 M (423).
Second quarter
- Net turnover amounted to SEK 7,189 M (6,433).
- Operational earnings amounted to SEK 261 M (240).
- Profit for the period was SEK 183 M (193) and earnings per share SEK 1.80 (1.90).
In a comment on the second quarter, Bilia’s Managing Director Per Avander says:
"Demand for both cars and service was on par with last year, and we reported better operational earnings. The improvement was mainly attributable to the Car Business . The Service Business also reported a strong profit, considering that the Easter holiday fell during the second quarter this year. It is gratifying to report that, after a weak start of the year, operations in Western Europe are now showing earnings on a par with our expectations. The order backlog of new cars declined seasonally during the quarter, but was underlying more than 550 cars higher than last year. The Group’s operating cash flow was at a lower level compared with previous quarters, but its financial position remains strong. We expect that demand for our cars will be at the same level during the third quarter of 2017, while demand for service will be slightly better compared with the same quarter last year.”
For further information, please contact Per Avander, Managing Director and CEO, or Gunnar Blomkvist, CFO, telephone +46 10 497 70 00.
