Gothenburg, Sweden, 2012-12-07 10:45 CET (GLOBE NEWSWIRE) --
During the year, Bilia has adopted a number of measures to adapt the Danish operation to the worsening market situation. A decision has now been made to adopt further measures as outlined below:
- An agreement has been reached to sell parts of the operation in Roskilde. The part that is not included in the sale will be closed down as from the start of next year. The sale will generate a capital gain of nearly SEK 2 M.
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An agreement has been reached to sell a property in central Copenhagen which Bilia purchased previously but has not yet taken possession of. The capital gain is estimated
at just over SEK 1 M.
- The operation in Jagtvej (facility in downtown Copenhagen) will be closed down as from the start of next year.
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As an effect of the extensive changes that have been implemented in Copenhagen during
the year, the organization will also be changed and streamlined. The staff functions will be eliminated and the business will be run with facility managers who report directly to the Managing Director.
All in all, the above measures will result in a capital gain of about SEK 3 M and closure costs
and costs for changing the organization of about SEK 15 M, which will affect the fourth-quarter accounts.
After the measures adopted during the year, the operation in Denmark has been downsized and
the number of dealerships has been reduced from 8 to 5. It is estimated that the cost base will be reduced by nearly SEK 60 M (-25 %) during 2013 compared with 2012.
Gothenburg, 7 December 2012
Bilia AB (publ)
For further information, please contact Per Avander, Managing Director and CEO, or
Gunnar Blomkvist, CFO, Bilia AB, Tel. +46 31 709 55 00.
