Bilia expects to report operational earnings for the third quarter 2020 that are higher than last year and significantly above market expectations.

Bilia’s operational earnings has so far during the third quarter been impacted more positively than expected by a strong demand for used cars. Bilia’s operational earnings for the third quarter 2020 are expected to amount to between SEK 340 M to SEK 360 M, compared with SEK 280 M for the third quarter 2019. The demand within the Service business has remained on a good level during the third quarter. Government support for furloughing has been used to a very limited extent during the third quarter and support recognized as income are of minor amounts. There is no support for furloughing recognized as income for Sweden.

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 October 28 2020.

Gothenburg September 18, 2020

Bilia AB (publ)

For information please contact:
Per Avander, Managing Director and CEO, +46 (0)10 497 70 00,
per.avander@bilia.se
Kristina Franzén, CFO, +46 (0)10 497 73 40, kristina.franzen@bilia.se

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, on September 18 2020, at 08:00 CEST.

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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  • Bilia expects to report higher operational earnings for the third quarter compared to last year

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