Report for the first six months of 2013 Gothenburg

Gothenburg, Sweden, 2013-07-25 08:30 CEST (GLOBE NEWSWIRE) -- First six months

• Net turnover amounted to SEK 8,623 M (9,304).
• Net profit for the period was SEK 108 M (88) and earnings per share SEK 4.40 (3.55).

Second quarter

• Net turnover amounted to SEK 4,575 M (4,742).
• Operating profit excluding items affecting profitability amounted to SEK 95 M (62).
• Net profit for the period was SEK 64 M (38) and earnings per share SEK 2.60 (1.50).
• Operating cash flow amounted to SEK 138 M (81).

In a comment on the second quarter, Bilia’s Managing Director Per Avander says:

 “Demand for cars and service was on a level with the first quarter, but slightly better compared with last year. The Service Business developed positively and reported earnings that were considerably better compared with last year. Fewer deliveries of new cars were offset by strong earnings from sales of used cars. Orders received for new cars were, however, higher than last year, and the order backlog remained at a high level. We reported a good cash flow, and the Group’s financial position is still strong. Cost reductions are a focus area, and further steps were taken during the quarter. We believe that demand for cars and service during the third quarter of 2013 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 31 709 55 00.