BILI A Bilia AB Series A

Bilia acquires British Motor Group, a full-service operation for Jaguar & Land Rover in Sweden

Bilia acquires British Motor Group, a full-service operation for Jaguar & Land Rover in Sweden

Bilia has entered into an agreement to acquire British Motor Group AB. The business is conducted in two facilities located in Danderyd and Smista, Stockholm. British Motor Group consists of two modern full-service facilities with sales and service. The deal is expected to take place in 2024 and is conditional an approval from the competition authority.

During 2022 sales amounted to approximately SEK 450Mkr in 2021, with an operating margin of 1.1 per cent. The number of employees was 45 people at the end of 2022. The CEO of the business will remain within the company.

"I am very pleased and happy that Bilia now complement the Swedish operations with the brands Jaguar and Land Rover. British Motor Group exists of two facilities in geographically good areas in Stockholm, where we will offer customers high-quality services," says Per Avander, CEO Bilia AB.

Gothenburg, October 26, 2023

Bilia AB (publ)

For information please contact:

Carl Fredrik Ewetz, Investor Relations, +46 (0)10 497 07 73,

Per Avander, Managing Director and CEO, +46 (0)10 497 70 00,

Kristina Franzén, CFO, +46 (0)10 497 73 40,

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 October 24 2023, at 08:00 o’clock CEST .

Bilia is one of Europe’s largest full-service suppliers for everything related to car ownership, with a leading position in servicing and sales of cars, transport vehicles and trucks. We offer service, repair, fuel, car wash, rental cars, tyres and wheels, rim repair, car accessories, car care, paint work, windscreen replacements, car dismantling and more. Bilia has about 160 facilities in Sweden, Norway, Luxembourg and Belgium plus one auction site in Sweden.

Bilia’s Service Business comprises a well-developed range of services and service concepts that are continuously developed to simplify car ownership for the customers. Bilia offers accessories and spare parts, original services and repairs, tyre hotels, rim repair, car glass repair along with other workshop services, store sales and e-commerce.

Bilia’s Car Business comprises sales of new and used cars, transport vehicles and trucks, plus supplementary services such as financing and insurance. Bilia sells cars from Volvo, BMW, Mini, Toyota, Lexus, Mercedes-Benz, Porsche, Volkswagen, Audi, Skoda, Seat, Cupra, Nissan, Jaguar, Land Rover and XPENG as well as transport vehicles from Toyota, Mercedes-Benz, Volkswagen and Nissan and trucks from Mercedes-Benz.

Bilia’s Fuel Business comprises fuel sales and car washes in Sweden.

 

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26/10/2023

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BILI ABilia AB Series A

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Reports on Bilia AB Series A

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BILI A Bilia AB Series...

Bilia AB (Buy, TP: SEK150.00) - Mixed Q3

We consider this a mixed report for Bilia, including a stronger-than-expected service business offset by a weaker car business, resulting in in-line operating earnings. However, new car order intake was on the soft side, while bookings in its service workshops remain good. We expect consensus 2024e operating earnings to remain largely unchanged, but EPS to come down 3–4%. We expect a neutral share price reaction.

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Bilia AB (Buy, TP: SEK150.00) - Recovery likely pushed to 2025

We are cautious ahead of the Q3 report, as a likely recovery in car earnings is pushed to 2025e, while we expect service earnings to be flattish on still-restrained consumer sentiment near-term. Nevertheless, with c+40% EPS growth in 2025e on a forecast new-car market recovery next year, we remain positive on the stock. We reiterate our BUY but have cut our target price to SEK150 (160), mainly on lower estimates.

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Bilia AB (Buy, TP: SEK160.00) - On the right track despite mixed Q2

While the car business’s operating earnings beat consensus on a recovering Norwegian market, the service business missed consensus by c8% with Sweden weighed down by start-up and implementation costs for workshop and new operations. We still expect high campaign activity to boost new car sales in Q3, and the used car and service business to perform well in H2. We reiterate our BUY and SEK160 target price.

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07/18/24 July 18, 2024 1 EN
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Bilia AB (Buy, TP: SEK160.00) - Soft Q2

We consider this a weak report for Bilia, including operating earnings below consensus and somewhat soft new car order intake. We expect consensus 2024e operating earnings to come down c2–4% on the back of the report and expect a negative share price reaction.

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Bilia AB (Buy, TP: SEK160.00) - Expecting resilient service business i...

We are neutral on Bilia’s Q2 results (due at 07:00 CET on 18 July), expecting still-strong results in the service business to offset the earnings headwind in its car business given weak Nordic consumer sentiment. We believe investor focus will be on comments on the timing of a market recovery (we expect H2), and continue to see earnings momentum in 2025. We reiterate our BUY, and have raised our target price to SEK160 (148) after rolling forward our valuation to 2025–2026e.

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