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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Reports on Bilia AB Series A

Simen Aas
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Bilia AB (Buy, TP: SEK148.00) - Inflection point for new car orders

While management had flagged that Q1 was likely to be soft, operating earnings just beat our estimate. The key positive in the report was underlying order intake (after seven consecutive quarterly declines), helped by a recovery in Norway. We expect high campaign activity to extend the trend in Q2, along with still stable demand for service operations. We reiterate our BUY and have raised our target price to SEK148 (145).

Simen Aas
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Bilia AB (Buy, TP: SEK145.00) - A turning point in new car orders

We consider this a positive report for Bilia, including operating earnings slightly above consensus, strong organic growth for its service business and positive order intake for new cars (after seven quarters of decline) as Norway looks to be recovering. We expect consensus 2024e operating earnings to come up c1–3% on the back of the report and expect a positive share price reaction.

Simen Aas
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Bilia AB (Buy, TP: SEK145.00) - Turnaround in car orders needed

We are cautious ahead of the Q1 results given the still-weak consumer sentiment. As we expect fewer car deliveries YOY in Q1, and that order intake will likely still be negative, we believe investor focus will be on any comments regarding a market recovery (we currently expect H2). We reiterate our BUY and SEK145 target price on fairly unchanged estimates.

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