Bilia — Interim / Quarterly Report 2020

Jul 29, 2020

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	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
The Group
Net turnover	6,777	7,426	14,227	14,300	29,435	29,508
Operational earnings 1)	335	306	614	544	1,309	1,239
Operational margin, %	5.0	4.1	4.3	3.8	4.4	4.2
Operating profit	293	280	548	491	1,182	1,125
Operating margin, %	4.3	3.8	3.9	3.4	4.0	3.8
Profit before tax	266	251	485	443	1,056	1,014
Net profit for the period/year	213	203	380	357	830	807
Earnings per share, SEK 2)	2.15	2.05	3.80	3.55	8.25	8.00

1) For reconciliation of operational earnings with operating profit, see Note 3.

2) The number of shares used in the calculation is shown in the Consolidated Statement of Income and Other Comprehensive Income.

The Managing Director's comments

Higher result than last year despite COVID-19

• Strong profits in the Service Business
• Partial closures in Western Europe
• Focus on costs and liquidity

Results for the second quarter

We report higher operational earnings than last year, despite partial closures of operations in Western Europe due to COVID-19 restrictions. Operational earnings increased by SEK 29 M to SEK 335 M, including a loss of SEK 2 M in Western Europe compared to a profit of SEK 25 M Iast year. The improved result was attributable to the Service Business, which reported operational earnings SEK 64 M or 29 per cent higher, amounting to SEK 281 M. Profit from sale of new and used cars was lower than in 2019, which is attributable to lower number of new cars delivered and a lower gross profit margin in sales of used cars. The order intake for new cars was considerably lower than last year. The order backlog for new cars remained high, however, amounting to 12,848 cars, which was around 1,100 cars more than at the year-end and almost 1,300 cars more than in the same period last year. Due to the spread of COVID-19, the focus has been on cost cutting and liquidity. This led to a low cost level and good liquidity at the end of the second quarter.

Consideration for our customers, employees and business

During the second quarter, the spread of the COVID-19 virus has had a huge impact on our business. We have done our best to run as normal a business as possible, always with the ambition of the best safety for our customers and employees. Our operation was, however, limited by national COVID-19 restrictions, mainly in Western Europe where business was wholly or partially closed for six weeks, but also in Norway where the restrictions were extensive, including school and restaurant closures. The operation was less affected in Sweden, where restrictions did not include closures.

We have taken measures to mitigate the financial effects of the COVID-19 restrictions. The focus has been on cost cutting and liquidity, with measures including a halt on recruitment, purchasing and travel, as well as a review of the workforce's size. At the end of the second quarter we had about 300 employees fewer than at the end of the first quarter. So that we can offer as many of our personnel as possible continued employment, we have made use of the financial support packages available for furlouahing, financed fully or partly by the authorities in the countries where we operate. At most, around 750 people were on furlough during the second quarter, mainly in Western Europe and Norway, but also to a lesser extent in Western Europe, furloughs during the second quarter reduced personnel expenses by SEK 13 M, and in Norway the figure was SEK 9 M. For the operation in Sweden, no support for furloughs has been entered as income.

l am proud of Bilia's fine results for the second quarter, generated through our focus on customer and employee safety, along with cost cutting. I hope to see the spread of COVID-19 slowing, and a return to normality for all of us in our everyday lives, and indeed for Bilia's business. We can see signs of some recovery in demand for new cars, mainly in Norway and Western Europe. Circumstances can, however, change quickly, and we are focusing on costs and liquidity to ensure we are well prepared for different future scenarios.

Per Avander, Managing Director and CEO

Group results

Net turnover and earnings

Second quarter 2020

Net turnover amounted to SEK 6,777 M (7,426). For comparable operations and adjusted for exchange rate fluctuations, net turnover decreased by approximately 7 per cent.

Operating profit amounted to SEK 293 M (280). Operating profit for the second quarter 2020 includes structural costs of SEK 19 M for personnel reductions. Operational earnings amounted to SEK 335 M (306). The operational margin was 5.0 per cent (4.1).

The Service Business reported a profit that was SEK 64 M or 29 per cent higher than last year. Adjusted turnover for the Service Business in Sweden and Norway decreased by 2 per cent, mainly attributable to lower turnover for parts due to considerably lower deliveries of new cars. In Western Europe, adjusted turnover fell by approximately 38 per cent, mainly attributable to whole or partial business closures for six weeks due to the spread of COVID-19. There was one more working day in Sweden and Norway than in the previous year. The Car Business reported profits that were SEK 46 M lower than last year, attributable to sales of both new and used cars. The Fuel Business reported a profit that was SEK 2 M higher than last year, attributable to higher oil prices.

Cost-cutting measures were taken during the second quarter to mitigate the effects of the spread of COVID-19. A halt on recruitment, purchasing and travel has been implemented. Consultants, temporary employees and trial employment have ceased, and at the end of the second quarter there were about 300 fewer employees than at the first quarter. The company utilised the opportunity to furlough employees where business had been adversely affected by the COVID-19 pandemic. During the second quarter, an average of around 400 people were wholly or partially furloughed from their jobs, mainly in Western Europe. Operations in Luxembourg and Belgium were closed for six weeks in line with national restrictions. In Germany the operation was partially closed due to limitations on the size of gatherings. In Norway the operation was burdened during the quarter due to far-reaching restrictions, including school and restaurant closures. In Sweden, national restrictions did not affect business opening, which is why furloughing has not been applied to the same extent here.

The Group's personnel expenses decreased by SEK 22 M due to furloughs; SEK 13 M of this relates to Western Europe and SEK 9 M to Norway. Temporary rules have been introduced for all Swedish companies as regards sick pay and social security contributions, which reduced personnel expenses for the Swedish operation during the second quarter by SEK 11 M compared to last year. The result for the second quarter does not include any financial support for furlounahs in Sweden. Support for furlounghs has been applied for but not final reported or approved by the authority. Applied support is estimated at SEK 5 M.

As a result of the profit level and customer satisfaction during the quarter, a provision totalling SEK 5 M (6) was made for employee bonuses in Sweden.

The Group's underlying overheads were around 14 per cent lower compared with last year. Employee furloughs and temporary rules for sick pay and social security contributions reduced overheads during the quarter by approximately 2 percentage points. Overheads amounted to 12.0 per cent of net turnover, which was 1.2 percentage points lower than last year.

The operation in Sweden reported a profit of SEK 254 M (220). The margin was 5.9 per cent (4.9). The higher profit was attributable mainly to the Service Business as well as lower costs. The operation in Norway reported a profit of SEK 93 M (80). The margin was 5.2 per cent (4.5). The higher profit was attributable to the Service Business and lower costs.

Business in Western Europe reported a loss of SEK 2 M (profit: 25). The margin was -0.2 per cent (+2.2). The poorer performance was related to both the Service Business and the Car Business, and is attributable mainly to whole or partial business closures due to COVID-19 restrictions. Operatina loss for the Parent Company in the second quarter amounted to SEK 16 M (loss: 22) and was positively affected by cost cutting.

Profit for the period amounted to SEK 213 M (203). Earnings per share amounted to SEK 2.15 (2.05). Exchange rate fluctuations impacted the period's results negatively by SEK 6 M compared to last year.

The number of employees decreased by 302 during the second quarter and amounted to 4,620. Compared to last year the number of employees fell by 328, and adjusted for acquired operations the number fell by 302.

First six months 2020

Net turnover amounted to SEK 14,227 M (14,300). For comparable operations and adjusted for exchange rate fluctuations, net turnover was on a par with last year.

Operating profit amounted to SEK 548 M (491). Operating profit for the first six months 2020 includes structural costs of SEK 19 M for personnel reductions. Operational earnings amounted to SEK 614 M (544). The operational margin was 4.3 per cent (3.8).

The Service Business reported a profit that was SEK 109 M or 25 per cent higher than last year. The underlying turnover for the Service Business overall increased by around 1 per cent. The underlying turnover for the Service Business in Sweden and Norway increased by just under 4 per cent. For Western Europe, the underlying turnover for the Service Business decreased by around 27 per cent. The significantly lower turnover in Western Europe is mainly attributable to fully or partially closed operations over eight weeks during the first six months of 2020, due to the COVID-19 pandemic. There were two working days more in Norway and one more in the other countries compared to last year, which is why the adjusted turnover in Sweden and Norway was just under 3 per cent, and for the Group as a whole it was on a par with last year. The Car Business reported profits that were SEK 52 M lower than last year, attributable to sales of both new and used cars. The Fuel Business reported a profit that was SEK 4 M lower than last year, and this was attributable to lower volumes and lower oil prices.

Cost-cutting measures were taken during the first half-year, and primarily the second quarter, to mitigate the effects of the COVID-19 pandemic. A halt on recruitment, purchasing and travel has been implemented. Consultants, temporary employees and trial employment have ceased, and at the end of the second quarter there were about 330 fewer employees than at the end of last year, adjusted for divested operations. The company utilised the opportunity to furlough employees where business had been adversely affected by the COVID-19 pandemic. During the second quarter, an average of around 400 people were wholly or partially furloughed from their jobs, mainly in Western Europe. Operations in Luxembourg and Belgium were closed for eight weeks in line with national restrictions. In Germany the operation was partially closed due to limitations on the size of gatherings. In Norway the operation was burdened due to far-reaching restrictions, including school and restaurant closures. In Sweden, national restrictions did not affect business opening, which is why furloughing has not been applied to the same extent here.

The Group's personnel expenses decreased by SEK 25 M due to furloughs; SEK 16 M of this relates to Western Europe and SEK 9 M to Norway. Temporary rules have been introduced for all Swedish companies as regards sick pay and social security contributions, which reduced personnel expenses for the Swedish operation by SEK 11 M compared to last year.

As a result of the profit level and customer satisfaction, a provision totalling SEK 14 M (14) was made for employee bonuses in Sweden.

The Group's underlying overheads were around 7 per cent lower compared with last year. Overheads amounted to 12.3 per cent of net turnover, which was 1.1 percentage points lower than last year.

The operation in Sweden reported a profit of SEK 498 M (407). The margin was 5.6 per cent (4.7). The higher profit was attributable mainly to the Service Business, higher demand for workshop services, and lower costs. The operation in Norway reported a profit of SEK 145 M (140). The margin was 3.9 per cent (4.0). The higher profit was mainly attributable to a higher underlying turnover in the Service Business. Business in Western Europe reported a loss of SEK 12 M (profit: 31). The margin was -0.7 per cent (1.4). The poorer performance was related to both the Service Business and the Car Business, and to eight weeks of business closures due to COVID-19 restrictions. Operating loss for the Parent Company in the first half-year amounted to SEK 24 M (loss: 39), and was positively affected by approximately SEK 10 M on revaluation of endowment policies for pensions, as well as by lower costs.

Profit for the period amounted to SEK 380 M (357). Earnings per share amounted to SEK 3.80 (3.55). Exchange rate fluctuations impacted the period's results negatively by approximately SEK 8 M.

The number of employees increased by 358 to 4,620 during the first six months of the year. Adjusted for acquired operations, the number of employees decreased by 329.

Net turnover by geographic market

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Sweden	4,268	4,512	8,882	8,637	18,056	17,811
Norway	1,790	1,786	3,706	3,517	7,715	7,526
Western Europe	713	1,122	1,626	2,134	3,638	4,146
Parent Company, other	6	6	13	12	26	25
Total	6,777	7,426	14,227	14,300	29,435	29,508

Operational earnings by geographic market

	Second quarter			First six months		Full year
SEK M	2020	2019	2020	2019	July 19 - June 20	2019
Sweden	254	220	498	407	1,041	950
Norway	93	80	145	140	282	277
Western Europe	-2	25	-12	31	48	91
Parent Company, other	-10	-19	-17	-34	-62	-79
Total	335	306	614	544	1,309	1,239

Margin by geographic market

	Second quarter		First six months		July 19 -	Full year
Per cent	2020	2019	2020	2019	June 20	2019
Sweden	5.9	4.9	5.6	4.7	5.8	5.3
Norway	5.2	4.5	3.9	4.0	3.7	3.7
Western Europe	-0.2	2.2	-0.7	1.4	1.3	2.2
Parent Company, other	-	-	-	-	-	-
Total	5.0	4.1	4.3	3.8	4.4	4.2

Financial position

The balance sheet total decreased by SEK 1,264 M during the first half of 2020 and amounted to SEK 14,817 M. The decrease was mainly attributable to lower operating assets, mainly inventories.

Equity increased by SEK 324 M during the half-year 2020, amounting to SEK 3,510 M.

The equity/assets ratio amounted to 24 per cent (19).

Net debt decreased by SEK 1,450 M during the half-year 2020 and amounted to SEK 3,043 M. The decrease is primarily attributable to the strong cash flow during the year. Excluding lease liabilities attributable to IFRS 16, net debt amounted to SEK 321 M, a decrease of SEK 1,552 M since December 2019. The ratio of net debt to EBITDA excluding IFRS 16 amounted to 0.2 times compared with 1.4 times in the previous year. The improvement is mainly explained by a withdrawn dividend payment to shareholders, as well as the strong cash flow.

Excluding IFRS 16

Liquidity remained good, and at the end of June a receivable of SEK 865 M (liability: 195) was reported from the banks (Nordea and DNB). Bilia's combined credit limit with Nordea and DNB amounts to SEK 1,500 M.

Investments in non-current assets by geographic market
		Second quarter		First six months		Full year
SEK M	2020	2019	2020	2019	July 19 - June 20	2019
Sweden	247	521	581	797	1,239	1,455
Norway	16	72	159	240	220	301
Western Europe	4	9	22	13	61	52
Parent Company, other	16	33	33	60	71	98
Total	283	635	795	1,110	1,591	1,906

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hilia

· On 24 March 2020 the Board of Bilia AB decided, due to the spread of COVID-19, to postpone the AGM until a later date. The proposal to pay a dividend will be reviewed prior to the meeting. Nine of Bilia's 135 facilities were closed completely in line with government regulations. In Sweden and Norway, all the facilities were open.

Events after the balance sheet date

• · Since the end of the second quarter, the spread of the COVID-19 virus appears to be slowing. Even so, the high degree of uncertainty still renders it impossible to estimate the impact on the financial results for 2020 as a whole.
• · No other significant events have occurred since the end of the quarter.

Further information about the above-mentioned events along with other press information is available at bilia.com.

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Per cent		Second quarter			First six months
	Sweden	Norway	Total	Sweden	Norway	Total
Change from last year
Reported turnover	-0.8	-9.7	-3.3	4.0	-2.7	2.1
Underlying turnover	-1.6	2.8	-0.3	3.5	4.5	3.8
Calendar effect	-1.7	-1.7	-1.7	-0.8	-1.7	-1.1
Adjusted turnover	-3.3	1.1	-2.0	2.7	2.8	2.7

Growth in the Service Business

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Turnover by geographic market

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Sweden	1,099	1,109	2,286	2,198	4,530	4,442
Norway	396	439	844	868	1,762	1,786
Western Europe	127	202	288	388	724	824
Total	1,622	1,750	3,418	3,454	7,016	7,052

Operational earnings by geographic market

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Sweden	204	142	407	291	790	674
Norway	65	52	119	108	216	205
Western Europe	12	23	18	36	48	66
Total	281	217	544	435	1,054	945

Margin by geographic market

	Second quarter		First six month		July 19 -	Full year
Per cent	2020	2019	2020	2019	June 20	2019
Sweden	18.6	12.8	17.8	13.2	17.4	15.2
Norway	16.4	11.9	14.1	12.5	12.3	11.5
Western Europe	8.7	11.1	6.1	9.2	6.6	8.1
Total	17.3	12.4	15.9	12.6	15.0	13.4

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New cars by geographic market

Deliveries						Order backlog
	Second quarter		First six months		July 19 -	Full year	30 June	30 June
Number of	2020	2019	2020	2019	June 20	2019	2020	2019
Sweden	6,112	9,124	13,546	16,573	29,971	32,998	6,901	7,961
Norway	1,537	2,153	3,561	4,433	8,134	9,006	3,660	2,494
Western Europe	1,036	1,801	2,392	3,408	5,650	6,666	2,287	1,124
Total	8,685	13,078	19,499	24,414	43,755	48,670	12,848	11,579

Used cars by geographic market

		Deliveries
		Second quarter		First six months	July 19 -	Full year
Number of	2020	2019	2020	2019	June 20	2019
Sweden	8,687	8,599	17,942	16,461	35,462	33,981
Norway	3,108	2,746	5,983	5,328	11,293	10,638
Western Europe	993	1,561	2,240	3,073	4,912	5,745
Total	12,788	12,906	26,165	24,862	51,667	50,364

Adjusted for comparable operations and exchange rate fluctuations, turnover during the second quarter was approximately 7 per cent lower than last year. Turnover was positively affected by a higher average selling price, attributable to the mixture of brands and models of the delivered cars.

Operational earnings from sales of used cars amounted to SEK 40 M (61). The lower figure was attributable to a lower gross profit margin compared to last year. The turnover rate of inventories of used cars has remained a priority and was at a high level. Stocks of used cars fell during the second quarter, and were at quite a low level.

Profit from the sale of new cars was SEK 25 M lower than last year, mainly attributable to a lower turnover and gross profit margin. Operational earnings from sales of new cars amounted to SEK 16 M (41) for the second quarter.

Operational earnings for the Car Business in Sweden were SEK 30 M lower, attributable to sales of new and used cars. This decrease can be explained by a lower turnover and gross profit margin from sales of new cars, and a lower gross profit margin from sales of used cars. The profit from sales of used cars amounted to SEK 23 M (44). Demand for used cars increased during the latter part of the second quarter. The number of used cars in stock was at quite a low level at the end of the quarter.

Operational earnings for the Car Business in Norway were on the same level as last year, for sales of new and used cars alike. The profit from sales of used cars amounted to SEK 18 M (16). Demand for used cars increased during the latter part of the second quarter. The number of used cars in stock was at a good level.

Operational earnings for the Car Business in Western Europe were SEK 16 M lower than last year and amounted to SEK -14 M (+2). The lower figure was mainly attributable to lower turnover and gross profit margin from sales of new cars. The lower turnover is mainly attributable to fully or partially closed business for six weeks due to the COVID-19 pandemic. The loss from sales of used cars amounted to SEK 1 M (profit: 1).

Turnover by geographic market

	Second quarter First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June	2019
Sweden	3,071	3,266	6,497	6,221	13,328	13,052
Norway	1,481	1,447	3,062	2,857	6,409	6,204
Western Europe	605	941	1,381	1,790	3,013	3,422
Total	5,157	5,654	10,940	10,868	22,750	22,678

Operational earnings by geographic market

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Sweden	42	72	78	99	230	251
Norway	28	28	26	32	66	72
Western Europe	-14	2	-30	-5	0	25
Total	56	102	74	126	296	348

Margin by geographic market

	Second quarter		First six months		July 19 -	Full year
Per cent	2020	2019	2020	2019	June 20	209
Sweden	1.4	2.2	1.2	1.6	1.7	1.9
Norway	1.9	1.9	0.8	1.1	1.0	1.2
Western Europe	-2.1	0.2	-2.1	-0.3	0.0	0.7
Total	1.1	1.8	0.7	1.2	1.3	1.5

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Turnover

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Total	257	362	547	669	1,216	1,338

Operational earnings

	Second quarter		First six months		July 19 -	Full year
SEK M	2020 2019		2020	2019	June 20	2019
Total	8	6	13	17	21	25

Margin

	Second quarter		First six months		July 19 -	Full year
Per cent	2020	2019	2020	2019	June 20	2019
Total	3.0	1.5	2.4	2.5	1.7	1.8

Other information

Risks and uncertainties

As a result of its operations, the Bilia Group is exposed to both operating risks and financial risks.

The operating risks include:

• Risks related to changes in demand for Bilia's products and services due to changes in the market related to economic conditions, government decisions, the establishment of alternative sales channels, the competitiveness of products and technological development. Events such as natural disasters and pandemics can have significant impacts on Bilia's turnover and profit due to a lack of product availability, economic downturn or effects on in-house production.

The ongoing COVID-19 situation, which was classed by the World Health Organization (WHO) as a pandemic in March 2020, could have a negative impact on business in 2020 as a whole, depending on how it develops. As announced in this interim report, since the outbreak we have seen a severe drop in order intake for new cars, mainly in Sweden and Western Europe. The high degree of uncertainty about the spread of COVID-19 and future actions from customers and/or authorities means that it's not possible to exclude a future significant impact also on other activities such as sales of used cars and the Service Business. The high degree of uncertainty means that it's not possible to estimate the impact on financial results during 2020.

Lower demand for cars could entail risks related to the current stock of cars and cars with guaranteed buy-back values.

• · Risks related to dealer/service authorisations, since Bilia is dependent on approval by manufacturers/general agents to conduct, expand and establish new sales of new cars. Authorisation agreements can be terminated by the other party and Bilia's vehicle suppliers could become insolvent, which could entail the risk of disruption in the operation.
• · Risks related to alternative sales channels, as Bilia currently conducts its business mainly through its own facilities, and to a limited extent via digital channels. If general agents or manufacturers with which Bilia works were to move to their own sales channels, this would have an adverse impact on Bilia's business.
• Risks related to Bilia not having the capacity and resources to develop its own concepts and services, and of our suppliers not being able to offer competitive products in line with the customers' wishes and requirements.
• Risks related to recruiting and retaining skilled employees, retaining strategic business locations for our operations, acquiring and integrating new operations in a successful manner, which could affect Bilia's potential to expand its operations according to its set financial goals.
• Risks related to non-compliance with regulations, a lack of environmental pollution remediation and a lack of control over IT operation could entail regulatory consequences, financial burdens, operational disruptions and an adverse impact on Bilia's reputation.

The financial risks include liquidity risks, interest rate risks, credit risks and currency risks.

Bilia works continuously with risk identification and risk assessment. For further published information about the risks that affect the Group, please refer to the 2019 annual report.

Seasonal variations and number of working days

Bilia's operations and operating profit are influenced to a limited extent by seasonal variations. The number of working days during the report periods is influenced by how holidays fall in the different countries in different years. The number of working days in the period influences business operations and profits in the Service Business in particular, but also in the Car Business.

Related party transactions

For a description of related party transactions, see page 91 of the 2019 annual report.

Parent Company

Bilia AB is responsible for the Group's management, strategic planning, purchasing, public relations, business development, HR, real estate activities, accounting and financing.

് bilia

Accounts - Group

Consolidated Statement of Income and Other Comprehensive Income

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Net turnover	6,777	7,426	14,227	14,300	29,435	29,508
Costs of goods sold	-5,653	-6,169	-11,913	-11,898	-24,603	-24,588
Gross profit	1,124	1,257	2,314	2,402	4,832	4,920
Other operating income	1	5	3	ട	21	24
Selling and administrative expenses	-812	-980	-1,748	-1,905	-3,643	-3,800
Other operating expenses	-20	-2	-21	-12	-28	-19
Operating profit 1)	293	280	548	491	1,182	1,125
Financial income	O	1	1	12	1	12
Financial expenses	-37	-40	-82	-78	-168	-164
Profit from shares in associated companies	10	10	18	18	41	41
Profit before tax	266	251	485	443	1,056	1,014
Tax	-53	-48	-105	-86	-226	-207
Net profit for the period	213	203	380	357	830	807
Other comprehensive income/loss
Items that can be reclassified to profit or loss
Translation differences attributable to foreign
operations	-32	17	-62	55	-86	31
Other comprehensive income/loss after tax	-32	17	-62	ર્સ્ડ	-86	31
Comprehensive income for the period	181	220	318	412	744	838
Net profit for the period attributable to: Parent Company's shareholders	213	203	380	357	830	807
Comprehensive income for the period
attributable to:
Parent Company's shareholders	181	220	318	412	744	838
Weighted average number of shares, '000:
- before dilution	100,134	100,951	100,134	100,951	100,453	100,859
- after dilution	100,231	101,054	100,231	101,054	100,550	100,957
Basic earnings/loss per share, SEK	2.15 2.15	2.05	3.80	3.55 3.55	8.25	8.00 8.00
Diluted earnings/loss per share, SEK		2.05	3.80		8.25
Weighted average number of own shares, '000	2,666	1,849	2,666	1,849	2,347	1,941
1) Straight-line amortisation/depreciation by asset class:
- Intellectual property	-30	-31	-61	-61	-122	-122
- Land and buildings	-16	-14	-32	-27	-80	-75
- Equipment, tools, fixtures and fittings	-28	-28	-56	-55	-99	-98
- Leased vehicles	-94	-100	-192	-202	-390	-400
- Right-of-use assets	-113	-113	-227	-225	-453	-451
Total	-281	-286	-568	-570	-1,144	-1,146

Consolidated Statement of Financial Position, Summary

		30 June 31 December	30 June
SEK M	2020	2019	2019
Assets
Non-current assets
Intangible assets
Intellectual property	575	636	698
Goodwill	828	847	868
	1,403	1,483	1,566
Property, plant and equipment
Land and buildings	775	779	740
Construction in progress	57	42	101
Equipment, tools, fixtures and fittings	491	518	510
Leased vehicles	2,935	3,130	3,210
Right-of-use assets	2,752	2,682	2,621
	7,010	7,151	7,182
Long-term investments
Financial investments 1)	449	441	419
Long-term receivables 2)	O	1
	449	442	419
Deferred tax assets	100	110	96
Total non-current assets	8,962	9,186	9,263
Current assets
Inventories, merchandise	3,306	4,571	3,692
Current receivables
Other receivables 1)	1,361	2,088	1,511
Cash and cash equivalents 20	1,188	236	245
Total current assets	5,855	6,895	5,448
TOTAL ASSETS
Equity and liabilities	14,817	16,081	14,711
Equity	257	257	257
Share capital
Other contributed capital	167	167	167
Reserves	-38	24	48
Retained earnings including net profit for the year	3,124	2,738	2,370
Total equity	3,510	3,186	2,842
Non-current liabilities
Bond issue 3)	792	1,289	1,285
Interest-bearing liabilities 4)	191	203	227
Lease liabilities 4)	2,322	2,214	2,107
Other liabilities and provisions	2,250	2,259	2,272
	5,555	5,965	5,891
Current liabilities
Bond issue 4)	500
Interest-bearing liabilities 4)	459	1,040	ರಿಕರಿ
Lease liabilities 4)	400	406	415
Other liabilities and provisions	4.393	5,484	4,604
	5,752	6,930	5,978
TOTAL EQUITY AND LIABILITIES	14,817	16,081	14,711
Assets
1) Of which interest-bearing 2) Interest-bearing	441 1,188	433 237	449 245
Liabilities
3) Of which interest-bearing 4) Interest-bearing	800 3,872	1,300 3,863	1,000 3,708

Statement of Changes in Group Equity, Summary

		30 June 31 December	30 June
SEK M	2020	2019	2019
Opening balance	3,186	2,915	2,915
Cash dividend to shareholders		-483	-483
Incentive programme	1	1	O
Buy-back of own shares	1	-79
Revaluation of put option	5	-6	-2
Comprehensive income for the year	318	838	412
Equity at end of period	3,510	3,186	2,842

Consolidated Statement of Cash Flows

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Operating activities
Profit before tax	266	251	485	443	1,056	1,014
Depreciation and impairment losses	281	286	268	570	1,225	1,227
Other items not affecting cash	-14	49	-28	49	-55	22
Tax paid	14	-80	-76	-192	-165	-281
Change in inventories	1,106	279	1,203	428	243	-532
Change in operating receivables	-96	-103	623	-90	148	-565
Change in operating liabilities	-140	-226	-909	-180	-177	552
Cash flow from operating activities	1,417	456	1,866	1,028	2,275	1,437
Investing activities
Acquisition of non-current assets (intangible and tangible)	-39	-55	-107	-118	-235	-246
Disposal of non-current assets (intangible and tangible)	6	8	7	13	47	દર્ડ
Acquisition of leased vehicles	-244	-580	-688	-992	-1,356	-1,660
Disposal of leased vehicles	331	508	651	748	1,174	1,271
Operating cash flow	1,471	337	1,729	679	1,905	855
Investment in financial assets	-1	O	-1	-3	-4	-6
Disposal of financial assets	0	2	2	2	5	5
Acquisition of subsidiary/operation, net	0	-49	0	-67	-6	-73
Disposal of subsidiary/operation, net	0	0	5	O	5	0
Cash flow from investing activities	53	-166	-131	-417	-370	-656
Cash flow after net investments	1,470	290	1,735	611	1,905	781
Financing activities
Borrowings	105	395	ર૦ર	970	alega	1,434
Repayment of loans	-474	-279	-1,061	-900	-1,399	-1,238
Repayment of lease liabilities	-17	-15	-34	-31	-67	-64
Repayment of lease liabilities IFRS 16	-62	-112	-193	-241	-384	-432
Buy-back of own shares	0	O	0	0	-79	-79
Dividend paid to the company's shareholders	0	-483	0	-483	0	-483
Cash flow from financing activities	-448	-494	-783	-୧୫୧	-960	-862
Change in cash and cash equivalents, excl. translation
differences	1,022	-204	952	-74	045	-81
Exchange difference in cash and cash equivalents	-9	2	0	5	-2	చి
Change in cash and cash equivalents	1,013	-202	952	-69	943	-78
Cash and cash equivalents at start of period	175	447	236	314	245	314
Cash and cash equivalents at end of period	1,188	245	1,188	245	1,188	236

Figures for last year have been recalculated bearing in mind classification of IFRS 16 transactions.

Additional disclosures - Group

Note 1 Accounting principles

This interim report has been prepared in accordance with International Financial Accounting Standards (IFRSs) IAS 34 and applicable provisions of the Annual Accounts Act. The interim report for the Parent Company has been prepared in accordance with Chapter 9 of the Annual Accounts Act, "Interim Reports". The same accounting policies and calculation methods have been applied for the Group and the Parent Company as in the most recent annual report.

New accounting policies from 1 January 2020

New or revised IFRS to be used in future are not expected to have any material effect on the consolidated financial statements.

When operations have been adversely affected by the pandemic in the first six months of 2020, the Group has utilised the opportunity to furlough employees, in line with the regulations in each country of operation. The financial effect of furloughing employees is recognised as a decrease in personnel expenses. The decrease in personnel expenses is recognised when the application is final and it is deemed that the conditions for utilising furlough have been fully met and the furlough action, based on prevailing regulations, is expected to be approved by the authority in each country.

Disclosures in accordance with IAS 34, paragraph 16, are made not only in the financial statements and related notes, but also in other parts of this interim report.

Note 2 Fair value of financial instruments

Derivative instruments such as interest rate swaps and forward exchange contracts are used to manage Bilia's interest rate risk. They should only be used to meet the requirements on minimising risk in a cost-effective manner as prescribed by the finance policy. The carrying amount of financial instruments is a reasonable approximation of fair value.

Fair value is determined on the basis of the following three levels:

Level 1: according to prices quoted on an active market for the same instrument.

Level 2: based on directly observable market inputs other than those included in level 1.

Level 3: according to inputs not based on observable market data.

Currency derivatives are recognised as financial assets and liabilities and are measured at fair value in accordance with Level 2. The value of the currency derivatives is not material and does not constitute a significant item in the Consolidated Statement of Financial Position. Measurement of the currency derivatives at fair value has resulted in a revenue of SEK 1 M that is matched by a cost stemming from revaluation of assets in foreign currencies. The effect on the Group's profit is SEK 0 M.

Calculation of fair value

The fair value of currency derivatives is determined on the basis of market rates are not available, the fair value is calculated by discounting the difference between the contracted forward rate and the forward rate that can be obtained on the balance sheet date for the remaining contract period.

Note 3 Revenues and costs that affect comparability, and financial support for the effects of COVID-19

Structural costs during 2020 relate to severance solutions of SEK 13 M in Sweden, SEK 3 M in Norway and SEK 3 M in Western Europe. "Gain from sale of property" during 2019 relate to a facility in Sweden which has been used in the Car Business and the Service Business. Structural costs during 2019 relate to expenses for relocation of operations in Sweden and expenses for reducing employees. "Acquisition-related costs and value adjustments" pertain to costs for the acquisition of operations. Amortisation/impairment losses of surplus values in 2019 included a one-off write-down of intangible assets in Germany, Western Europe, which amounted to SEK 20 M.

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
The Group
Operational earnings	335	306	614	544	1,309	1,239
- Gain from sale of property	0	0	O	O	8	8
- Structural costs etc.	-19	-2	-19	-4	-19	-4
- Acquisition-related costs and value adjustments	0	O	O	-2	-1	-3
- Amortisation/impairment losses of surplus values	-23	-24	-47	-47	-115	-115
Operating profit	293	280	548	491	1,182	1,125

In the first six months of 2020, the opportunity to furlough employees, in line with the regulations in our countries of operation, has been utilised when operations have been adversely affected by the COVID-19 pandemic. During the second quarter, an average of around 400 people were wholly or partially furloughed from their jobs, mainly in Western Europe where operations have been wholly or partially closed following government decisions.

Lower personnel expenses after furloughing employees are recognised in operational earnings and in operating profit, and amounted to SEK 22 M in the second quarter; SEK 13 M of this related to Western Europe and SEK 9 M to Norway. There was no financial support for furloughing employees recognised in Sweden for the second quarter. Support for furlounghs in Sweden has been applied for but not final reported or approved by the authority. Applied support is estimated at SEK 5 M. Temporary rules have been introduced for all Swedish companies as regards sick pay and social security contributions, which reduced personnel expenses for the Swedish operation during the second quarter and the first half-year by SEK 11 M compared to last year. Personnel expenses decreased by SEK 25 M due to furloughs in the first six months of 2020; SEK 16 M of this related to Western Europe and SEK 9 M to Norway.

Note 4 Group's operating segments

30 June 2020
SEK M	Service	Car	Fuel	Total	Segment reconciliation	Group
Net turnover
External sales	2,727	10,940	547	14,214	13	14,227
Internal sales	691			691	-691
Total net turnover	3,418	10,940	547	14,905	-678	14,227
Depreciation/amortisation	-196	-335	-3	-534	-34	-568
Operational earnings/Operating profit/loss	544	74	13	631	-83	548
Interest income						1
Interest expenses						-82
Profit from shares in associated companies		18		18		18
Profit before tax						485
Tax expense for the period						-105
Net profit for the period						380
Revenue and costs that affect comparability:
- Profit from sale of property	0	0		0		0
- Structural costs etc.	-10	-6		-16	-3	-19
- Acquisition-related costs and value adjustments	-1	1		0		0
- Amortisation/impairment losses of surplus values	-24	-23		-47		-47
Total	-35	-28		-63	-3	-66
Assets
Shares in associated companies		441		441		441
Deferred tax assets						100
Other assets						14,276
Total assets						14,817
Investments in non-current assets	47	714	1	762	રૂડે	795
Liabilities
Equity						3,510
Liabilities						11,307
Total liabilities and equity						14,817

	Service			Car
			Western			Western
SEK M	Sweden	Norway	Europe	Sweden	Norway	Europe
Turnover
External sales	1,838	644	245	6.497	3,062	1,381
Internal sales	448	200	43
Total turnover	2,286	844	288	6,497	3,062	1,381
Depreciation/amortisation	-110	-58	-28	-265	-42	-28
Operational earnings	407	119	18	78	26	-30
Profit from shares in associated companies				18
Revenue and costs that affect comparability:
- Profit from sale of property
- Structural costs etc.	-8	-1	-1	-2	-2	-2
- Acquisition-related costs and value adjustments	-1		0			1
- Amortisation/impairment losses of surplus values	-6	-6	-12	-6	-6	-11
Total	-15	-7	-13	-8	-8	-12
Shares in associated companies				441
Investments in non-current assets	30	13	র্ব	550	146	18

	Revenues from Non-current
SEK M	customers	assets
Geographical segments
Sweden	8,895	7,207
Norway	3,706	1,911
Germany	406	102
Luxembourg	550	626
Belgium	670	612
Segment reconciliation	0	-1,596
Total	14,227	8,862

30 June 2019

SEK M	Service	Car	Fuel	Total	Segment reconciliation	Group
Net turnover
External sales	2,751	10,868	669	14,288	12	14,300
Internal sales	703			703	-703	-
Total net turnover	3,454	10,868	669	14,991	-691	14,300
Depreciation/amortisation	-186	-355	-2	-543	-27	-570
Operational earnings/Operating profit/loss	435	126	17	578	-87	491
Interest income						12
Interest expenses						-78
Shares in profits of associated companies		18		18		18
Profit before tax						443
Tax expense for the period						-86
Net profit for the period						357
Revenue and costs that affect comparability:
- Profit from sale of operation, other	0	0		0		0
- Structural costs etc.	-2	-2		-4		-4
- Acquisition-related costs and value adjustments	-1	-1		-2		-2
- Amortisation of surplus values	-24	-23		-47		-47
Total	-27	-26	-	-53	-	-53
Assets
Interests in associated companies		410		410		410
Deferred tax assets						96
Other assets						14,205
Total assets						14,711
Investments in non-current assets	38	1,010	2	1,050	60	1,110
Liabilities
Equity						2,842
Liabilities						11,869
Total liabilities and equity						14,711

	Service			Car
			Western			Western
SEK M	Sweden	Norway	Europe	Sweden	Norway	Europe
Turnover
External sales	1,750	657	344	6,221	2,857	1,790
Internal sales	448	211	44
Total turnover	2,198	868	388	6,221	2,857	1,790
Depreciation/amortisation	-108	-49	-29	-273	-54	-28
Operational earnings	291	108	36	99	32	-5
Shares in profits of associated companies				18
Revenue and costs that affect comparability:
- Profit from sale of operation, other
Structural costs etc.	-2			-2	O
- Acquisition-related costs and value adjustments	-1					-1
- Amortisation of surplus values	-6	-5	-13	-6	-6	-11
Total	-9	-5	-13	-8	-6	-12
Interests in associated companies				410
Investments in non-current assets	14	21	3	781	219	10

	Revenues from	Non-current
SEK M	customers	assets
Geographical segments
Sweden	8,649	7,089
Norway	3,517	2,252
Germany	632	137
Luxembourg	696	638
Belgium	806	651
Segment reconciliation	O	-1,600
Total	14,300	9,167

Note 5 Acquisitions

No acquisitions have been made in 2020.

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Note 6 Specification of interest-bearing net debt/receivable and EBITDA

Specification of interest-bearing net debt/receivable

	30 June	31 December	30 June
SEK M	2020	2019	2019
Current interest-bearing liabilities	059	1,040	ರಿಕೆಡಿ
Non-current interest-bearing liabilities	991	1,503	1,527
Lease liabilities IFRS 16	2.722	2,620	2,522
Cash and cash equivalents	-1,188	-236	-245
Interest-bearing assets	0	-1	O
Shares in associated companies	-441	-433	-410
Net debt(+)/receivable(-) at end of period/year	3,043	4,493	4,353
Net debt(+)/receivable(-) at end of period/year, excluding
IFRS 16	321	1,873	1,831

The ratio of net debt to EBITDA

SEK M	30 June 2020	31 December 2019	30 June 2019
Operational earnings	614	1,239	544
Operational earnings, excluding IFRS 16	592	1,193	523
Total depreciation/amortisation	568	1.146	570
-amortisation of surplus values	-47	-95	-47
-depreciation of right-of-use assets	-227	-451	-225
-depreciation of leased vehicles with repurchase agreements	-161	-337	-172
Depreciation/amortisation added back	360	714	351
Depreciation/amortisation added back, excluding IFRS 16	133	263	126
EBITDA	974	1,953	895
EBITDA, excluding IFRS 16	725	1,456	649
The ratio of net debt to EBITDA rolling 12 months, times	1.5	2.3	2.8
The ratio of net debt to EBITDA rolling 12 months, times, excluding IFRS 16	0.2	1.3	1.4

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Accounts - Parent Company

Income Statement for Parent Company

	Second quarter		First six months		July 19 -	Full year
SEK M	2020	2019	2020	2019	June 20	2019
Net turnover	138	130	276	260	546	530
Administrative expenses	-154	-152	-300	-299	-615	-614
Operating loss 1)	-16	-22	-24	-39	-69	-84
Result from financial items
Profit from shares in Group companies	76	128	76	128	65	117
Interest income from Group companies	14	15	35	30	59	54
Other interest income and similar line items	0	0	0	11	-1	10
Interest expenses to Group companies	0	0	0	0	0	0
Interest expenses and similar line items	-11	-13	-26	-23	-46	-43
Loss after financial items	63	108	61	107	8	54
Appropriations	0	O	0	O	723	723
Profit before tax	63	108	61	107	731	777
Tax	0	4	-10	5	-146	-131
Net profit for the year	63	112	51	112	585	646
1/ Straight-line amortisation/depreciation by asset class:
- Intellectual property	0	O	O	O	O	O
- Buildings	-5	-3	-11	-6	-23	-18
- Equipment, tools, fixtures and fittings	-1	0	-1	O	-2	-1
Total	-6	-3	-12	-6	-25	-19

Balance Sheet for Parent Company, Summary

		30 June 31 December	30 June
SEK M	2020	2019	2019
Assets
Non-current assets
Intangible assets
Intellectual property	O	O	0
	0	0	0
Property, plant and equipment
Buildings	172	163	94
Construction in progress	30	રૂદિ	100
Equipment, tools, fixtures and fittings	5	ട	3
	207	204	197
Long-term investments
Shares in Group companies	1,325	1,328	1,328
Other securities held as non-current assets	1	1	1
Deferred tax asset	48	58	50
	1,374	1,387	1,379
Total non-current assets	1,581	1,591	1,576
Current assets
Current receivables
Receivables from Group companies	437	2,130	445
Other receivables	152	196	174
Cash on hand and demand deposits	1,666	55	973
Total current assets	2,255	2,381	1,592
TOTAL ASSETS	3,836	3,972	3,168
Equity and liabilities
Equity
Restricted equity
Share capital	257	257	257
Statutory reserve	47	47	47
	304	304	304
Non-restricted equity
Share premium reserve	167	167	167
Retained earnings including net profit for the year	949	897	442
	1,116	1,064	609
Total equity	1,420	1,368	913
Untaxed reserves	863	863	727
Provisions
Deferred tax liability	14	14	ട
	14	14	5
Non-current liabilities
Bond issue	792	1,289	1,285
Other liabilities	5	ട	ട്
	797	1,294	1,290
Current liabilities
Bond issue	500
Liabilities to Group companies	3	70	1
Other liabilities	239	363	232
	742	433	233
TOTAL EQUITY AND LIABILITIES	3,836	3,972	3,168

	Q3 2018	Q4 2018	Q1 2019	Q2 2019	Q3 2019	Q4 2019	Q1 2020	Q2 2020
Net turnover, SEK M	6,119	6,956	6,874	7,426	6,805	8,403	7,450	6,777
Operational earnings, SEK M	221	296	238	306	280	415	279	335
Operational margin, %	3.6	4.3	3.5	4.1	4.1	4.9	3.7	5.0
Operating profit, SEK M	201	272	211	280	264	370	255	293
Operating margin, %	3.3	3.9	3.1	3.8	3.9	4.4	3.4	4.3
Profit before tax, SEK M	197	267	192	251	237	334	219	266
Profit/loss for the period, SEK M	158	214	154	203	188	262	167	213
The ratio of net debt to EBITDA excl. IFRS 16, times 1)	1.1	1.3	1.1	1.4	1.1	1.3	1.2	0.2
Return on capital employed, % 1)	21.1	20.5	18.3	16.6	16.0	15.8	15.0	15.1
Return on equity, % 1)	26.6	26.5	26.1	25.7	25.9	26.5	26.5	26.1
Equity/assets ratio, %	25	24	21	19	21	20	22	24
Data per share (SEK) 2)
Earnings/loss for the period	1.55	2.10	1.50	2.05	1.85	2.60 3)	1.65 4)	2.15 4)
Equity	27	29	31	28	30	32 4)	33 4)	35 4)

1) Rolling 12 months.

2) Based on number of shares outstanding, 100,950,952.

3) Based on weighted average number of shares outstanding during fourth quarter, 100,585,602.

4) Based on number of shares outstanding, 100,133,742.

	Q3 2018	Q4 2018	Q1 2019	Q2 2019	Q3 2019	Q4 2019	Q1 2020	Q2 2020
Turnover, SEK M	1,405	1,790	1,704	1,750	1,570	2,028	1,796	1,622
Operational earnings, SEK M	137	251	218	217	195	315	263	281
Margin, %	9.8	14.0	12.8	12.4	12.4	15.6	14.7	17.3
Adjusted turnover, growth in %	2.1	4.3	6.4	2.0	7.1	10.9	7.5	-2.0

	Q3 2018	Q4 2018	Q1 2019	Q2 2019	Q3 2019	Q4 2019	Q1 2020	Q2 2020
Turnover, SEK M	4,655	5,238	5,214	5,654	5,233	6,577	5,783	5,157
Operational earnings, SEK M	81	75	24	102	86	136	18	56
Margin, %	1.7	1.4	0.5	1.8	1.6	2.1	0.3	1.1
New cars delivered, number	9,672	12,378	11,336	13,078	9,858	14,398	10,814	8,685
Order backlog of new cars, number	9,880	9,646	12,385	11,579	13,083	11,767	13,579	12,848
Used cars delivered, number	12,358	11,153	11,956	12,906	12,965	12,537	13,377	12,788

	Q3 2018	Q4 2018	Q1 2019	Q2 2019	Q3 2019	Q4 2019	Q1 2020	Q2 2020
Turnover, SEK M	339	327	307	362	338	331	290	257
Operational earnings, SEK M	5	5	11	6	6	2	5	8
Margin, %	1.5	1.4	3.6	1.5	1.9	0.4	1.9	3.0

Definitions and performance measures

Bilia applies guidelines from ESMA (European Securities and Markets Authority) concerning alternative performance measures (APMs). Even though these performance measures are not defined or specified by IFRSs, Bilia believes that they provide valuable information to investors and Bilia's management as a complement to IFRSs for assessing Billia's performance.

Return on equity Net profit for the year in relation to average equity.

Return on capital employed Operating profit plus interest expense included in the business and financial income in relation to average capital employed.

Amortisation of surplus values Occurs in connection with acquisitions of operations and is recognised under intangible assets. Normally these surplus values are amortised over a 10-year period.

EBITDA Operational earnings plus total depreciation less amortisation of surplus values and depreciation of leased vehicles with repurchase agreements.

Excluding IFRS 16 Information excluding the new accounting standard IFRS 16 Leases which means comparable information with previous years according to IAS 17 Leases.

Acquisition-related costs and value adjustments Pertains to costs for legal consultants and other external costs associated directly with an acquisition, and value adjustments regarding acquired inventory assets, which are depreciated over the turnover rate of the asset.

Adjusted turnover Net turnover is adjusted for operations that have been acquired or disposed of during one of the periods. Adjustment is also made for exchange rate differences and for calendar effect. Adjusted turnover reported under Quarterly review – 8 quarters for the Service Business relates to Sweden and Norway.

Comparable operations Financial information and number of units that are adjusted for operations that have been acquired or disposed of during one of the periods.

Deliveries Cars that have been physically turned over to the customer and invoiced and are included in reported net turnover.

Liquidity Unutilised credit with Nordea and DNB and cash and cash equivalents.

Net debt Net debt consists of interest-bearing liabilities less cash and cash equivalents, interestbearing current and long-term receivables, interests in associated companies and leased vehicles, long-term.

The ratio of net debt to EBITDA Net debt in relation to EBITDA.

Operating cash flow Cash flow from operating activities plus investments in and disposals of intangible assets and property, plant and equipment.

Operational margin Operational earnings in relation to net turnover. For the business areas the operational margin is called "Margin".

Operational earnings Operating profit, excluding revenues and costs that affect comparability between accounting periods and/or operating segments. They include, but are not limited to, acquisition-related expenses, value adjustments, restructurings and amortisation of surplus values. For the business areas operational earnings are the only result measurement.

Order backlog New cars ordered by the customer but not yet delivered.

Gain from sale of operation Difference between purchase consideration and the operation's consolidated carrying amount, less selling costs.

Operating margin Operating profit in relation to net turnover.

Equity/assets ratio Equity in relation to balance sheet total.

Structual costs Costs that significantly alter the thrust and/or scope of the operation. Examples of structural costs may be costs for reducing the number of employees and costs for vacating a leased facility before the expiration of the lease.

Capital employed Balance sheet total less non-interest-bearing current liabilities and provisions as well as deferred tax liabilities.

Growth Increase or decrease of net turnover in relation to the preceding year.

Underlying values Values that are adjusted for operations that have been acquired or disposed of during one of the periods. Adjustment is made for exchange rate differences, where applicable.

Reconciliation of performance measures can be found at bilia.com/en/investors/financialinformation/

Additional Bilia disclosures

Press and analyst meeting

On Wednesday, 29 July 2020, Bilia is hosting press and analyst meetings where Managing Director and CEO Per Avander and CFO Kristina Franzén will present the interim report and answer questions. There will be a meeting in Swedish at 09:00 CEST and a meeting in English at 14:00 CEST. These are telephone meetings and the telephone number for phoning in is +46 (0)8 22 90 90, code 674445.

Contact

For further 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

Calendar

Interim report July-September 2020: 28 October 2020 Year-end report for full year 2020: 11 February 2021 Interim report January-March 2021: 27 April 2021 Annual General Meeting: 27 April 2021

Audit

This report has not been subjected to special examination by the auditors.

Prospective information

Prospective information in this report is based on management's expectations at the of the report. Even if the Board of Directors and management find the expectations to be reasonable, there is no guarantee that these expectations are or will turn out to be correct. Consequently, future outcomes may vary considerably compared with those foreseen in the prospective information due to such circumstances as a changed market situation for the Group's services or more generally changed conditions relating to the economy, markets and competition, changes in legal requirements and other political measures, as well as fluctuations in exchange rates. The company does not undertake to update or correct such prospective information other than what is stipulated by law.

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Declaration

This interim report provides a true and fair summary of the Parent Company's and Group's activities, financial position and results of operations while describing significant risks and uncertainties faced by the Parent Company and the companies included in the Group.

Gothenburg, 29 July 2020

Mats Qviberg Chairman

Jan Pettersson Deputy chairman Ingrid Jonasson Blank Board member

Gunnar Blomkvist Board member

Anna Engebretsen Board member

Eva Eriksson Board member Mats Holgerson Board member

Nicklas Paulson Board member

Jon Risfelt Board member

Dragan Mitrasinovic Board member appointed by employee organisation

Patrik Nordvall Board member appointed by employee organisation

Per Avander Managing Director

Gothenburg, 29 July 2020 Bilia AB (publ) Board of Directors and Managing Director

This is information that Bilia AB (publ) is obliged to make public pursuant to the EU's Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on 29 July 2020, at 08:30 CEST.

Bilia is one of Europe's largest car dealership chains, with a leading position in servicing and sales of cars and transport vehicles plus supplementary services such as financing and insurance. Bilia has about 140 facilities in Sweden, Norway, Germany, Luxembourg and Belgium plus two online auction sites, one in Sweden and one in Norway.

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. The Service Business comprises workshop services, spare parts, store sales and e-commerce.

Bilia's Car Business comprises sales of both new and used cars and transport vehicles, plus supplementary services such as financing and insurance. Bilia sells cars from Volvo, BMW, Toyota, Renault, Lexus, MINI, Dacia and Alpine and transport vehicles from Renault, Toyota and Dacia.

Bilia's Fuel Business comprises fuel sales and car washes.

Bilia AB (publ) Box 9003, SE-400 91 Gothenburg, Sweden Visiting address: Norra Långebergsgatan 3, Västra Frölunda Telephone: +46 (0)10 497 70 00 bilia.com Corporate ID No.: 556112-5690