FULLTEXT DEL 1 AV 1
Kvartalsrapport Q1 2025
===== SIDA 1 ===== Interim Report Q1 2025 ===== SIDA 2 ===== First quarter 2025 Continued stable result and strong cash flow First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Net turnover 9,935 9,371 39,716 39,151 Operational earnings 1) 344 333 1,455 1,444 Operational margin, % 3.5 3.6 3.7 3.7 Operating profit 294 287 1,204 1,197 Operating margin, % 3.0 3.1 3.0 3.1 Profit before tax 194 201 856 863 Net profit for the period 149 156 655 662 Earnings per share, SEK 2) 1.61 1.70 7.10 7.19 Operating cash flow 453 400 1,646 1,592 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. First quarter 2025 • Net turnover amounted to SEK 9, 935 M (9,371), an increase of 6 per cent. • Operational earnings amounted to SEK 344 M (333). • The higher operational earnings for the quarter were attributable to the Service Business that reported a higher result of SEK 29 M compared to previous year. • Operating profit was somewhat higher compared to previous year and amounted to SEK 294 M (287). • Net profit for the period amounted to SEK 149 M (156). Earnings per share amounted to SEK 1.61 (1.70). • Operating cash flow amounted to SEK 453 M (400). 2 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 3 ===== Stable result and improved margin in the Service Business First quarter Our operational earnings for the quarter amounted to SEK 344 M, with a margin of 3.5 per cent – slightly higher results compared to the previous year. The result for the Service Business amounted to SEK 310 M, which was SEK 29 M higher than the previous year. The result for the Car Business amounted to SEK 57 M, which is SEK 19 M lower than the previous year. Western Europe reported higher oper- ational earnings of SEK 14 M with a strong margin of 5.4 per cent, Norway reported higher results of SEK 27 M, while Sweden reported lower results of SEK 29 M attribut- able to the Car Business. Underlying order intake for the quarter was 31 per cent higher than the previous year, and the un- derlying order backlog was around 3,000 cars more than at the start of the year. Increased global uncertainty The whole world is facing challenges with political and macroeconomic turbulence, and the recent trade tariffs are raising concerns for the future. Bilia operates in Sweden, Norway, Belgium and Lux- embourg and we are not as yet directly affected by increased tariffs. In these uncertain times, our primary focus is to work on efficiency and profit- ability, especially in our Service Business where we can see opportunities for con- tinued growth in profits. In the first quarter, the Service Business generated 81 per cent of the Group’s earnings and the mar- gin improved to 12.2 per cent compared to 11.9 per cent the previous year. Our MobiliaCare business is part of our circular business model, focusing on repair, fix and reuse. In this area, efforts are progressing to expand, develop and diversify shared services for all car brands. In 2024, for example, we estab- lished three new stand-alone workshops for glass replacement and repair, and we plan to establish several more in 2025. Bilia family grows with two new car brands in Sweden During the first quarter, we began selling new Polestar cars at three facilities in Sweden. We also signed an agreement with Lynk & Co Sales Sweden AB to become a full-service partner for sales and servicing of new cars in Sweden. We will initially offer sales of cars from Lynk & Co at five facilities in Sweden. We will continue offering service and repair at selected authorised Volvo workshops. These new car brands bring us syner- gies, while complementing our range of quality plug-in hybrids and electric cars for our customers. We currently work with around 20 attractive car brands. An unpredictable future car market During the first quarter, we saw greater interest in buying a car among private individuals, driven by lower interest rates and attractive promotions across our brands. Demand from business custom- ers remained stable with no signs of a slowdown. Underlying new car orders were 31 per cent higher than in the pre- vious year, although still from relatively low levels. Demand for used cars was split, with stable demand for hybrid and fossil-fuel cars, but lower demand for electric cars. It is hard to predict the impact on de- mand for new cars in the coming quarters given the generally unstable business climate at the moment, but we believe our customers will continue to service and repair their cars in the future. Even in uncertain times, there are opportunities that we want to capitalise on through wise long-term decisions, hard work and a stable financial position. Per Avander Managing Director and CEO KOMMENTAR FRÅN VD Stable Service Business and strong cash flow for the quarter, but unpredictable future car market” THE MANAGING DIRECTOR’S COMMENTS 3 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 4 ===== Group results Net turnover and earnings First quarter 2025 Net turnover amounted to SEK 9,935 M (9,371). Adjusted for acquired operations and for exchange rate fluctua- tions, net turnover increased by 1 per cent . Exchange rate fluctuations had a negative impact on net turnover with approximately SEK 60 M compared to the previous year. Operational earnings amounted to SEK 344 M (333), and the operational margin was 3.5 per cent (3.6). The Service Business reported a higher result of SEK 310 M, compared to SEK 281 M the previous year. The Car Business reported a lower result of SEK 57 M, compared to SEK 76 M the previous year. The lower result was primarily attributable to sales of used cars, which reported a stable yet lower result of SEK 55 M (69). The Fuel Business reported a result of SEK 15 M. The operation in Sweden reported a result of SEK 245 M (274). The margin was 3.9 per cent (4.3). The operation in Norway reported a result of SEK 62 M (35). The margin was 2.7 per cent (1.9). The operation in Western Europe reported a result of SEK 75 M (61). The margin was 5.4 per cent (5.5). In Sweden, the lower result was mainly attributable to sales of new cars in the Car Business. In Norway, the higher result was attributable to the Service Business. In Western Europe, the higher result was attributable to the Car Business. Operating profit amounted to SEK 294 M (287). Oper- ating profit includes result from interests in joint ventures of SEK –2 M. Net financial items amounted to SEK –100 M (–85), the change being explained by higher interest expenses mainly attributable to lease liabilities related to right-of- use assets. Tax amounted to SEK –45 M (–45), and the effective tax rate was 23 per cent (22). Net profit for the period amounted to SEK 149 M (156). Earnings per share amounted to SEK 1.61 (1.70). Ex- change rate fluctuations did not have a material impact on net result for the period compared to the previous year. The number of employees increased by 52 during the quarter and totalled 5,611. Adjusted for acquired opera- tions, the number of employees increased by 35 people. The operating result for the Parent Company during the quarter amounted to SEK –43 M (–39). Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Net turnover SEK M Net turnover Net turnover SEK M, R/one.tf/two.tf /zero.tf /two.tf,/zero.tf/zero.tf/zero.tf /four.tf,/zero.tf/zero.tf/zero.tf /six.tf,/zero.tf/zero.tf/zero.tf /eight.tf,/zero.tf/zero.tf/zero.tf /one.tf/zero.tf,/zero.tf/zero.tf/zero.tf /one.tf/two.tf,/zero.tf/zero.tf/zero.tf /three.tf/zero.tf,/zero.tf/zero.tf/zero.tf /three.tf/two.tf,/zero.tf/zero.tf/zero.tf /three.tf/four.tf,/zero.tf/zero.tf/zero.tf /three.tf/six.tf,/zero.tf/zero.tf/zero.tf /three.tf/eight.tf,/zero.tf/zero.tf/zero.tf /four.tf/zero.tf,/zero.tf/zero.tf/zero.tf /four.tf/two.tf,/zero.tf/zero.tf/zero.tf /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf /five.tf/zero.tf/zero.tf /six.tf/zero.tf/zero.tf Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Operational earnings SEK M Operational earnings and margin Margin %, R/one.tf/two.tf /zero.tf./zero.tf /one.tf./zero.tf /two.tf./zero.tf /three.tf./zero.tf /four.tf./zero.tf /five.tf./zero.tf /six.tf./zero.tf GROUP RESUL TS 4 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 5 ===== Net turnover by geographic market First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Sweden 6,266 6,385 25,729 25,849 Norway 2,284 1,880 9,324 8,919 Western Europe 1,372 1,098 4,584 4,310 Parent Company, other 13 8 79 73 Total 9,935 9,371 39,716 39,151 Operational earnings by geographic market First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Sweden 245 274 1,084 1,113 Norway 62 35 258 231 Western Europe 75 61 253 239 Parent Company, other –38 –37 –140 –139 Total 344 333 1,455 1,444 Operational margin by geographic market First quarter April 24– March 25 Full year 2024Per cent 2025 2024 Sweden 3.9 4.3 4.2 4.3 Norway 2.7 1.9 2.8 2.6 Western Europe 5.4 5.5 5.5 5.5 Total 3.5 3.6 3.7 3.7 A better experience At Bilia we strive for continuous development, to be a little better each day, whatever our title or position. Working in a goal-conscious way founded on our vision, core values and customer promise creates a positive spiral, enabling us to exceed expectations and provide a better experience for cus tomers and colleagues alike. GROUP RESUL TS 5 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 6 ===== Operating cash flow Operating cash flow for the quarter amounted to SEK 453 M (400). After acquisitions of operations and changes in financial assets, cash flow for the quarter amounted to SEK 498 M (156). Financial position The balance sheet total decreased by SEK 370 M during the quarter and amounted to SEK 20,290 M. The de- crease was attributable to non-current assets and fore- most right-of-use assets and leased vehicles. Equity increased by SEK 79 M during the quarter, amounting to SEK 5,016 M. Bilia shares in own custody have been used during the quarter with a total of 28,000 shares valued at SEK 4 M as a part of the purchase price for the acquisition of Lunds Bil i Varberg AB. The total holding of own shares as of 31 March 2025 was 3,745,992 shares. The equity/assets ratio amounted to 25 per cent (26). Net debt decreased by SEK 247 M during the quarter and amounted to SEK 7 ,809 M. Net debt excluding lease liabilities attributable to IFRS 16 amounted to SEK 2,787 M, a decrease of SEK 121 M since December 2024. The ratio of net debt to EBITDA excluding IFRS 16 amounted to 1.7 times, unchanged from the end of 2024. During the first quarter, SEK 153 M was paid out in respect of the fourth and final instalment of the dividend of SEK 6.60 per share approved by the 2024 AGM. Payments of SEK 60 M were also made in relation to acquisition of operations. At the end of the quarter, SEK 859 M of Bilia’s credit with the banks was utilised. The credit limit with Nordea and DNB totals SEK 2,300 M. During the first quarter, a bond loan of SEK 800 M was issued with a term of 5 years. The bond loan was raised to refinance a bond loan of SEK 500 M maturing in October 2025 and to finance general cor- porate purposes, including acquisitions and investments. Investments excluding right-of-use assets Acquisitions of non-current assets during the quarter amounted to SEK 88 M (122) excluding leased vehi- cles and SEK 382 M (502) including leased vehicles. By geographical market, the investments amounted to SEK 298 M (246) in Sweden, SEK 34 M (206) in Norway, SEK 14 M (6) in Western Europe and SEK 37 M (44) for the Parent Company and other central operations. Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Operating cash flow SEK M, R/one.tf/two.tf Operating cash flow –/five.tf/zero.tf/zero.tf /zero.tf /five.tf/zero.tf/zero.tf /one.tf,/zero.tf/zero.tf/zero.tf /one.tf,/five.tf/zero.tf/zero.tf /two.tf,/zero.tf/zero.tf/zero.tf Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Net debt SEK M Net debt and net debt/EBITDA, excl. IFRS /one.tf/six.tf Net debt/EBITDA times, R/one.tf/two.tf /zero.tf./zero.tf /zero.tf./five.tf /one.tf./zero.tf /one.tf./five.tf /two.tf./zero.tf /two.tf./five.tf /three.tf./zero.tf /zero.tf /five.tf/zero.tf/zero.tf /one.tf,/zero.tf/zero.tf/zero.tf /one.tf,/five.tf/zero.tf/zero.tf /two.tf,/zero.tf/zero.tf/zero.tf /two.tf,/five.tf/zero.tf/zero.tf /three.tf,/zero.tf/zero.tf/zero.tf Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Investments SEK M, R/one.tf/two.tf Investments in non-current assets, excl. IFRS /one.tf/six.tf in % of net turnover, R/one.tf/two.tf /zero.tf /five.tf/zero.tf/zero.tf /one.tf,/zero.tf/zero.tf/zero.tf /one.tf,/five.tf/zero.tf/zero.tf /two.tf,/zero.tf/zero.tf/zero.tf /two.tf,/five.tf/zero.tf/zero.tf /zero.tf./zero.tf /two.tf./zero.tf /four.tf./zero.tf /six.tf./zero.tf /eight.tf./zero.tf /one.tf/zero.tf./zero.tf GROUP RESUL TS 6 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 7 ===== Events during the first quarter • On 10 February, Bilia announced it was considering issuing senior unsecured floating rate bonds with an expected issue volume of SEK 800 M and an expected maturity of five years. Bilia further announced that on 5 February it became aware that collateral amounting to SEK 250 M did not constitute permitted security under the terms of the 2020/2025 bonds, and therefore represented a technical breach of negative pledge undertakings. Bilia announced that it had initiated a written procedure to seek the bondholders’ consent to amend the relevant terms. • On 10 February, Bilia announced that Sanna Lindgren has been appointed as the new HR Director and will be part of Bilia’s Group Management. Sanna joins Bilia from Lindex, and has a broad background in HR with experience from various management positions. • On 13 February, Bilia announced that the required majority had been secured to approve amendment of the relevant terms of the 2020/2025 bonds, and that a consent fee of 1.5 per cent of the nominal amount will be paid to the bondholders. • On 14 February, Bilia announced that it had issued new unsecured bonds totalling SEK 800 M with a maturity of five years. The interest rate was 3m STIBOR plus 190 basis points. • On 3 March, Bilia announced that it had decided to transfer 28,000 shares to Lunds Bil i Varberg Holding AB at a price of SEK 143.07 per share, based on the authorisation granted by the 2024 AGM. The shares were transferred as part of the consideration for Bilia’s acquisition of Lunds Bil i Varberg AB. • On 24 March, Bilia announced that it had signed a partnership agreement with Lynk & Co Sales Sweden AB to become a full-service partner for sales and servicing of new cars. Bilia will initially offer sales at five facilities in Sweden, with plans for future expansion. Events after the balance sheet date • No significant events have occurred after the balance sheet date. Further information about the above mentioned events along with other press information is available at bilia.com. Notable events Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Car purchase Financing, insurance, the Bilia-card, service subscrip- tions, tyre hotels, paint shops, accessory and tyre and wheel sales. Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Store Accessories, spare parts and e-commerce. Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Stations Fuels and car washes. Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Tyre centres Tyre hotels, wheel change, tyre and wheel sales and workshop services. Rim repair Renovation of rims. Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Service Original service, personal service technicians and repairs. Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Car glass Glass treatment, glass repair and windscreen replacement. Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Car care Reconditioning and AC-cleaning. Bilia är en One Stop Shop, med ett brett utbud av produkter och tjänster. Genom bilköpet knyter vi kunderna till oss. Våra anläggningar och digitala kanaler är de centrala kontaktytorna. Kundservice T elefon och online. Butik Tillbehör, reservdelar och e-handel. Glascenter Glasbehandling, glasreparation och vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning och verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker och reparationer Stationer Drivmedel och biltvätt. Bilvård Rekonditionering och AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad, buckelborttagning och bildemontering. Hyrbilar Uthyrning och Flexlease Damage Roadside assistance, body shop, paint shop and dent removal. Kundservice T elefon & online. Reuse Bildemontering & bildelar 7 BIL I A Å R S R E D O VIS NING 2 0 1 9 A f f ä r s m odell o c h s t r a t e g i Butik Tillbehör, reservdelar & e-handel. Glascenter Glasbehandling, glas- reparation & vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning & verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker & reparationer Stationer Drivmedel & biltvätt. Bilvård Rekonditionering & AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad & buckelborttagning Hyrbilar Uthyrning & Flexlease Rental cars Rentals and Flexlease. Kundservice T elefon & online. Reuse Bildemontering & bildelar 7 BIL I A Å R S R E D O VIS NING 2 0 1 9 A f f ä r s m odell o c h s t r a t e g i Butik Tillbehör, reservdelar & e-handel. Glascenter Glasbehandling, glas- reparation & vindrutebyten. Däckcenter Däckhotell, däckbyte, däck- försäljning & verkstadstjänster. Bilköp Finansiering, försäkring, biliakort, serviceabonnemang, däckhotell, lackbehandling samt tillbehörs- & däckförsäljning. Servicecenter Originalservice, personlig servicetekniker & reparationer Stationer Drivmedel & biltvätt. Bilvård Rekonditionering & AC- rengöring Skadecenter Vägassistans, plåtverkstad, lackverkstad & buckelborttagning Hyrbilar Uthyrning & Flexlease Car dismantling Dismantling, reuse and sales of used car parts. We offer services for everything related to car ownership during the car’s entire life cycle, from the purchase of a new car to recycling parts from a dismantled car. NOT ABLE EVENTS THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOT ABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES 7 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 ===== SIDA 8 ===== We aim to generate annual growth above 5 per cent over a business cycle. Average growth over the past five years has been 6 per cent, and between 2012 and 2024 our turnover has more than doubled from SEK 17 .7 Bn to SEK 39.2 Bn, while the number of employees has increased almost 50 per cent. During the period, we grew as much organically as through acquisitions. Growth in existing businesses Our ongoing efforts to improve and develop the existing business ensure that we can grow organically in the best way possible, while maintaining or improving profitability. We are continuing to work on our MobiliaCare operation- al area, which focuses on products and services that are common to all car brands. Growth through acquisitions Bilia has a broad and well-established base as regards car brands, service business and geographical presence. Over the past decade we have made some 45 acquisi- tions, which has entailed expansion into new countries, new car brands and new service areas. In light of the on- going consolidation in the industry, we see good oppor- tunities to create continued growth through acquisitions in areas of strategic importance to us. We want to grow in Sweden, Norway, Luxembourg and Belgium, but other European countries may also be of interest should the right kind of opportunity arise. Our aim is also to grow the Service Business by making acquisitions in existing and new areas of operation. Well-planned, strategically suita- ble acquisitions contribute to organic growth through our focus on efficiency and improvement, especially within the Service Business. A sustainable growth strategy NOT ABLE EVENTS LBs Lastbilar AB Kokstad Autosenter ASBil1Din Holding AB AS Insignia M Bilar Group AB Carlo Schmitz S.à r.lLunds Bil i Varberg AB Holmgrens Truck-Motor AB Bilcentergruppen Sörmland ABB MotorGroup Stockholm AB Bil AB Ove Olofsson & Olofsson Däckcenter AB Söderbergs Person - bilar i Norrköping ABHellgrens Lastvagns - service AB & Skellefteå Billackering AB 2022 2023 2024 2025 OUR CAR BRANDS 8 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOT ABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 9 ===== Higher result and improved margin in the Service Business Turnover and earnings First quarter 2025 Demand for servicing remained good during the quarter as our customers tend to take care of their cars even in tough economic times. Turnover for the Service Business increased or- ganically by 5 per cent during the quarter. In Sweden organic growth for the quarter was 1 per cent, while in Norway and Western Europe organic growth was as much as 16 per cent and 5 per cent respectively. The organic growth is adjusted for acquired and discontinued operations, exchange rate fluctuations, and the number of working days compared to the previous year. During the quarter, there was one fewer working day in Sweden, Belgium and Luxembourg, and one more working day in Norway. Growth in the Service Business First quarter Per cent Sweden Norway Western Europe Tota l Reported growth 3.1 15.1 23.5 7.4 Underlying growth –0.4 18.0 3.1 4.2 Calendar effect 1.6 –1.6 1.6 0.7 Organic growth 1.2 16.4 4.7 4.9 Operational earnings amounted to SEK 310 M (281), and the margin improved to 12.2 per cent (11.9). In Sweden, operational earnings amounted to SEK 229 M (228). In Norway, operational earnings amounted to SEK 59 M (32). In Western Europe, oper- ational earnings amounted to SEK 22 M (21). The booking situation for our workshops during the quarter was on a somwhat low level for Sweden and on a good level for Norway and Western Europe. Serviceaffären First quarter 2025 • Turnover amounted to SEK 2,539 M (2,363), an increase of 7 per cent. • Operational earnings amounted to SEK 310 M (281). • The margin was 12.2 per cent (11.9). SERVICE BUSINESS 9 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 10 ===== Turnover by geographic market First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Sweden 1,683 1,632 6,691 6,640 Norway 648 563 2,466 2,381 Western Europe 207 168 750 711 Total 2,539 2,363 9,908 9,732 Operational earnings by geographic market First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Sweden 229 228 897 896 Norway 59 32 207 180 Western Europe 22 21 93 91 Total 310 281 1,197 1,168 Margin by geographic market First quarter April 24– March 25 Full year 2024Per cent 2025 2024 Sweden 13.6 14.0 13.4 13.5 Norway 9.1 5.7 8.4 7.6 Western Europe 10.6 12.4 12.4 12.9 Total 12.2 11.9 12.1 12.0 Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Turnover SEK M Turnover Turnover SEK M, R/one.tf/two.tf /five.tf/zero.tf/zero.tf /one.tf,/zero.tf/zero.tf/zero.tf /one.tf,/five.tf/zero.tf/zero.tf /two.tf,/zero.tf/zero.tf/zero.tf /two.tf,/five.tf/zero.tf/zero.tf /three.tf,/zero.tf/zero.tf/zero.tf /six.tf,/zero.tf/zero.tf/zero.tf /seven.tf,/zero.tf/zero.tf/zero.tf /eight.tf,/zero.tf/zero.tf/zero.tf /nine.tf,/zero.tf/zero.tf/zero.tf /one.tf/zero.tf,/zero.tf/zero.tf/zero.tf /one.tf/one.tf,/zero.tf/zero.tf/zero.tf /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Operational earnings SEK M Operational earnings and margin Margin %, R/one.tf/two.tf /four.tf./zero.tf /eight.tf./zero.tf /one.tf/two.tf./zero.tf /one.tf/six.tf./zero.tf /two.tf/zero.tf./zero.tf SERVICE BUSINESS 10 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 11 ===== Service Business development since 2014 – First quarter 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net turnover, SEK M 1,039 1,048 1,223 1,500 1,561 1,704 1,796 1,880 2,056 2,257 2,363 2,539 Operational earnings, SEK M 93 102 130 193 169 218 263 319 315 297 281 310 Operational margin, % 9.0 9.7 10.6 12.9 10.8 12.8 14.7 16.9 15.3 13.2 11.9 12.2 Turnover in the Service Business comes from different services that are updated according to customers’ needs and expectations. Services encompass service centers, repair workshops, wheel storage and tyre sales, glass repair and replacement, car dismantling and sales of used spare parts. Our target is to grow the turnover and profitability of our Service Business. Since 2014 the turnover for the year has more than doubled, while the operational earnings has more than tripled. The margin has during the same period increased from 9.0 per cent to 12.2 per cent. The lower margin compared to previous years is primarily explained by somewhat lower profitability in new opera- tions, which includes both acquired operations and new- ly started operations. We work continuously to improve the profitability of our Service Business. Our Business Ex- cellence team together with our team within the Service Business identify the most effective processes and then implements these at the facilities where there is improve- ment potential as well as at our newly started and newly acquired businesses. The number of customers with service subscriptions amounted to 119,000 (119,000 at year-end 2024) compared with our long- term target of 130,000. The number of wheels stored on behalf of our customers amounted to 402,000 (394,000 at year-end 2024) compared with our long-term target of 1,000,000. /zero.tf /five.tf /one.tf/zero.tf /one.tf/five.tf Q/four.tf /two.tf/four.tf Q/one.tf /two.tf/five.tf Q/three.tf /two.tf/four.tf Q/two.tf /two.tf/four.tf Q/one.tf /two.tf/four.tf Q/four.tf /two.tf/three.tf Q/three.tf /two.tf/three.tf Q/two.tf /two.tf/three.tf Q/one.tf /two.tf/three.tf Q/four.tf /two.tf/two.tf Q/three.tf /two.tf/two.tf Q/two.tf /two.tf/two.tf Turnover Service Business, % Organic growth in the Service Business since 2022 per quarter, % Service och repair, 60 Damage centres incl. paint shop, 20 Tyres, wheels and glass, 15 Car dismantling, 5 /two.tf/zero.tf/two.tf/five.tf Q/one.tf /two.tf/zero.tf/two.tf/four.tf/two.tf/zero.tf/two.tf/three.tf/two.tf/zero.tf/two.tf/two.tf/two.tf/zero.tf/two.tf/one.tf/two.tf/zero.tf/two.tf/zero.tf/two.tf/zero.tf/one.tf/nine.tf/two.tf/zero.tf/one.tf/eight.tf/two.tf/zero.tf/one.tf/seven.tf/two.tf/zero.tf/one.tf/six.tf/two.tf/zero.tf/one.tf/five.tf/two.tf/zero.tf/one.tf/four.tf/zero.tf /three.tf/zero.tf,/zero.tf/zero.tf/zero.tf /six.tf/zero.tf,/zero.tf/zero.tf/zero.tf /nine.tf/zero.tf,/zero.tf/zero.tf/zero.tf /one.tf/two.tf/zero.tf,/zero.tf/zero.tf/zero.tf /one.tf/five.tf/zero.tf,/zero.tf/zero.tf/zero.tf /two.tf/zero.tf/two.tf/five.tf Q/one.tf /two.tf/zero.tf/two.tf/four.tf/two.tf/zero.tf/two.tf/three.tf/two.tf/zero.tf/two.tf/two.tf/two.tf/zero.tf/two.tf/one.tf/two.tf/zero.tf/two.tf/zero.tf/two.tf/zero.tf/one.tf/nine.tf/two.tf/zero.tf/one.tf/eight.tf/two.tf/zero.tf/one.tf/seven.tf/two.tf/zero.tf/one.tf/six.tf/two.tf/zero.tf/one.tf/five.tf/two.tf/zero.tf/one.tf/four.tf/zero.tf /one.tf/five.tf/zero.tf,/zero.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf,/zero.tf/zero.tf/zero.tf /four.tf/five.tf/zero.tf,/zero.tf/zero.tf/zero.tf Service subscriptions Wheels in storage SERVICE BUSINESS 11 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 12 ===== Bilaffären Higher order intake for new cars Turnover and earnings First quarter 2025 The Car Business’s deliveries of new cars, adjusted for acquired and discontinued operations, were 2 per cent higher during the quarter compared with the previous year. The higher level of new car deliveries was mainly attributable to Norway, but also Western Europe. In Sweden, underlying deliveries of new cars were lower than in the previous year. The Car Business’s deliveries of used cars, adjusted for acquired operations, were 8 per cent higher during the quarter compared with the previous year. The higher level of used car deliveries was mainly attributable to Sweden and Norway. The order intake for new cars, adjusted for acquired and discontinued operations, was 31 per cent higher during the quarter compared with the previous year. The higher underlying order intake was attributable to Sweden, Norway and Luxembourg. The order backlog amounted to 14,174 cars, which was on a par with the previous year but around 3,000 more than in December 2024. From a historical perspective, the order backlog in Sweden and Norway remained at a low level, which was partly explained by short delivery times for cars from car manufacturers. First quarter 2025 • Turnover amounted to SEK 7 ,798 M (7 ,329), an increase of 6 per cent. • Operational earnings amounted to SEK 57 M (76). • The margin was 0.7 per cent (1.0). New cars by geographic market Deliviveries Order backlog First quarter April 24– March 25 Full year 2024 31 March 2025 31 March 2024Number of 2025 2024 Sweden 1) 6,427 6,639 28,162 28,374 8,368 8,581 Norway 2,011 1,245 8,747 7,981 2,760 2,944 Western Europe 2) 1,767 1,438 5,792 5,463 3,046 2,935 Total 10,205 9,322 42,701 41,818 14,174 14,460 1) Acquired and new operations are included in deliveries during the quarter with 429 and with 762 in order backlog. 2) Acquired and new operations are included in deliveries during the quarter with 276 and with 369 in order backlog. CAR BUSINESS 12 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 13 ===== Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Turnover SEK M Turnover Turnover SEK M, R/one.tf/two.tf /zero.tf /two.tf,/zero.tf/zero.tf/zero.tf /four.tf,/zero.tf/zero.tf/zero.tf /six.tf,/zero.tf/zero.tf/zero.tf /eight.tf,/zero.tf/zero.tf/zero.tf /one.tf/zero.tf,/zero.tf/zero.tf/zero.tf /two.tf/four.tf,/zero.tf/zero.tf/zero.tf /two.tf/six.tf,/zero.tf/zero.tf/zero.tf /two.tf/eight.tf,/zero.tf/zero.tf/zero.tf /three.tf/zero.tf,/zero.tf/zero.tf/zero.tf /three.tf/two.tf,/zero.tf/zero.tf/zero.tf /three.tf/four.tf,/zero.tf/zero.tf/zero.tf /zero.tf /five.tf/zero.tf /one.tf/zero.tf/zero.tf /one.tf/five.tf/zero.tf /two.tf/zero.tf/zero.tf /two.tf/five.tf/zero.tf Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Operational earnings SEK M Operational earnings and margin Margin %, R/one.tf/two.tf /zero.tf./zero.tf /one.tf./zero.tf /two.tf./zero.tf /three.tf./zero.tf /four.tf./zero.tf /five.tf./zero.tf Adjusted for acquired and discontinued operations and exchange rate fluctuations, turnover for the quarter was 1 per cent higher than in the previous year. Operational earnings amounted to SEK 57 M (76), and the margin was 0.7 per cent (1.0). The result from sales of used cars remained at a good, stable level and amount- ed to SEK 55 M (69). The lower result was attributable to Sweden and Norway, while Western Europe reported higher results. Results from sales of new cars remained low, with a profit of SEK 2 M (7). The lower result on new car sales was attributable to Sweden, while Norway and Western Europe reported improved and higher results respectively than in the previous year. Operational earnings for the Car Business in Sweden amounted to SEK 1 M (33). The result from sales of used cars amounted to SEK 26 M (32). The lower result was mainly attributable to a lower gross profit margin. The number of used cars in stock was deemed to be at a good level at the end of the quarter. The result from sales of new cars amounted to SEK –25 M (1). The lower result was mainly attributable to lower turnover. Operational earnings for the Car Business in Norway amounted to SEK 3 M (3). The result from sales of used cars amounted to SEK 16 M (30). The lower result was mainly attributable to a lower gross profit margin. The number of used cars in stock was deemed to be at a good level at the end of the quarter. The result from sales of new cars amounted to SEK –13 M (–27). The improved result was attributable to a higher turnover related to more new car deliveries. Operational earnings for the Car Business in Western Europe amounted to SEK 53 M (40). The result from sales of used cars amounted to SEK 13 M (6). The result from sales of new cars amounted to SEK 40 M (34). The higher result is mainly attributable to our new operation in Luxem- bourg. Deliveries of used cars by geographic market First quarter April 24– March 25 Full year 2024Number of 2025 2024 Sweden 1) 9,424 8,517 37,229 36,322 Norway 3,433 2,992 12,911 12,470 Western Europe 2) 933 646 3,034 2,747 Total 13,790 12,155 53,174 51,539 1) Acquired operations are included in deliveries during the quarter with 357 . 2) Acquired operations are included in deliveries during the quarter with 269. CAR BUSINESS 13 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 14 ===== Turnover by geographic market First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Sweden 4,777 4,929 19,671 19,823 Norway 1,829 1,451 7,569 7,191 Western Europe 1,192 949 3,936 3,694 Total 7,798 7,329 31,176 30,707 Operational earnings by geographic market First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Sweden 1 33 154 185 Norway 3 3 51 52 Western Europe 53 40 160 147 Total 57 76 365 384 Margin by geographic market First quarter April 24– March 25 Full year 2024Per cent 2025 2024 Sweden 0.0 0.7 0.8 0.9 Norway 0.1 0.2 0.7 0.7 Western Europe 4.4 4.2 4.1 4.0 Total 0.7 1.0 1.2 1.3 CAR BUSINESS 14 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 15 ===== Drivmedelsaffären Lower volumes and fuel prices Turnover and earnings First quarter 2025 The Fuel Business encompasses fuel stations and car washes and is concentrated to Sweden. The result for the quarter amounted to SEK 15 M (13). First quarter 2025 • Turnover amounted to SEK 198 M (225), a decrease of 12 per cent. • Operational earnings amounted to SEK 15 M (13). • The margin was 7 .6 per cent (5.7). /zero.tf /one.tf/zero.tf/zero.tf /two.tf/zero.tf/zero.tf /three.tf/zero.tf/zero.tf /four.tf/zero.tf/zero.tf Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Turnover SEK M Turnover Turnover SEK M, R/one.tf/two.tf /five.tf/zero.tf/zero.tf /seven.tf/five.tf/zero.tf /one.tf,/zero.tf/zero.tf/zero.tf /one.tf,/two.tf/five.tf/zero.tf /one.tf,/five.tf/zero.tf/zero.tf /zero.tf /five.tf /one.tf/zero.tf /one.tf/five.tf Q/one.tf /two.tf/five.tfQ/four.tf /two.tf/four.tfQ/three.tf /two.tf/four.tfQ/two.tf /two.tf/four.tfQ/one.tf /two.tf/four.tfQ/four.tf /two.tf/three.tfQ/three.tf /two.tf/three.tfQ/two.tf /two.tf/three.tf Operational earnings SEK M Operational earnings and margin Margin %, R/one.tf/two.tf /zero.tf./zero.tf /two.tf./zero.tf /four.tf./zero.tf /six.tf./zero.tf Fuel Business First quarter April 24– March 25 Full year 20242025 2024 Turnover, SEK M 198 225 871 899 Operational earnings, SEK M 15 13 34 31 Margin, per cent 7.6 5.7 3.9 3.5 FUEL BUSINESS 15 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 16 ===== Sustainability issues are becoming an increasingly integral part of the automotive industry and of our own operations. Sus- tainability, and the climate issue in particu- lar, are seen as important challenges that the industry must meet in order to ensure its long-term survival. These challenges are regulated by international laws and objec- tives, and are also expected and demanded by business partners and customers. Circular business model We help extend the life of a car through maintenance and repair at our service and damage centres. By selling used cars and offering rental cars to customers who use their cars on a limited basis, we help to maximise value, i.e. to ensure that cars are used as efficiently and for as long as possible. We contribute to viewing waste as a resource by recovering materials at our five car dismantling centres in Swe- den and Norway when the car is no longer in use. The parts that are not reused in our workshops are recycled by our waste contractors. We contribute to a holis- tic approach by working with different partners in our value chain; this includes participating in research projects. A more sustainable value chain Bilia is part of a value chain, and we exert an influence primarily by choosing car brands with care, but also by requiring all suppliers to follow our Supplier Code of Conduct. In our offering to customers, we contribute to a sustainable value chain for example through our circular business model, our focus on renewable energy, and our systematic work environment efforts for mental and physical health. When it comes to using a car, we work with needs analyses to find the most suitable car based on the customer’s circumstances. We offer a wide range of cars with different fuels, and inform cus- tomers about the importance of service, repair and dismantling. Our activities during the quarter for environmental objectives Examples of activities include continued work on preparing a climate strategy, developing a communication plan on how customers can reduce their climate impact, and starting up a project on waste management in Sweden. Our activities during the quarter for social sustainability Examples of activities include conduct- ing employee performance appraisals, measuring new employees’ perceptions of their introduction to their workplace, and initiating training in crisis planning. Our activities during the quarter for corporate responsibility Examples of activities include the revision of national policies into Group-wide policies, and system implementation for future CSRD reporting. Sustainability SUST AINABILITY New cars from manufacturers Bilia services and repairs cars Bilia sells cars Bilia buys used cars Used cars for sale Used parts for repair Bilia dismantles cars Cars go for recycling Circular business model There is no clear definition of circular economy, but fundamentally it is about value sharing and resource efficiency, in order to reduce the need for raw materials and create less waste. A more sustainable way of doing business 16 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUST AINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 17 ===== Risks and opportunities Risks and risk takings are a natural part of Bilia’s business operations. A good understanding of the risks togeth- er with an efficient way of identifying, evaluating and managing the risks are important for Bilia’s short-term and long-term success. Bilia has a formal yearly process at Group level to identify, plan and reduce identified risks in the business. Please refer to the annual report for a description of the risks and Bilia’s risk management. With the exception of the current uncertainty regard- ing the introduction of trade tariffs between different countries, events that have transpired in the wider world since publication of the annual report are not deemed to entail any new material risks or changes in working methods compared with the description in the annual report for 2024. It is not possible to assess the impact of new trade tariffs on Bilia’s future operations, but future negative impact cannot be ruled out. Seasonal variations and number of working days Bilia’s business and operating profit are affected by seasonal variations to a limited extent. The number of working days for the reporting periods is affected by when national holidays fall in different years. Business and operating profit in mainly the Service Business, but also the Car Business, are affected by the number of working days. Related party transactions For a description of related party transactions, see page 90, “Note 31” of the 2024 Annual Report. Parent Company Bilia AB is responsible for the Group’s management, strategic planning, purchasing, public relations, business development, legal, marketing, HR, real estate activities, accounting and financing. Annual General Meeting 2025 The Annual General Meeting is held on Friday 25 April 2025. The Board proposes a dividend of SEK 5.60 (6.60) per share, to be paid in four instalments of SEK 1.40 per share. The proposed dividend represents 78 per cent of earnings per share which is higher than the historical level and in accordance Bilia’s dividend policy. Other information VISION AND BUSINESS IDEA CULTURE AND CORE VALUES CUSTOMER PROMISE A better experience. Our general goal is to create an experience that ex- ceeds the customer’s expectations, and adds value that distinguishes Bilia from its competitors. Dedication, Competence, Genuine, Respect. At Bilia we are engaged in the meeting with custom- ers, with each other and with suppliers. Competence gives solutions and suggestions that benefit the cus- tomer the most. Being genuine and showing respect build confidence in Bilia and our employees. The best service company in the business – through consideration for customers, colleagues and the world we live in. Bilia will create a sustainable business through consid- eration and pride by offering attractive and innova- tive solutions for the mobile human being. OTHER INFORMA TION 17 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMA TION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 18 ===== Consolidated Statement of Income and Other Comprehensive Income First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Net turnover 9,935 9,371 39,716 39,151 Costs of goods sold –8,309 –7,867 –33,181 –32,738 Gross profit 1,626 1,504 6,535 6,413 Other operating income 5 9 27 32 Selling and administrative expenses –1,333 –1,224 –5,299 –5,190 Other operating expense –2 –3 –22 –23 Result from interests in joint ventures –2 — –37 –35 Operating profit 1) 294 287 1,204 1,197 Financial income 3 2 22 21 Financial expenses –117 –103 –449 –436 Result from interests in associated companies 14 16 79 81 Profit before tax 194 201 856 863 Tax –45 –45 –201 –202 Net profit for the period 149 156 655 662 Other comprehensive income Items that can be reclassified to profit or loss Translation differences attributable to foreign operations –80 28 –101 6 Change in fair value of cash flow hedges, net after tax 5 –11 0 –16 Share of OCI related to joint ventures –4 — –4 0 Other comprehensive income after tax –78 17 –105 –10 Comprehensive income for the period 71 173 550 652 First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Net profit attributable to: – Parent Company's shareholders 149 156 655 662 – Non-controlling interests 0 0 0 0 Comprehensive income attributable to: – Parent Company's shareholders 71 173 550 652 – Non-controlling interests 0 0 0 0 Basic earnings per share, SEK 1.61 1.70 7.10 7.19 Diluted earnings per share, SEK 1.61 1.70 7.07 7. 16 Average number of shares, '000 92,536 91,984 92,268 92,132 Average number of shares, after dilution, '000 92,919 92,200 92,621 92,443 1) Amortisation and depreciation according to plan by asset class: – Intellectual property –55 –53 –219 –217 – Land and buildings –28 –22 –109 –103 – Equipment, tools, fixtures and fittings –35 –32 –139 –137 – Leased vehicles –63 –89 –280 –306 – Right-of-use assets –196 –171 –751 –725 Total –377 –366 –1,498 –1,488 Räkenskaper koncernen ACCOUNTS – GROUP 18 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 19 ===== Consolidated Statement of Financial Position, Summary SEK M 31 March 2025 31 Dec 2024 31 March 2024 Assets Non-current assets Intellectual property 876 920 932 Goodwill 1,645 1,659 1,509 Leased vehicles 1,879 1,952 2,242 Right-of-use assets 5,113 5,297 4,513 Other tangible assets 2,107 2,118 1,941 Financial assets 788 818 749 Deferred tax assets 43 44 38 Total non-current assets 12,451 12,809 11,924 Current assets Inventories 4,912 5,148 4,734 Other receivables 2,568 2,373 2,421 Cash and cash equivalents 359 331 367 Total current assets 7,839 7,851 7,522 TOTAL ASSETS 20,290 20,660 19,446 Equity and liabilities Equity 5,016 4,937 5,011 Non-current liabilities Bond issue 1,591 796 1,295 Interest-bearing liabilities 683 1,434 34 Lease liabilities 4,432 4,624 3,953 Other liabilities and provisions 1,025 1,089 1,335 Deferred tax liabilities 529 542 540 Total non-current liabilities 8,259 8,485 7,156 Current liabilities Bond issue 500 500 — Interest-bearing liabilities 751 932 2,069 Lease liabilities 996 978 848 Other liabilities and provisions 4,768 4,827 4,361 Total current liabilities 7,015 7,238 7,279 TOTAL EQUITY AND LIABILITIES 20,290 20,660 19,446 Statement of Changes in Group Equity, Summary SEK M First quarter 2025 Full year 2024 First quarter 2024 Opening balance 4,937 4,841 4,841 Decided dividend — –607 — Incentive program 4 7 –3 Revaluation of call/put option — –17 — Use of own shares in custody as payment for acquisition of operations 4 60 — Comprehensive income for the period 71 652 173 Equity at end of period 5,016 4,937 5,011 Equity attributable to: – Parent Company's shareholders 5,016 4,937 5,011 – Non-controlling interests 0 0 0 ACCOUNTS – GROUP 19 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 20 ===== Consolidated Statement of Cash Flows First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Operating activities Profit before tax 194 201 856 863 Depreciation and impairment losses 386 368 1,532 1,513 Other items not affecting cash –27 –59 –122 –153 Tax paid –79 –106 –279 –306 Change in inventories 208 167 33 –7 Change in operating receivables –274 200 –59 416 Change in operating liabilities 135 –163 22 –275 Cash flow from operating activities 542 609 1,984 2,050 Investing activities Acquisition of non-current assets –88 –122 –449 –483 Disposal of non-current assets 8 5 11 8 Acquisition of leased vehicles –294 –381 –1,147 –1,234 Disposal of leased vehicles 285 288 1,248 1,251 Operating cash flow 453 400 1,646 1,592 Net change in financial assets 105 –7 0 –112 Acquisition of operations –60 –238 –456 –635 Divestment of operations — 1 0 1 Cash flow from investing activities –44 –453 –794 –1,203 Financing activities Borrowings 803 — 806 3 Repayment of loans 0 0 –1 –1 Repayment of lease liabilities –184 –172 –715 –703 Net change in short-term credit facilities –932 314 –682 564 Dividend paid to the company's shareholders –153 –203 –609 –659 Cash flow from financing activities -466 –61 –1,201 –795 Change in cash and cash equivalents, excl. exchange differences 32 95 –11 52 Exchange difference in cash and cash equivalents –4 7 3 14 Change in cash and cash equivalents 28 103 –8 66 Cash and cash equivalents at start of period 331 264 367 264 Cash and cash equivalents at end of period 359 367 359 331 ACCOUNTS – GROUP Specification of interest-bearing net debt and EBITDA Specification of interest-bearing net debt SEK M 31 March 2025 31 Dec 2024 31 March 2024 Current interest-bearing liabilities 1,448 1,613 2,234 Non-current interest-bearing liabilities 2,491 2,508 1,572 Lease liabilities IFRS 16 5,022 5,148 4,397 Cash and cash equivalents –359 –331 –367 Interest-bearing assets –86 –152 –83 Shares in associated companies –707 –730 –680 Net debt at end of the period 7, 8 0 9 8,056 7, 074 Net debt at end of the period, excluding IFRS 16 2,787 2,908 2,676 Net debt in relation to EBITDA SEK M April 24– March 25 Full year 2024 April 23– March 24 Operating profit 1,204 1,197 1,323 Structural costs, acquisition costs and impairment losses 19 19 16 Total depreciation and amortisation 1,498 1,488 1,428 – depreciation of leased vehicles with repurchase agreements –249 –272 –311 EBITDA 2,472 2,432 2,456 Net debt to EBITDA ratio, times 3.2 3.3 2.9 Operating profit excluding IFRS 16 1,081 1,080 1,239 Structural costs, acquisition costs and impairment losses 19 19 16 Total depreciation and amortisation 1,498 1,488 1,428 – depreciation of leased vehicles with repurchase agreements –249 –272 –311 – depreciation of right-of-use assets –661 –635 –586 EBITDA excluding IFRS 16 1,688 1,681 1,786 Net debt to EBITDA ratio excluding IFRS 16, times 1.7 1.7 1.5 20 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 21 ===== Note 1 Accounting principles This interim report has been prepared in accordance with Inter- national Financial Reporting Standards (IFRS) IAS 34 and appli- cable provisions of the Annual Accounts Act. The interim report for the Parent Company has been prepared in accordance with the Annual Accounts Act and RFR2. The same accounting poli- cies and calculation methods have been applied for the Group and the Parent Company as in the most recent Annual Report except for rental cars and company cars leased under financial leasing agreements. These are classified as Right-of-use assets from 2025 onwards, compared to previously as Leased vehicles and Other tangible assets, respectively. The comparison peri- ods have been restated. IFRS 18 Presentation and Disclosure in Financial Statements replaces IAS 1 Presentation of Financial Statements for financial years beginning on or after 1 January 2027 . The impact of the application of the new standard on Bilia’s financial statements is currently being assessed. Otherwise, no new or amended standards that have not yet entered into force are expected to have any material effect on the Group’s financial statements. Disclosures in accordance with IAS 34, paragraph 16 A, are made not only in the financial statements and related notes, but also in other parts of this interim report. Figures in the interim report are rounded, which is why notes and tables may not add up. Note 2 Financial instruments Valuation principles and classifications of Bilia’s financial instru- ments as described in the annual report for 2024 have been applied consistently during the reporting period. To hedge electricity costs, Bilia has decided to use electricity derivatives to even out price variations on the electricity market. Bilia hedges gradually up to five years and builds up the volume of electricity contracts for each delivery date. The hedges meet the requirements for effectiveness, which means that the changes in value are recognised in other comprehensive income. The forward agreements used to hedge contracted purchases of electricity are classified as cash flow hedges and amounted to a liability of SEK 9 M. Bilia’s financial instruments in the form of currency deriv- atives are valued at fair value over the statement of income and are valued according to valuation level 2. The value of the currency derivatives was not material and did not constitute a significant item in the statement of financial position for the Group. Valuation of the currency derivatives at fair value has resulted in an income of SEK 5 M, which was matched by a cost for the revaluation of assets in foreign currency. The effect on the Group’s result was therefore SEK 0 M. Bilia’s financial instruments valued at fair value over equity consist of put/call options issued in connection with acqui- sitions and are valued at fair value based on future exercise price according to valuation level 3. The option is reported as provisions in the statement of financial position and amounted to SEK 51 M. Note 3 Reconciliation of operational earnings with operating profit Amortisation and impairment losses of surplus values for the full year 2024 include a write-down amounting to SEK 15 M relating to a smaller tyre operation i Sweden. First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Operational earnings 344 333 1,455 1,444 – Acquisition-related costs — — –5 –5 – Amortisation and impairment losses of surplus values –49 –47 –209 –207 – Result from interests in joint ventures –2 — –37 –35 Operating profit 294 287 1,204 1,197 Tilläggsupplysningar ADDITIONAL DISCLOSURES – GROUP 21 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 22 ===== Note 4 Group’s operating segments Segment reconciliation mainly refer to the elimination of internal sales from the Service Business to the Car Business but also include central functions such as purchasing, public relations, business development, legal, marketing, HR, real estate, accounting and financing. First quarter Service Car Fuel Corporate functions Eliminations Group 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 External sales 1,926 1,809 7,798 7,329 198 225 13 8 — — 9,935 9,371 Internal sales 613 554 — — — — 295 261 –908 –815 — — Depreciation/amortisation excl. of surplus values –159 –140 –196 –210 –1 0 –20 –16 — — –377 –366 Operational earnings 310 281 57 76 15 13 –38 –37 — — 344 333 Amortisation of surplus values –25 –24 –24 –23 — — — — — — –49 –47 Result from interests in joint ventures — — — — — — –2 — — — –2 — Group operating profit 294 287 Service Car First quarter Sweden Norway Western Europe Total Sweden Norway Western Europe Total 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 External sales 1,290 1,231 455 429 180 149 1,926 1,809 4,777 4,929 1,829 1,451 1,192 949 7,798 7,329 Internal sales 393 401 193 134 27 19 613 554 — — — — — — — — Depreciation/amortisation excl. of surplus values –106 –97 –39 –31 –15 –12 –159 –140 –146 –142 –38 –57 –13 –11 –196 –210 Operational earnings 229 228 59 32 22 21 310 281 1 33 3 3 53 40 57 76 Amortisation of surplus values –13 –12 –5 –5 –7 –7 –25 –24 –13 –13 –4 –5 –6 –5 –24 –23 ADDITIONAL DISCLOSURES – GROUP 22 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 23 ===== Note 5 Acquisitions and divestments of operations Acquisitions in 2025 On 27 August 2024, Bilia reached an agreement to acquire Lunds Bil i Varberg AB. The business is conducted in one facility in Varberg and is a full-service facility with sales and service of BMW. During the 2023/24 financial year, turnover amount- ed to approximately SEK 178 M with an operating margin of 4.5 per cent. The number of employees was 17 people at the end of 2024. The purchase price on a debt and cash-free basis amounts to approximately SEK 90 M and consists of cash and 28,000 Bilia shares. Acquired customer relations amount to SEK 18 M and are amortized over 10 years. Acquired goodwill amounts to SEK 20 M. The acquisition was effectuated on 3 March 2025 and has not had any significant impact on the Group’s financial position. The acquisition analysis is prelimi - nary pending the final completion of the financial statements for the day of taking possession. Acquisitions in 2024 On 26 October 2023 Bilia reached an agreement to acquire B MotorGroup Stockholm AB. The business is conducted in two modern facilities with sales and service of Jaguar and Land Rover. During 2022 turnover amounted to approximately SEK 450 M with an operating margin of 1.1 per cent. The number of employees was 40 at the time of acquisition. The acquisition was effectuated on 2 January 2024. On 23 February the option was exercised regarding the remaining minority of 10 per cent in Bilia Holding S.à r.l. The paid amount of EUR 10.7 M corresponded to the reported provision. One facility for Jaguar and Land Rover in Norway, two facili- ties for XPENG in Sweden and two facilities for XPENG in Norway have been acquired in 2024. These have not entailed any signifi- cant impact on the group’s financial position. On 23 February Bilia signed an agreement to acquire Bil AB Ove Olofsson and Olofsson Däckcenter AB in Stockholm, a dealer of Volkswagen, Audi, Skoda, Seat and Cupra cars as well as Volkswagen transport vehicles with associated sales of used cars and service and tire operations. The operation is conducted in five facilities in Stockholm. During 2023 the turn- over amounted to approximately SEK 1.3 Bn, with an operating margin of 3.2 per cent. The number of employees was 165 at the end of 2023. The capital employed plus agreed surplus values amounts to approximately SEK 200 M. The acquisition was ef- fectuated on 2 May 2024. The acquisition analysis is preliminary pending the final completion of the financial statements for the day of taking possession. On 13 June Bilia reached an agreement to acquire Carlo Schmitz S.à r.l. in Luxembourg. The company is a dealer of new BMW cars with associated sales of used cars and service activities. The operation is conducted in one facility in Luxem- bourg. During the business year 2023/2024, the company had a turnover of approximately EUR 80 M, with an operating margin of 3.0 per cent. The capital employed plus agreed surplus values amounts to approximately EUR 27 M. Approximately 20 per cent of the purchase price consisted of 508,658 Bilia shares. The num- ber of employees was 90 at the time of acquisition. The acquisi- tion was effectuated on 1 October 2024. The acquisition analysis is preliminary pending the final completion of the financial statements for the day of taking possession. Preliminary net assets in the acquired operations 2024 SEK M Intangible assets, customer relations 139 Property, plant and equipment 106 Right-of-use assets 374 Deferred tax assets 4 Inventories 358 Trade receivables and other receivables 110 Cash and cash equivalents 65 Interest-bearing liabilities –380 Trade payables and other liabilities –268 Deferred tax liability –39 Net identifiable assets and liabilities 469 Consolidated goodwill 171 Net identifiable assets and liabilities, including goodwill 640 Purchase consideration paid –640 Purchase consideration for exercised option –120 Less: Purchase consideration paid with own shares 60 Less: Cash and cash equivalents in acquired operations 65 Net effect on cash and cash equivalents –635 ADDITIONAL DISCLOSURES – GROUP 23 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 24 ===== Income Statement for Parent Company, Summary First quarter April 24– March 25 Full year 2024SEK M 2025 2024 Net turnover 236 202 950 916 Other operating income 0 2 0 2 Administrative expenses –278 –243 –1,098 –1,063 Operating result 1) –43 –39 –147 –144 Result from financial items Result from interest in Group companies and joint ventures — — –89 –89 Interest income and similar line items 33 38 144 149 Interest expenses and similar line items –53 –52 –215 –214 Result after financial items –63 –53 –308 –298 Appropriations — — 733 733 Result before tax –63 –53 425 435 Tax 0 5 –120 –116 Net result for the period –63 –48 304 319 1) Amortisation and depreciation according to plan by asset class: - Buildings –9 –6 –34 –31 - Equipment, tools, fixtures and fittings –1 –1 –2 –2 Total –10 –7 –36 –33 Räkenskaper moderbolaget Balance Sheet for Parent Company, Summary SEK M 31 March 2025 31 Dec 2024 31 March 2024 Assets Non-current assets Property, plant and equipment 327 313 276 Shares in Group companies 3,513 3,513 3,326 Receivables from Group companies 447 447 447 Other tangible assets 67 67 72 Total non-current assets 4,354 4,340 4,121 Current assets Receivables from Group companies 2,241 2,270 2,319 Other receivables 363 373 269 Cash and cash equivalents 9 3 1 Total current assets 2,612 2,645 2,589 TOTAL ASSETS 6,966 6,985 6,710 Equity and liabilities Equity 938 995 1,166 Untaxed reserves 1,582 1,582 1,553 Non-current liabilities Bond issue 1,591 796 1,295 Interest-bearing liabilities 650 1,400 — Liabilities to Group companies 447 447 447 Other liabilities 130 130 139 Total non-current liabilities 2,818 2,773 1,881 Current liabilities Bond issue 500 500 — Interest-bearing liabilities 215 280 1,423 Liabilities to Group companies 542 307 257 Other liabilities 372 549 429 Total current liabilities 1,629 1,635 2,110 TOTAL EQUITY AND LIABILITIES 6,966 6,985 6,710 ACCOUNTS – PARENT COMPANY 24 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 25 ===== The Group Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Net turnover, SEK M 9,826 8,708 10,108 9,371 10,568 8,984 10,228 9,935 EBITDA, SEK M 677 562 643 573 646 521 692 613 EBITDA excl. IFRS 16, SEK M 510 395 480 401 460 327 492 409 Operational earnings, SEK M 444 335 414 333 410 281 420 344 Operational margin, % 4.5 3.8 4.1 3.6 3.9 3.1 4.1 3.5 Operating profit, SEK M 394 288 354 287 343 216 351 294 Operating margin, % 4.0 3.3 3.5 3.1 3.3 2.4 3.4 3.0 Profit before tax, SEK M 330 216 293 201 262 133 267 194 Profit/loss for the period, SEK M 262 169 250 156 206 105 195 149 Operating cash flow, SEK M 519 269 147 400 423 480 289 453 The ratio of net debt to EBITDA excl. IFRS 16, times 1) 1.1 1.1 1.3 1.5 1.6 1.5 1.7 1.7 Return on capital employed, % 1) 15.7 14.3 12.5 11.4 10.8 10.0 9.7 9.5 Return on equity, % 1) 25.5 22.4 19.8 17.6 16.7 15.1 13.8 13.5 Equity/assets ratio, % 23 24 25 26 23 23 24 25 Earnings per share, SEK 2.85 1.83 2.71 1.70 2.24 1.15 2.10 1.61 Equity per share, SEK 49 51 53 54 50 51 53 54 Average number of shares, '000 91,984 91,984 91,984 91,984 92,009 92,017 92,515 92,536 Outstanding number of shares, '000 91,984 91,984 91,984 91,984 92,017 92,017 92,526 92,554 Holdings of own shares, '000 4,316 4,316 4,316 4,316 4,283 4,283 3,774 3,746 1) Rolling 12 months. Business area – Service Business Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Turnover, SEK M 2,190 1,933 2,485 2,363 2,482 2,136 2,751 2,539 Operational earnings, SEK M 275 205 320 281 292 221 374 310 Margin, % 12.5 10.6 12.9 11.9 11.7 10.4 13.6 12.2 Reported growth, % 7.7 12.9 8.5 4.7 13.4 10.5 10.7 7.4 Organic growth, % 10.2 10.5 9.4 8.1 8.3 6.3 6.5 4.9 Business area – Car Business Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Turnover, SEK M 7,832 6,920 7,967 7,329 8,402 7,067 7,909 7,798 Operational earnings, SEK M 198 151 144 76 155 73 80 57 Margin, % 2.5 2.2 1.8 1.0 1.9 1.0 1.0 0.7 New cars delivered, number 11,655 9,547 11,361 9,322 11,141 9,305 12,050 10,205 Order backlog of new cars, number 19,847 17,858 14,262 14,460 12,652 12,444 11,132 14,174 Used cars delivered, number 11,729 10,926 10,851 12,155 13,844 12,996 12,544 13,790 Business area – Fuel Business Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Turnover, SEK M 287 288 277 225 242 220 212 198 Operational earnings, SEK M 5 6 3 13 7 3 8 15 Margin, % 1.6 2.2 1.0 5.7 3.0 1.5 3.6 7.6 KVARTALSÖVERSIKT QUARTERL Y REVIEW 25 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 26 ===== Bilia applies guidelines from ESMA (European Securities and Markets Authority) concerning alternative perfor- mance measures (APMs). Even though these perfor- mance 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 Bilia’s performance. 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. Amortisation of surplus values Occurs in connection with acquisitions of operations and is recognised under intangible assets. Capital employed Balance sheet total less non-interest-bearing liabilities and provisions as well as deferred tax liabilities. Comparable operations Financial information and number of units that are adjusted for operations that have been acquired or dis- posed of during one of the periods. Deliveries Cars that have been physically turned over to the custom- er and invoiced and are included in reported net turnover. EBITDA Operational earnings plus total depreciation/amortisa- tion less amortisation of surplus values and depreciation of leased vehicles with repurchase agreements. Equity/assets ratio Equity in relation to balance sheet total. Excluding IFRS 16 Information in accordance with accounting standards before the introduction of IFRS 16 Leases. Result from sale of operation Difference between purchase consideration and the oper- ation’s consolidated carrying amount, less selling costs. Growth Increase or decrease of net turnover in relation to the preceding year. 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, interest-bearing current and long- term receivables, interests in associated companies and leased vehicles. Performance measures that include interest-bearing liabilities are calculated excluding the effect of transaction costs and premium calculated according to the effective interest method. Operating cash flow Cash flow from operating activities plus investments in and disposals of intangible assets and property, plant and equipment. Operating margin Operating profit in relation to net turnover. Operational earnings Operating profit, excluding revenues and costs that affect comparability and excluding result from interests in joint ventures. Revenues and costs that affect comparability between accounting periods and/or operating segments include, but are not limited to, acquisition-related expens- es, value adjustments, restructurings and amortisation of surplus values. For the business areas operational earn- ings is the only result measurement in use. Operational margin Operational earnings in relation to net turnover. For the business areas the operational margin is called “Margin”. Order backlog New cars ordered by the customer but not yet delivered. Organic growth Net turnover is adjusted for operations that have been acquired or disposed of during one of the periods. Adjust- ment is also made for exchange rate differences and for calendar effect. Return on capital employed Operating profit plus financial income in relation to aver- age capital employed. Return on equity Net profit for the year in relation to average equity. Service subscriptions Service subscriptions where customers have or are thought to have their servicing done at a Bilia facility. Structural costs Costs that significantly alter the thrust and/or scope of the operations. 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. Underlying values Values that are adjusted for operations that have been acquired or disposed of during one of the periods. Ad- justment is made for exchange rate differences, where applicable. Reconciliation of performance measures can be found at bilia.com/en/investors/alternative-key-figures/ Definitions and performance measures DEFINITIONS AND PERFORMANCE MEASURES 26 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 27 ===== Press and analyst meeting On Friday 25 April 2025 Bilia arranges a press and analyst meeting, where CEO Per Avander, CFO Kristina Franzén and Investor Relations Carl Fredrik Ewetz will present the report and answer questions. The presentation starts at 09:00 CEST. If you wish to participate via webcast, please use the link below. Via the webcast you can ask written questions. https://bilia.events.inderes.com/q1-report-2025 If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. https://conference.inderes.com/teleconfer - ence/?id=5007642 Contact For further information please contact: Carl Fredrik Ewetz, Investor Relations +46 (0) 10 497 07 73, carl.fredrik.ewetz@bilia.se 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 Auditor review This interim report has not been subject to review by the auditors. Prospective information Prospective information in this report is based on man- agement’s expectations at the time of the report. Even if the Board of Directors and management find the expec- tations to be reasonable, there is no guarantee that these expectations are or will turn out to be correct. Conse- quently, future outcomes may vary considerably com- pared with those foreseen in the prospective information due to such circumstances as a changed market situa- tion for the Group’s services or more generally changed conditions relating to the economy, markets and compe- tition, 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. Translation This document is a translation of the Swedish original. In the event of any discrepancies between this translation and the Swedish original, the latter should prevail. Calendar Interim Report April–June 2025: 18 July 2025 Interim Report July–September 2025: 23 October 2025 Year-end Report October–December 2025: 5 February 2026 Interim Report January–March 2026: 29 April 2026 Gothenburg 25 April 2025 Per Avander Managing Director and CEO Additional disclosures 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 25 April 2025, at 08:00 CEST. ADDITIONAL DISCLOSURES 27 (28) BILIA AB | INTERIM REPORT 1 JANUARY–31 MARCH 2025 THE MANAGING DIRECTOR’S COMMENTS | GROUP RESULTS | NOTABLE EVENTS | SERVICE BUSINESS | CAR BUSINESS | FUEL BUSINESS | SUSTAINABILITY | OTHER INFORMATION ACCOUNTS GROUP | ADDITIONAL DISCLOSURES GROUP | ACCOUNTS PARENT COMPANY | QUARTERL Y REVIEW | DEFINITIONS AND PERFORMANCE MEASURES | ADDITIONAL DISCLOSURES ===== SIDA 28 ===== 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 the car owner 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 170 facilities in Sweden, Norway, Luxembourg and Belgium plus one online 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, Toyota, Mercedes-Benz, XPENG, Volkswagen, MINI, Nissan, Lexus, Porsche, Skoda, Audi, Seat, Cupra, Land Rover, Jaguar, Polestar as well as transport vehicles from Mercedes-Benz, Toyota, Volkswagen, Nissan and trucks from Mercedes-Benz. Bilia’s Fuel Business comprises fuel sales and car washes in Sweden. 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