Kvartalsrapport Q3 2024

Automatiskt nyckeltalsindex

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===== SIDA 1 =====

Third quarter 2024
Increased result for the Service Business and a strong cash flow
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Net turnover 8,984 8,708 28,923 28,406 39,031 38,514
Operational earnings  1) 281 335 1,024 1,209 1,438 1,623
Operational margin, % 3.1 3.8 3.5 4.3 3.7 4.2
Operating profit 216 288 846 1,062 1,200 1,416
Operating margin, % 2.4 3.3 2.9 3.7 3.1 3.7
Profit before tax 133 216 596 866 889 1,159
Net profit for the period 105 169 467 682 717 931
Earnings per share, SEK 2) 1.15 1.83 5.08 7.41 7.80 10.12
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.
Third quarter 2024
• Net turnover amounted to SEK 8,984 M (8,708),  
an increase of 3 per cent. 
• Operational earnings amounted to SEK 281 M (335). 
• The lower operational earnings for the quarter 
were attributable to sales of new cars that 
reported a lower result of SEK 75 M compared to 
previous year while the Service Business reported 
a higher result of SEK 16 M.
• Operating profit amounted to SEK 216 M (288). 
• Net profit for the period amounted to SEK 105 M 
(169). Earnings per share amounted to SEK 1.15 
(1.83).
• Operating cash flow amounted to SEK 480 M (269).
Nine months 2024
• Net turnover amounted to SEK 28,923 M (28,406),  
an increase of 2 per cent. 
• Operational earnings amounted to SEK 1,024 M 
(1,209). 
• The lower operational earnings for the first nine 
months were attributable to sales of new cars that 
reported a lower result of SEK 177 M compared to 
previous year.
• Operating profit amounted to SEK 846 M (1,062). 
• Net profit for the period amounted to SEK 467 M 
(682). Earnings per share amounted to SEK 5.08 
( 7. 41) .
• Operating cash flow amounted to SEK 1,303 M 
(480).
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  1 (31)

===== SIDA 2 =====

THE MANAGING DIRECTOR’S COMMENTS
Stronger results in the Service Business,  
and continued focus on profitability
Third quarter 
Operational earnings for the quarter amounted to  
SEK 281 M, with a margin of 3.1 per cent. Results for the 
Service Business were stable at SEK 221 M, which was 
SEK 16 M higher than the previous year. The Car Business 
reported a result of SEK 73 M, with a profit of SEK 96 M 
for used cars and a loss of SEK 23 million for new cars. 
Order intake was at a higher level than the previous year. 
Operating cash flow remained strong at SEK 480 M for 
the quarter. 
An automotive industry in constant flux 
Recent years have been characterised by change, with 
digitalisation and electrification driving new business 
models. Our general agents are now combining classic 
business models with new ones to meet customer de-
mands for a secure, convenient experience when buying 
a new car. Regardless of the business model, we feel that 
the demand for quality service and advice is crucial to 
achieving good customer satisfaction. 
Electrification of the car fleet is ongoing. In Norway, 
the share of registered electric cars remained high, 
reaching 88 per cent for the first nine months of the 
year. In Sweden, conversely, the share of registered 
electric cars decreased on the previous year and was 
34 per cent. Instead, demand for hybrid cars and fossil 
fuel cars has increased. In Western Europe, the share of 
registered electric cars was 26 per cent. Thanks to our 
diversified portfolio of car brands, we can offer our cus-
tomers vehicles based on their wants and needs.
Focus on profitability  
Our focus is on increasing profitability in our existing 
business areas. Our goal is to continuously optimise our 
processes, and ensure high customer satisfaction and 
increased shareholder value. Our Business Excellence 
team assists Bilia’s Service Business with improvement 
measures to work more efficiently and thereby increase 
profitability. 
     We are continuously expanding our operations, both 
organically and through acquisitions. With a continued 
focus on our customers and their needs, we aim to con-
tinue growing our Service Business. Therefore, during the 
quarter we entered into an agreement to acquire Lunds 
Bil i Varberg AB, a small full-service business for BMW. 
We look forward to further developing the company and 
strengthening our position in this area. Since the end 
of the quarter, we have also completed the acquisition 
of Carlo Schmitz S.à r.l in Luxembourg, which is also a 
full-service business for BMW. Moving forward, we will 
have two facilities in Luxembourg and we see good op-
portunities to develop them.  
Improved prospects for our customers
Results for the Service Business remain stable and rep-
resented 74 per cent of Bilia’s operational earnings in the 
third quarter. Booking times at our service workshops are 
at strong levels, which means stable demand for servic-
ing. Demand for used cars remained strong. The order 
intake of new cars was higher than in the previous year. 
Among private individuals, especially in Norway, we are 
seeing an improvement in activity. With increasing new 
car promotional activity among our car brands and lower 
interest rates, we are cautiously optimistic about new car 
sales in the fourth quarter of 2024.
Per Avander
Managing Director and CEO
“The order intake continued at a  
higher level compared to the 
previous year”
Q3 20
Q3 21
Q3 22
Q3 23
Q3 24
402
482
334
335
281
Operational earnings
third quarter, SEK M
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  2 (31)

===== SIDA 3 =====

Group results
Net turnover and earnings
Third quarter 2024
Net turnover amounted to SEK 8,984 M (8,708). Ad-
justed for acquired and closed operations and exchange 
rate fluctuations, net turnover increased by 1 per cent, 
attributable to more used cars delivered and growth in 
the Service Business. Exchange rate fluctuations did not 
have a material impact on net turnover compared to the 
previous year. 
Operational earnings amounted to SEK 281 M (335), 
and the operational margin was 3.1 per cent (3.8). Nor-
way reported higher operational earnings, attributable 
to the Car Business. Western Europe and Sweden report-
ed lower results, attributable to the Car Business. 
The Service Business reported a higher result of 
SEK 221 M, compared to SEK 205 M in the previous year. 
The Car Business reported a lower result of SEK 73 M, 
compared to SEK 151 M the previous year. The Fuel Busi-
ness reported a result of SEK 3 M. 
The operation in Sweden reported a result of SEK 
206 M (284). The margin was 3.6 per cent (5.0). The op-
eration in Norway reported a result of SEK 41 M (23). The 
margin was 1.8 per cent (1.1). The operation in Western 
Europe reported a result of SEK 50 M (55). The margin 
was 5.1 per cent (5.2). In Sweden, the lower result was 
attributable to sales of new cars in the Car Business. In 
Norway, the higher result was attributable to sales of 
used cars in the Car Business. In Western Europe, the 
slightly lower result was attributable to sales of new cars 
in the Car Business. 
Operating profit amounted to SEK 216 M (288). Oper-
ating profit included result from interests in joint ventures 
of SEK -16 M, which for the quarter included start-up 
costs for operations.
Net financial items amounted to SEK –83 M (–71), the 
change being explained by higher interest expenses. 
Tax amounted to SEK –28 M (–48), and the effective 
tax rate was 21 per cent (22). 
Net profit for the period amounted to SEK 105 M (169). 
Earnings per share amounted to SEK 1.15 (1.83).  
Exchange rate fluctuations did not have a material im-
pact on net profit for the period compared to the previ-
ous year.
The number of employees increased by two during the 
quarter and totalled 5,427 . 
The operating result for the Parent Company during 
the quarter amounted to SEK –23 M (–39). The result was 
positively affected, compared with the previous year, by 
approximately SEK 10 M due to the revaluation of endow-
ment insurance for pensions.
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Net turnover SEK M
Net turnover
Net turnover SEK M, R/one.tf/two.tf
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Operational earnings SEK M
Operational earnings and margin
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THE GROUP
Bilia's financial targets
• Total yearly growth higher than 5 per cent 
during a business cycle.
• Operating margin of 5 per cent during a 
business cycle.
• Net debt in relation to EBITDA, excluding IFRS 
16, over time max 2.0 times.
• Dividend share of at least 50 per cent of 
earnings per share.
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  3 (31)

===== SIDA 4 =====

Nine months 2024
Net turnover amounted to SEK 28,923 M (28,406). Adjust-
ed for acquired and closed operations and for exchange 
rate fluctuations, net turnover decreased by 1 per cent, 
mainly due to fewer new cars delivered.  
Exchange rate fluctuations did not have a material im-
pact on net turnover compared to the previous year. 
 Operational earnings amounted to SEK 1,024 M 
(1,209), and the operational margin was 3.5 per cent 
(4.3). Norway and Western Europe reported higher oper-
ational earnings, while Sweden reported a lower result 
compared to the previous year. 
The Service Business reported a higher result of SEK 
794 M, compared to SEK 777 M in the previous year. The 
Car Business reported a lower result of SEK 304 M, com-
pared to SEK 508 M the previous year. The lower result 
was mainly attributable to sales of new cars. The Fuel 
Business reported a result of SEK 24 M compared to SEK 
18 M in the previous year.
The operation in Sweden reported a result of SEK 
792 M (1,002). The margin was 4.1 per cent (5.5). The 
operation in Norway reported a result of SEK 160 M 
(139). The margin was 2.4 per cent (1.9). The operation in 
Western Europe reported a result of SEK 170 M (162). The 
margin was 5.4 per cent (5.3). In Sweden, the lower result 
was attributable to the Car Business. In Norway, the 
higher result was attributable to sales of used cars in the 
Car Business. In Western Europe, the higher result was 
attributable to the Service Business.
Operating profit amounted to SEK 846 M (1,062). 
Operating profit included result from interests in joint 
ventures of SEK -35 M, which included start-up costs for 
operations.
Net financial items amounted to SEK –250 M (–197), 
the change being explained by higher interest expenses. 
Tax amounted to SEK –129 M (–185), and the effective 
tax rate was 22 per cent (21). 
Net profit for the period amounted to SEK 467 M (682). 
Earnings per share amounted to SEK 5.08 (7 .41). Ex-
change rate fluctuations did not have a material impact 
on net profit for the period compared to the previous 
year.
The number of employees increased by 242 during 
the year and amounted to 5,427 . Adjusted for acquired 
operations, the number of employees increased by 44. 
The operating result for the Parent Company in the 
first nine months amounted to SEK –105 M (–110). 
THE GROUP
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.
Tyre centres
Tyre hotels, wheel change, 
tyre and wheel sales and 
workshop services.
Rim repair
Renovation of rims.
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. 
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.
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
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.
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  4 (31)

===== SIDA 5 =====

Net turnover by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Sweden 5,702 5,649 19,194 18,100 25,747 24,653
Norway 2,263 2,005 6,562 7,224 9,101 9,763
Western Europe 986 1,047 3,113 3,059 4,123 4,069
Parent Company, other 32 7 54 23 60 29
Total 8,984 8,708 28,923 28,406 39,031 38,514
Operational earnings by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Sweden 206 284 792 1,002 1,156 1,365
Norway 41 23 160 139 198 177
Western Europe 50 55 170 162 235 228
Parent Company, other –17 –27 –98 –94 –151 –147
Total 281 335 1,024 1,209 1,438 1,623
Operational margin by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023Per cent 2024 2023 2024 2023
Sweden 3.6 5.0 4.1 5.5 4.5 5.5
Norway 1.8 1.1 2.4 1.9 2.2 1.8
Western Europe 5.1 5.2 5.4 5.3 5.7 5.6
Total 3.1 3.8 3.5 4.3 3.7 4.2
THE GROUP
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.
Q3 20
Q3 21
Q3 22
Q3 23
Q3 24
268
300
240
284
206
Operational earnings  third quarter, SEK M
Sweden Norway Western Europe
Q3 20
Q3 21
Q3 22
Q3 23
Q3 24
123
171
76
23
41Norway
Q3 20
Q3 21
Q3 22
Q3 23
Q3 24
24
20
29
55
50
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  5 (31)

===== SIDA 6 =====

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Operating cash flow SEK M, R/one.tf/two.tf
Operating cash flow
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Operating cash flow 
Operating cash flow for the third quarter amounted to 
SEK 480 M (269). After acquisitions of operations and 
changes in financial assets, cash flow for the quarter 
amounted to SEK 447 M (279). 
Financial position
The balance sheet total increased by SEK 553 M during 
the year and amounted to SEK 19,948 M. The increase 
was mainly attributable to right-of-use assets according 
to IFRS 16 in acquired operations and new facilities.
Equity decreased by SEK 185 M during the period, 
amounting to SEK 4,656 M. During the second quarter, a 
dividend of SEK 607 M was decided to the shareholders, 
of which SEK 304 M has been paid out during the year. 
In total, dividend of SEK 506 M has been paid out during 
the year. Bilia shares in own custody were used during 
the second quarter to allocate 33,059 shares to partic-
ipants in Bilia’s share savings program from 2021. The 
total holding of own shares as of 30 September 2024 was 
4,282,650 shares. 
The equity/assets ratio amounted to 23 per cent (24). 
Net debt increased by SEK 815 M during the year and 
amounted to SEK 7 ,504 M. Excluding lease liabilities at-
tributable to IFRS 16, net debt amounted to SEK 2,520 M, 
an increase of SEK 77 M since December 2023. The ratio 
of net debt to EBITDA, excluding IFRS 16, amounted to 
1.5 times compared with 1.3 times at the end of 2023.
At the end of the quarter, SEK 1,289 M of Bilia’s credit 
with the banks (Nordea and DNB) was utilised. The credit 
limit with Nordea and DNB totals SEK 2,300 M and was 
refinanced during the first quarter of 2024 on essentially 
unchanged terms. The revolving credits have a term of 3 
years with possibility of extension with one year plus one 
year after creditors’ approval. 
Investments excluding  right-of-use assets
Acquisitions of non-current assets during the quarter 
amounted to SEK 120 M (155) excluding lease vehi-
cles and SEK 316 M (434) including lease vehicles. By 
geographical market, the investments amounted to 
SEK 191  M (111) in Sweden, SEK 97 M (273) in Norway, 
SEK 14 M (6) in Western Europe and SEK 15 M (44) for the 
Parent Company and other central operations.
Q/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.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/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.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./zero.tf
/two.tf./zero.tf
/four.tf./zero.tf
/six.tf./zero.tf
/eight.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
THE GROUP
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  6 (31)

===== SIDA 7 =====

Events during the third quarter
• On 27 August Bilia signed an agreement to acquire 
Lunds Bil i Varberg AB. The operation consists of one 
full-service facility with sales and service of BMW cars. 
The acquisition is expected to be effectuated  during the 
first quarter of 2025. The CEO and owner of the business 
will continue to work in the company. During the business 
year 2023/24, Lunds Bil i Varberg AB’s turnover amounted 
to approximately SEK 178 M, with an operating margin of 
4.5 percent. The number of employees was 16 people at 
the end of 2023. The purchase price on a debt and cash-
free basis amounts to approximately SEK 90 M and will 
consist of cash and 28,000 of Bilia shares. 
Events during the first six months
• On 23 February Bilia signed an agreement to acquire 
Bil AB Ove Olofsson and Olofsson Däckcenter AB in 
Stockholm. The company is a dealer of Volkswagen, 
Audi, Skoda, Seat and Cupra cars as well as Volkswagen 
transport vehicles with associated sales of used cars 
and service operations with associated tire operations. 
The acquisition was effectuated on 2 May 2024. During 
2023 the turnover amounted to approximately SEK 
1.3 Bn, with an operating margin of 3.2 per cent. The 
capital employed plus agreed surplus values amounts to 
approximately SEK 200 M. 
• On 27 March Bilia refinanced its current revolving loan 
and credit facility of SEK 2.3 Bn with final maturity 
during the first quarter of 2025. The new credit facility 
consists of SEK 1.7 Bn revolving loans and SEK 0.6 Bn 
overdraft. The revolving credits have a term of 3 years 
with possibility of extension with one year plus one year 
after creditors’ approval. 
Notable events
• On 2 April Bilia announced that as a result of growing 
interest in XPENG, additional facilities in Sweden and 
Norway are opened. The expansion is made in existing 
properties and with the existing cost structure.
• On 12 June Bilia announced that Bilia’s Board of 
Directors has reached an agreement with Managing 
Director and CEO Per Avander to extend the current 
employment agreement by two years, which means 
that Per will remain in his current role until March 2028.
• On 13 April 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 acquisition was effectuated on 
1 October 2024. During the business year 2022/2023, 
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 Bilia shares.
Events after the balance sheet date
• On 1 October the Board of Directors of Bilia decided, 
based on the authorization granted at the Annual General 
Meeting, to transfer 508,658 own shares in Bilia to RENT 
CASE (Luxembourg) S.à r.l,. at a price of 120.72 per share. 
The shares are being transferred as part of the purchase 
price for Bilia’s acquisition of Carlo Schmitz S.à r.l,.
THE GROUP
Further information about the above mentioned 
events along with other press information is 
 available at bilia.com.
We have a clear acquisition strategy together with a 
well-planned acquisition process. A successful acquisi -
tion strategy also enables us to identify risks and op-
portunities, and carry out and integrate acquisitions as 
efficiently as possible to create sustainable value for the 
company and its stakeholders. 
Growth through acquisitions
We want to continue to grow in Sweden, Norway, 
Luxembourg and Belgium, but other European coun-
tries may also be of interest. Our aim is also to grow the 
Service Business by making acquisitions in new areas of   
 operation.
LBs Lastbilar AB
Kokstad 
 
Autosenter ASBil1Din Holding AS
AS Insignia
M Bilar Group AB
Carlo Schmitz S.à r.l
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
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  7 (31)

===== SIDA 8 =====

Stable results and good growth  
in the Service Business
Third quarter 2024
• Turnover amounted to SEK 2,136 M (1,933),  
an increase of 11 per cent. 
• Operational earnings amounted to SEK 221 M 
(205).
• The margin was 10.4 per cent (10.6).
Nine months 2024
• Turnover amounted to SEK 6,981 M (6,380),  
an increase of 9 per cent. 
• Operational earnings amounted to SEK 794 M 
(777).
• The margin was 11.4 per cent (12.2).
Turnover and earnings
Third quarter 2024
Demand for servicing remained good as our custom-
ers tend to take care of their cars even in tough economic 
times. 
Turnover for the Service Business increased organ-
ically by 6 per cent during the quarter. In Sweden and 
Western Europe, organic growth during the quarter was 
5 per cent and 6 per cent respectively, while in Norway 
organic growth was as much as 10 per cent. The organic 
growth is adjusted for acquired and closed operations, 
exchange rate fluctuations, and the number of working 
days compared to the previous year.
During the quarter, there was one more working day in 
Sweden, Norway and Luxembourg, and two more work-
ing days in Belgium.
Growth in the Service Business
Third quarter Nine months
Per cent Sweden Norway
Western 
Europe Tota l Sweden Norway
Western 
Europe Tota l
Reported growth 12.7 6.7 5.2 10.5 10.4 6.9 8.8 9.4
Underlying growth 6.5 11.4 8.2 7.9 6.8 9.2 9.4 7.6
Calendar effect –1.5 –1.5 –2.4 –1.6 — — –0.3 0.0
Organic growth 5.0 9.9 5.8 6.3 6.8 9.2 9.1 7.5
SERVICE BUSINESS
Operational earnings amounted to SEK 221 M (205). 
In Sweden, operational earnings amounted to SEK 182 
M (170). In Norway, operational earnings amounted to 
SEK 20 M (23). In Western Europe, operational earnings 
amounted to SEK 19 M (12). The margin in Sweden was 
again charged by start-up and implementation costs for 
workshop concepts and new operations. The result in 
Norway was charged by establishment and start-up costs 
for a new car brand. 
The booking situation for our workshops during the 
quarter was on a good level for the countries where we 
operate.
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  8 (31)

===== SIDA 9 =====

SERVICE BUSINESS
Turnover by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Sweden 1,438 1,276 4,775 4,324 6,496 6,045
Norway 541 507 1,718 1,607 2,293 2,182
Western Europe 157 150 489 449 677 638
Total 2,136 1,933 6,981 6,380 9,466 8,865
Operational earnings by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Sweden 182 170 619 616 880 876
Norway 20 23 109 108 139 138
Western Europe 19 12 66 53 95 83
Total 221 205 794 777 1,115 1,097
Margin by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023Per cent 2024 2023 2024 2023
Sweden 12.7 13.2 13.0 14.2 13.6 14.5
Norway 3.7 4.6 6.4 6.7 6.1 6.3
Western Europe 12.1 8.3 13.4 11.8 14.0 13.0
Total 10.4 10.6 11.4 12.2 11.8 12.4
Q/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.tf
Turnover SEK M
Turnover
Turnover SEK M, 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
/five.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
/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/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.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
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  9 (31)

===== SIDA 10 =====

Service Business  development since 2013 – Nine months
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net turnover, SEK M 2,919 2,858 3,137 3,755 4,303 4,663 5,024 4,976 5,555 5,801 6,380 6,981
Operational earnings, SEK M 212 247 309 389 469 515 630 781 902 793 777 794
Operational margin, % 7.3 8.6 9.8 10.3 10.9 11.0 12.5 15.7 16.2 13.7 12.2 11.4
Turnover Service Business, %
Service och repair, 60 
Damage centres incl. paint shop, 20
Tyres, wheels and glass, 15
Car dismantling, 5
Our target is to grow the turnover and profitability of our 
Service Business. Since 2013 the turnover for the nine 
months has more than doubled, while the operational 
earnings has more than quadrupled. The margin has dur-
ing the same period increased from 7 .3 per cent to 11.4 
per cent. The lower margin compared to previous years 
is primarily explained by new operations, which includes 
both acquired operations and newly started operations. 
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.
SERVICE BUSINESS
At the end of the quarter, the number of service subscrip-
tions amounted to 118,000 (119,000 at year-end 2023) 
compared with our long-term target of 130,000. The num-
ber of wheels stored on behalf of our customers amounted 
to 374,000 (391,000 at year-end 2023) compared with 
our long-term target of 1,000,000.
Service subscriptions Wheels in storage
We work continuously to improve the profitability of our 
Service Business. Our Business Excellence team together 
with our team within the Service Business identify the 
most effective processes and then implements these at 
the facilities where there is improvement potential as well 
as at our newly started and newly acquired businesses.
–/five.tf
/zero.tf
/five.tf
/one.tf/zero.tf
/one.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
Q/one.tf
/two.tf/two.tf
Organic growth in the Service Business since 2022 
per quarter, %
/two.tf/zero.tf/two.tf/four.tf
Q/three.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/four.tf
Q/three.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/zero.tf/zero.tf /zero.tf/zero.tf/zero.tf
/two.tf/zero.tf/zero.tf /zero.tf/zero.tf/zero.tf
/three.tf/zero.tf/zero.tf /zero.tf/zero.tf/zero.tf
/four.tf/zero.tf/zero.tf /zero.tf/zero.tf/zero.tf
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  10 (31)

===== SIDA 11 =====

Stable result for used cars in the Car Business
Third quarter 2024
• Turnover amounted to SEK 7 ,067 M (6,920),   
an    increase of 2 per cent. 
• Operational earnings amounted to SEK 73 M (151). 
• The margin was 1.0 per cent (2.2).
Nine months 2024
• Turnover amounted to SEK 22,799 M (22,665),   
which was on par with the previous year. 
• Operational earnings amounted to SEK 304 M 
(508). 
• The margin was 1.3 per cent (2.2).
New cars by geographic market
Deliveries Order backlog
Third quarter Nine months
Number of 2024 2023 2024 2023
Oct. 23– 
Sept. 24
Full year 
2023
30 Sept. 
2024
30 Sept. 
2023
Sweden 1) 5,981 6,608 20,226 22,164 28,321 30,259 7,445 12,201
Norway 2) 2,051 1,571 5,472 6,235 7,376 8,139 2,607 2,409
Western Europe 1,273 1,368 4,070 4,474 5,432 5,836 2,392 3,248
Total 9,305 9,547 29,768 32,873 41,129 44,234 12,444 17,858
1)  Acquired and new operations are included in deliveries during the quarter with 490, during the first nine months with 1,098 and 
with 585 in order backlog. Closed operations are included in deliveries previous year during the quarter with 674, during the first 
nine months with 2,312 and with 126 in order backlog. 
2)  Acquired and new operations are included in deliveries during the quarter with 267 , during the first nine months with 592 and with 
347 in order backlog.
Turnover and earnings
Third quarter 2024
The Car Business’s deliveries of new cars, adjusted for ac-
quired and closed operations, were 4 per cent lower during 
the quarter compared with the previous year. The lower 
level of deliveries of new cars was mainly attributable to 
Sweden. The Car Business’s deliveries of used cars, adjusted 
for acquired operations, were 15 per cent higher during the 
quarter compared with the previous year. The higher level 
of deliveries of used cars was attributable to Sweden. 
The order intake of new cars for the Group was 11 per 
cent lower than the previous year adjusted for acquired 
and closed operations, attributable to Norway and West-
ern Europe, while orders in Sweden were down slightly on 
the previous year. 
The order backlog amounted to 12,444 cars, which 
was lower compared to the previous year and the begin-
ning of this year, but historically a normalised level for 
Norway and Western Europe, and a somewhat low level 
for Sweden. 
CAR BUSINESS
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  11 (31)

===== SIDA 12 =====

CAR BUSINESS
Adjusted for acquired and closed operations and 
exchange rate fluctuations, turnover during the quarter 
was 1 per cent lower than the previous year, attributable 
to sales of new cars.
Operational earnings  from sales of used cars re-
mained at a good, stable level and amounted to SEK 
96 M (99). Operational earnings from sales of new cars 
amounted to SEK 23 M (52). The lower result from sales of 
new cars was attributable to all countries, explained by 
lower turnover and higher relative costs compared with 
the previous year. 
Operational earnings for the Car Business in Sweden 
amounted to SEK 21 M (109). Results from sales of used 
cars remained good, with a profit of SEK 54 M (90). The 
lower result was mainly attributable to a lower gross prof-
it margin. The result from sales of new cars amounted 
to SEK –33 M (19). The lower result was primarily attrib-
utable to a lower turnover and higher relative costs. The 
Deliveries of used cars by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023Number of 2024 2023 2024 2023
Sweden 1) 9,116 7,144 27,611 22,946 34,904 30,239
Norway 3,209 3,103 9,478 9,745 12,486 12,753
Western Europe 671 679 1,906 2,264 2,456 2,814
Total 12,996 10,926 38,995 34,955 49,846 45,806
1)  Acquired operations are included in deliveries during the quarter with 98 and during the first nine months with 355.
number of used cars in stock was deemed to be at a good 
level at the end of the quarter. 
Operational earnings for the Car Business in Norway 
amounted to SEK 21 M (0). The result from sales of used 
cars amounted to SEK 40 M (6). The higher result was 
attributable to a higher turnover and gross profit margin. 
The result from sales of new cars amounted to SEK –19 M 
(–7).  The lower result was attributable to a lower gross 
profit margin and higher relative costs. The number of 
used cars in stock was deemed to be at a good level at 
the end of the quarter. 
Operational earnings for the Car Business in  
Western Europe amounted to SEK 31 M (42). The result 
from sales of used cars amounted to SEK 2 M (3). The 
result from sales of new cars amounted to SEK 29 M (39). 
The lower result was attributable to a lower turnover and 
gross profit margin.
Q/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.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/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.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
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  12 (31)

===== SIDA 13 =====

CAR BUSINESS
Turnover by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Sweden 4,341 4,381 14,826 13,920 19,845 18,941
Norway 1,872 1,624 5,289 6,077 7,387 8,175
Western Europe 853 915 2,683 2,668 3,531 3,516
Total 7,067 6,920 22,799 22,665 30,764 30,632
Operational earnings by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Sweden 21 109 150 368 250 468
Norway 21 0 50 31 59 39
Western Europe 31 42 104 109 140 145
Total 73 151 304 508 449 652
Margin by geographic market
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023Per cent 2024 2023 2024 2023
Sweden 0.5 2.5 1.0 2.6 1.3 2.5
Norway 1.1 0.0 1.0 0.5 0.8 0.5
Western Europe 3.7 4.6 3.9 4.1 4.0 4.1
Total 1.0 2.2 1.3 2.2 1.5 2.1
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  13 (31)

===== SIDA 14 =====

/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
Q/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.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
/one.tf,/seven.tf/five.tf/zero.tf
/zero.tf
/five.tf
/one.tf/zero.tf
/one.tf/five.tf
Q/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.tfQ/one.tf /two.tf/three.tfQ/four.tf /two.tf/two.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
Lower fuel prices reduce turnover
Third quarter 2024
• Turnover amounted to SEK 220 M (288),  
a decrease of 24 per cent. 
• Operational earnings amounted to SEK 3 M (6).
• The margin was 1.5 per cent (2.2).
Nine months 2024
• Turnover amounted to SEK 687 M (852),  
a decrease of 19 per cent. 
• Operational earnings amounted to SEK 24 M (18).
• The margin was 3.4 per cent (2.2).
Turnover and earnings
Third quarter 2024
The Fuel Business encompasses fuel stations and car 
washes and is concentrated to Sweden. The result for the 
quarter amounted to SEK 3 M (6). 
Fuel Business
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
20232024 2023 2024 2023
Turnover, SEK M 220 288 687 852 964 1,129
Operational earnings, SEK M 3 6 24 18 26 21
Margin, per cent 1.5 2.2 3.4 2.2 2.7 1.9
FUEL BUSINESS
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  14 (31)

===== SIDA 15 =====

THE GROUP
The automotive and transport industry is facing major 
challenges. It’s about the transition to vehicles that run on 
sustainable fuels, but also taking greater overall respon-
sibility along the entire value chain, and finding new 
ways to reduce the use of resources. These challenges 
are regulated by international laws and objectives but 
are also expected and demanded by business partners 
and customers. We all have a responsibility. When selling 
new cars, Bilia supports companies and individuals in the 
transition to vehicles with lower carbon dioxide emissions, 
while our workshops and dismantling centres contribute 
to a more circular economy through repair and reuse. 
Sustainability at Bilia 
We are working to make sustainability an increasingly 
integral part of Bilia’s operation. Our business concept is 
to create a sustainable business through consideration 
and pride by offering attractive and innovative solutions 
for the mobile human being. We do this both to provide 
added value to our customers and because we see 
sustainability as an important part of our business. Our 
business concept enables us to grow while contributing 
to the major societal changes happening in the world. 
Our circular business model
Bilia is a full-service supplier during the car’s entire life 
cycle. The focus is on developing new services relating to 
reuse and renovation of spare parts. As part of this strate-
gy, we have acquired car dismantling companies and 
rim repair companies. In addition to car dismantling and 
reuse of spare parts, dismantled parts are also recycled.
Activities during the quarter related to Bilia's 
sustainability targets
The sustainability targets are the basis for specific im-
provement activities in this year's action plan. Examples 
of activities during the quarter were:
•  Sustainable growth – ongoing work regarding the 
future Sustainability Report regarding CSRD’s reporting 
requirements. 
•  Circular economy – preparation of information regard-
ing the use of used spare parts in our repair shops. 
•  Human care – completed training regarding safety 
when handling electric cars and evaluated a new sys-
tem for reporting accidents and incidents in the Swedish 
operations.
•  Climate care – implementation of activities in the busi-
ness regarding reduced environmental impact of our 
own business. 
Sustainability
Nine key SDGs in the 2030 Agenda
The focus areas for our sustainability work:  Human care, 
Climate care, Sustainable growth and Circular economy 
model. The focus areas are linked to the following of the 
UN's global Sustainable Development Goals in the 2030 
Agenda.
Sustainable growth
• Customer satisfaction to be 3 percentage 
points higher than the average for each brand 
and country.
• Proportion of women in sales operations 
should exceed 30 per cent.
Circular economy
• Share of 12 per cent used spare parts for 
damage cases in Sweden in 2028.
Human care
• Proportion of engaged employees above 
benchmark.
Climate care
• Contribute to lower climate impact for Bilia’s 
customers through our products and services.
• Reduced environmental impact caused by our 
own operations.
Global  
SDGs 
Bilia 
 Focus areas
Human care 
 
Human care 
Climate care
Sustainable 
growth
Climate care
Global  
SDGs 
Bilia 
 Focus areas
Climate care
Circular 
 economy
Sustainable 
growth
All four areas 
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  15 (31)

===== SIDA 16 =====

THE GROUP
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. 
The events that have transpired in the wider world since 
publication of the annual report are not judged to entail any 
new material risks or changes in working methods com-
pared with the description in the Annual Report for 2023. 
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 
101, “Note 30” of the 2023 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 2024
The Annual General Meeting was held on 24 April 2024. The 
Board decided on a dividend of SEK 6.60 (8.80) per share, 
to be paid in four instalments of SEK 1.65 per share. The 
dividend is in line with historical levels of dividend share 
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 
exceeds the customer’s ex-
pectations, and adds value 
that distinguishes Bilia from 
its competitors.
Dedication, Competence,
Genuine, Respect.
At Bilia we are engaged in the meeting 
with customers, with each other and 
with suppliers. Competence gives 
solutions and suggestions that benefit 
the customer the most. Being genuine 
and showing respect build confidence 
in Bilia and our employees.
The best service company in the 
business – through considera-
tion for customers, colleagues 
and the world we live in.
Bilia will create a sustainable 
business through consideration 
and pride by offering attractive 
and innovative solutions for the 
mobile human being. 
  OUR CAR BRANDS
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  16 (31)

===== SIDA 17 =====

Consolidated Statement of Income and Other Comprehensive Income
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Net turnover 8,984 8,708 28,923 28,406 39,031 38,514
Costs of goods sold –7,555 –7,342 –24,287 –23,914 –32,748 –32,374
Gross profit 1,429 1,366 4,635 4,492 6,283 6,140
Other operating income 8 3 23 35 34 46
Selling and administrative expenses -1,200 –1,080 –3,765 –3,452 –5,037 –4,724
Other operating expense –4 –1 –13 –13 –46 –45
Result from interests in joint ventures –16 — –35 — –35 —
Operating profit 1) 216 288 846 1,062 1,200 1,416
Financial income 4 10 10 13 13 15
Financial expenses –110 –103 –321 –272 –410 –360
Result from interests in associated companies 23 22 61 62 86 88
Profit before tax 133 216 596 866 889 1,159
Tax –28 –48 –129 –185 –172 –228
Net profit for the period 105 169 467 682 717 931
Other comprehensive income
Items that can be reclassified to profit or loss
Translation differences attributable to foreign 
operations –52 –6 –20 –24 –89 –93
Change in fair value of cash flow hedges,  
net after tax –3 –18 –11 –58 2 –45
Share of OCI related to joint ventures 0 — 0 — 0 —
Other comprehensive income after tax –54 –24 –31 –82 –87 –138
Comprehensive income for the period 51 145 437 600 630 793
Net profit attributable to:
- Parent Company's shareholders 105 169 468 682 718 931
- Non-controlling interests 0 0 –1 0 –1 0
Comprehensive income attributable to:
- Parent Company's  shareholders 51 145 437 600 630 793
- Non-controlling interests 0 0 –1 0 –1 0
Basic earnings per share, SEK 1.15 1.83 5.08 7.41 7.80 10.12
Diluted earnings per share, SEK 1.14 1.83 5.07 7.40 7.78 10.10
Average number of shares, '000 92,017 91,984 92,004 91,984 91,999 91,984
Average number of shares, after  dilution, '000 92,401 92,260 92,290 92,176 92,273 92,188
1) Amortisation and depreciation according to plan by asset class:
– Intellectual property –54 –53 –161 –156 –213 –209
– Land and buildings –25 –26 –71 –67 –88 –84
– Equipment, tools, fixtures and fittings –40 –29 –119 –104 –160 –145
–  Leased vehicles –81 –81 –298 –294 –384 –380
– Right-of-use assets –163 –149 –465 –444 –606 –585
Total –363 –337 –1,114 –1,066 –1,453 –1,404
ACCOUNTS – GROUP
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  17 (31)

===== SIDA 18 =====

Consolidated Statement of Financial Position, Summary
SEK M
30 September 
2024
31 December 
2023
30 September 
2023
Assets
Non-current assets
Intangible assets
Intellectual property 910 972 1,017
Goodwill 1,521 1,496 1,519
2,431 2,468 2,536
Property, plant and equipment
Leased vehicles 2,309 2,515 2,536
Right-of-use assets 4,696 3,960 4,018
Other tangible assets 2,136 1,968 1,868
9,141 8,443 8,422
Financial assets  766 726 706
Deferred tax assets 38 150 178
Total non-current assets 12,376 11,788 11,842
Current assets
Inventories 4,582 4,789 4,968
Other receivables 2,362 2,554 2,236
Cash and cash equivalents 629 264 333
Total current assets 7,573 7,607 7,537
TOTAL ASSETS 19,948 19,395 19,380
Equity and liabilities
Equity 4,656 4,841 4,650
Non-current liabilities
Bond issue 1,296 1,295 1,294
Interest-bearing liabilities  1 378 24 37
Lease liabilities 4,440 3,791 3,681
Other liabilities and provisions 1,249 1,360 1,730
Deferred tax assets 537 670 669
8,900 7,139 7,411
Current liabilities
Bond issue — — 32
Interest-bearing liabilities 963 1,762 1,652
Lease liabilities 909 818 809
Other liabilities and provisions 4,520 4,835 4,826
6,392 7,415 7,319
TOTAL EQUITY AND LIABILITIES 19,948 19,395 19,380
Statement of Changes in Group Equity, Summary
SEK M
Nine months 
2024
Full year 
2023
Nine months 
2023
Opening balance 4,841 4,887 4,887
Decided dividend –607 –809 –809
Incentive 3 2 3
Revaluation of call/put option –18 –32 –31
Comprehensive income for the period 437 793 600
Equity at end of period 4,656 4,841 4,650
Equity attributable to:
- Parent Company's shareholders 4,656 4,841 4,650
- Non-controlling interests 0 0 0
ACCOUNTS – GROUP
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  18 (31)

===== SIDA 19 =====

Consolidated Statement of Cash Flows
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Operating activities
Profit before tax 133 216 596 866 889 1,159
Depreciation and impairment losses 366 337 1,120 1,066 1,461 1,407
Other items not affecting cash –23 –35 –88 –147 –120 –179
Tax paid –75 –68 –250 –364 –267 –380
Change in inventories 17 33 386 142 518 274
Change in operating receivables 21 153 347 467 49 169
Change in operating liabilities 26 –64 –437 –873 –423 –859
Cash flow from operating activities 465 573 1,673 1,157 2,107 1,591
Investing activities
Acquisition of non-current assets –120 –155 –343 –320 –543 –520
Disposal of non-current assets 0 16 8 41 9 41
Acquisition of leased vehicles –196 –279 –933 –920 –1,582 –1,569
Disposal of leased vehicles 331 114 898 522 1,460 1,084
Operating cash flow 480 269 1,303 480 1,450 627
Investment in financial assets –33 — –78 –2 –78 –2
Disposal of financial assets — 9 1 15 9 23
Acquisition of operations 0 1 –396 –7 –418 –29
Cash flow from investing activities –17 –293 –844 –672 –1,144 –972
Financing activities
Borrowings 1 16 1 840 2 840
Repayment of loans 0 –4 0 –779 –64 –842
Repayment of lease liabilities –168 –134 –522 ,–442 –618 –538
Net change in short-term credit facilities 95 45 547 356 713 521
Dividend paid to the company's shareholders –152 –202 –506 –589 –709 –791
Cash flow from financing activities –223 –280 –480 –614 –676 –810
Change in cash and cash equivalents,  
excl. translation differences 224 0 350 –128 287 –191
Exchange difference in cash and cash equivalents 15 –4 15 5 9 –1
Change in cash and cash equivalents 240 –4 364 –123 296 –192
Cash and cash equivalents at start of period 389 337 264 456 333 456
Cash and cash equivalents at end of period 629 333 629 333 629 264
ACCOUNTS – GROUP
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  19 (31)

===== SIDA 20 =====

Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Operational earnings 281 335 1,024 1,209 1,438 1,623
– Structural costs etc. 0 — 0 –7 –15 –21
– Acquisition-related costs and value adjustments 0 — 0 — 1 —
– Amortisation of surplus values –48 –47 –143 –140 –189 –186
– Result from interests in joint ventures –16 — –35 — –35 —
Operating profit 216 288 846 1,062 1,200 1,416
ADDITIONAL DISCLOSURES – GROUP
Note 1 Accounting principles
This interim report has been prepared in accordance 
with International Financial Reporting Standards (IFRS) 
IAS 34 and applicable 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 policies and calculation 
methods have been applied for the Group and the Parent 
Company as in the most recent Annual Report with 
addition for the reporting of interests in joint ventures. 
Joint ventures refer to companies in which Bilia’s holding 
corresponds to more than 50 per cent of the votes but 
has no significant influence. Holdings in joint ventures are 
reported according to the equity method.
New or revised IFRS standards to be used in the future are 
not expected to have any material effect on the consoli-
dated 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  Fair value of financial instruments
Valuation principles and classifications of Bilia's financial 
instruments as described in the annual report for 2023 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 purchas-
es 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 
derivatives 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 cur-
rency derivatives at fair value has resulted in a income of 
SEK 2 M, which was matched by an cost for the reval-
uation 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 acquisitions 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 finan-
cial position and amounted to SEK 56 M.
Note 3 Reconciliation of operational earnings with operating profit
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  20 (31)

===== SIDA 21 =====

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. 
Third quarter 2024
SEK M Service Car Fuel Tota l
Segment 
reconciliation Group
External sales 1,665 7,067 220 8,952 32 8,984
Internal sales 471 — — 471 –471 —
Depreciation and amortisation –153 –192 –1 –347 –16 –363
Operational earnings 221 73 3 298 –17 281
Structural costs etc. — 0 — 0 — 0
Acquisition-related costs and value adjustments 0 0 — 0 — 0
Amortisation of surplus values –25 –23 — –48 — –48
Result from interests in joint ventures — — — — –16 –16
Group operating profit 216
Service Car
SEK M Sweden Norway Western Europe Sweden Norway Western Europe
External sales 1,141 391 133 4,341 1,872 853
Internal sales 297 150 24 — — —
Depreciation and amortisation –104 –37 –13 –140 –42 –11
Operational earnings 182 20 19 21 21 31
Structural costs etc — — — 0 — —
Acquisition-related costs and value adjustments 0 — 0 0 — 0
Amortisation of surplus values –13 –5 –7 –13 –5 –6
Third quarter 2023
SEK M Service Car Fuel Tota l
Segment 
reconciliation Group
External sales 1,493 6,920 288 8,701 7 8,708
Internal sales 440 — — 440 –440 —
Depreciation and amortisation –134 –185 –1 –320 –17 –337
Operational earnings 205 151 6 362 –27 335
Structural costs etc. — — — — — —
Acquisition-related costs and value adjustments — — — — — —
Amortisation of surplus values –25 –22 — –47 — –47
Result from interests in joint ventures — — — — — —
Group operating profit 288
Service Car
SEK M Sweden Norway Western Europe Sweden Norway Western Europe
External sales 981 381 131 4,381 1,624 915
Internal sales 295 126 19 — — —
Depreciation and amortisation –90 –31 –13 –133 –41 –11
Operational earnings 170 23 12 109 0 42
Structural costs etc — — — — — —
Acquisition-related costs and value adjustments — — — — — —
Amortisation of surplus values –13 –5 –7 –11 –5 –6
ADDITIONAL DISCLOSURES – GROUP
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  21 (31)

===== SIDA 22 =====

Nine months 2024
SEK M Service Car Fuel Tota l
Segment 
reconciliation Group
External sales 5,383 22,799 687 28,869 54 28,923
Internal sales 1,598 — — 1,598 –1,598 —
Depreciation and amortisation –443 –620 –3 –1,067 –47 –1,114
Operational earnings 794 304 24 1,122 –98 1,024
Structural costs etc. 0 0 — 0 — 0
Acquisition-related costs and value adjustments 0 0 — 0 — 0
Amortisation of surplus values –73 –70 — –143 — –143
Result from interests in joint ventures — — — — –35 –35
Group operating profit 846
Service Car
SEK M Sweden Norway Western Europe Sweden Norway Western Europe
External sales 3,681 1,273 430 14,826 5,289 2,683
Internal sales 1,093 446 59 — — —
Depreciation and amortisation –301 –103 –38 –445 –142 –34
Operational earnings 619 109 66 150 50 104
Structural costs etc 0 — 0 0 — —
Acquisition-related costs and value adjustments –1 — 1 –1 — 1
Amortisation of surplus values –37 –16 –20 –39 –14 –17
Nine months 2023
SEK M Service Car Fuel Tota l
Segment 
reconciliation Group
External sales 4,866 22,665 852 28,383 23 28,406
Internal sales 1,514 — — 1,514 –1,514 —
Depreciation and amortisation –414 –595 –4 –1,013 –53 –1,066
Operational earnings 777 508 18 1,303 –94 1,209
Structural costs etc. –3 –2 — –5 –2 –7
Acquisition-related costs and value adjustments — — — — — —
Amortisation of surplus values –75 –65 — –140 — –140
Result from interests in joint ventures — — — — — —
Group operating profit 1,062
Service Car
SEK M Sweden Norway Western Europe Sweden Norway Western Europe
External sales 3,328 1,147 391 13,920 6,077 2,668
Internal sales 996 460 58 — — —
Depreciation and amortisation –269 –107 –38 –397 –164 –34
Operational earnings 616 108 53 368 31 109
Structural costs etc –2 — –1 –2 — —
Acquisition-related costs and value adjustments — — — — — —
Amortisation of surplus values –39 –16 –20 –33 –15 –17
ADDITIONAL DISCLOSURES – GROUP
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  22 (31)

===== SIDA 23 =====

ADDITIONAL DISCLOSURES – GROUP
Note 5 Acquisitions and divestments of operations
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 amount-
ed to approximately SEK 450 M with an operating margin 
of 1.1 per cent. The number of employees were 45 at the 
end of 2022. The acquisition was effectuated on 2 Janu-
ary 2024. The acquisition analysis is preliminary pending 
the final completion of the financial statements for the 
day of taking possession. 
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 facilities for XPENG in Sweden and two facilities for 
XPENG in Norway have been acquired in 2024. These 
have not entailed any significant 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 turnover amounted to ap-
proximately SEK 1.3 Bn, with an operating margin of 3.2 
per cent. The number of employees were 165 at the end 
of 2023. The capital employed plus agreed surplus values 
amounts to approximately SEK 200 M. The acquisition 
was effectuated on 2 May 2024. The acquisition analysis 
is preliminary pending the final completion of the finan-
cial statements for the day of taking possession.
Preliminary net assets in the acquired operations  2024
SEK M
Intangible assets, customer relations 81
Property, plant and equipment 82
Right-of-use assets 324
Inventories 195
Trade receivables and other receivables 74
Cash and cash equivalents 48
Interest-bearing liabilities –329
Trade payables and other liabilities -158
Deferred tax liability –20
Net identifiable assets and liabilities  297
Consolidated goodwill 28
Net identifiable assets and liabilities, including 
goodwill 325
Purchase consideration –325
Purchase consideration for exercised option –120
Less: Cash and cash equivalents in acquired 
 operations 48
Net effect on cash and cash equivalents –396
Acquisitions in 2023
On 1 November Bilia acquired the operations in Bilcenter-
gruppen Sörmland AB, which conducts sales and service 
operations for Mercedes-Benz cars and transport vehi-
cles. The acquired operations had a turnover of approx-
imately SEK 100 M in 2022. The number of employees 
was 24 at the end of 2022. Acquired customer relations 
of SEK 14 M are reported as intangible assets and are 
amortised over 10 years.
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  23 (31)

===== SIDA 24 =====

ADDITIONAL DISCLOSURES – GROUP
Note 6 Specification of interest-bearing net debt and EBITDA
Specification of interest-bearing net debt
SEK M
30 September 
2024
31 December 
2023
30 September 
2023
Current interest-bearing liabilities 1,111 1,934 1,846
Non-current interest-bearing liabilities 2,895 1,515 1,480
Lease liabilities IFRS 16 4,985 4,246 4,184
Cash and cash equivalents –629 –264 –333
Interest-bearing assets –147 –76 –86
Shares in associated companies –710 –665 –639
Net debt at end of the period 7, 5 0 4 6,689 6,454
Net debt at end of the period, excluding IFRS 16 2,520 2,443 2,269
The ratio of net debt to EBITDA
SEK M
Oct. 23– 
Sept. 24
Full year 
2023
Oct. 22– 
Sept. 23
Operating profit 1,200 1,416 1,573
Result from sale of operations, structural costs, acquisition costs and impairment losses 14 21 29
Total depreciation and amortisation 1,453 1,404 1,385
– depreciation of leased vehicles with repurchase agreements –284 –288 –289
EBITDA 2,383 2,552 2,697
Net debt to EBITDA ratio, times 3.1 2.6 2.4
Operating profit excluding IFRS 16 1,092 1,337 1,498
Result from sale of operations, structural costs, acquisition costs and impairment losses 14 21 29
Total depreciation and amortisation 1,453 1,404 1,385
– depreciation of leased vehicles with repurchase agreements –284 –288 –289
– depreciation of right-of-use assets –606 –585 –577
EBITDA excluding IFRS 16 1,668 1,888 2,046
Net debt to EBITDA ratio excluding IFRS 16, times 1.5 1.3 1.1
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  24 (31)

===== SIDA 25 =====

Income Statement for Parent Company, Summary
Third quarter Nine months Oct. 23– 
Sept. 24
Full year
2023SEK M 2024 2023 2024 2023
Net turnover 246 193 664 588 857 781
Other operating income 0 0 2 0 2 0
Administrative expenses –268 –231 –771 –698 –1,016 –943
Operating result 1) –23 –39 –105 –110 –157 –162
Result from financial items
Result from interest in Group companies 
and joint ventures 0 — –30 — –40 –10
Interest income and similar line items 35 35 111 95 148 131
Interest expenses and similar line items –55 -56 –162 –124 –207 –169
Result after financial items –42 –60 –186 –139 –256 –209
Appropriations — — — 2 978 980
Result before tax –42 –60 –186 –137 722 771
Tax –7 4 1 1 –160 –160
Net result for the period –50 –56 –185 –136 562 611
1) Amortisation and depreciation according to plan by asset class:
- Buildings  –6 –6 –19 –18 –26 –25
- Equipment, tools, fixtures and fittings –1 –1 –2 –2 –2 –2
Total –7 –7 –21 –20 –28 –27
ACCOUNTS – PARENT COMPANY
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  25 (31)

===== SIDA 26 =====

Balance Sheet for Parent Company, Summary
SEK M
30 September 
2024
31 December 
2023
30 September 
2023
Assets
Non-current assets
Property, plant and equipment 290 246 202
Shares in Group companies 3,531 3,140 3,139
Receivables from Group companies 447 447 —
Other tangible assets 69 76 70
Total non-current assets 4,336 3,908 3,411
Current assets
Receivables from Group companies 2,034 3,083 1,288
Other receivables 473 196 298
Cash and cash equivalents 296 1 11
Total current assets 2,803 3,280 1,597
TOTAL ASSETS 7,139 7,188 5,008
Equity and liabilities
Equity 427 1,216 470
Untaxed reserves 1,553 1,553 1,417
Provisions
Deferred tax liability — 9 10
— 9 10
Non-current liabilities
Bond issue 1,296 1,295 1,294
Interest bearing liabilities 1,350 — —
Liabilities to Group companies 447 447 —
Other liabilities 139 139 148
3,232 1,881 1,442
Current liabilities
Bond issue — — 32
Interest bearing liabilities 249 1,136 845
Liabilities to Group companies 940 816 144
Other liabilities 739 577 648
1,928 2,529 1,669
TOTAL EQUITY AND LIABILITIES 7,139 7,188 5,008
ACCOUNTS – PARENT COMPANY
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  26 (31)

===== SIDA 27 =====

QUARTERL Y REVIEW
The Group
Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024
Net turnover, SEK M 10,425 9,871 9,826 8,708 10,108 9,371 10,568 8,984
EBITDA, SEK M 788 670 677 562 643 573 646 521
EBITDA excl. IFRS 16, SEK M 638 503 510 395 480 401 460 327
Operational earnings, SEK M 574 431 444 335 414 333 410 281
Operational margin, % 5.5 4.4 4.5 3.8 4.1 3.6 3.9 3.1
Operating profit, SEK M 511 380 394 288 354 287 343 216
Operating margin, % 4.9 3.8 4.0 3.3 3.5 3.1 3.3 2.4
Profit before tax, SEK M 470 320 330 216 293 201 262 133
Profit/loss for the period, SEK M 358 251 262 169 250 156 206 105
The ratio of net debt to EBITDA excl. IFRS 16, times 1) 0.8 1.1 1.1 1.1 1.3 1.5 1.6 1.5
Return on capital employed, % 1) 21.5 17.4 15.7 14.3 12.5 11.4 10.8 10.0
Return on equity, % 1) 36.2 27.8 25.5 22.4 16.6 17.6 16.7 15.1
Equity/assets ratio, % 24 26 23 24 25 26 23 23
Earnings per share, SEK 3.89 2.73 2.85 1.83 2.71 1.70 2.24 1.15
Equity per share, SEK 53 55 49 51 53 54 50 51
Average number of shares, '000 91,984 91,984 91,984 91,984 91,984 91,984 92,009 92,017
Outstanding number of shares, '000 91,984 91,984 91,984 91,984 91,984 91,984 92,017 92,017
Holdings of own shares, '000 4,316 4,316 4,316 4,316 4,316 4,316 4,283 4,283
1) Rolling 12 months.
Business area – Service Business
Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024
Turnover, SEK M 2,291 2,257 2,190 1,933 2,485 2,363 2,482 2,136
Operational earnings, SEK M 368 297 275 205 320 281 292 221
Margin, % 16.1 13.2 12.5 10.6 12.9 11.9 11.7 10.4
Reported growth, % –1.7 9.8 7.7 12.9 8.5 4.7 13.4 10.5
Organic growth, % 10.2 10.0 10.2 10.5 9.4 8.1 8.3 6.3
Business area – Car Business
Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024
Turnover, SEK M 8,438 7,913 7,832 6,920 7,967 7,329 8,402 7,067
Operational earnings, SEK M 240 158 198 151 144 76 155 73
Margin, % 2.8 2.0 2.5 2.2 1.8 1.0 1.9 1.0
New cars delivered, number 13,611 11,671 11,655 9,547 11,361 9,322 11,141 9,305
Order backlog of new cars, number 26,325 23,536 19,847 17,858 14,262 14,460 12,652 12,444
Used cars delivered, number 10,133 12,300 11,729 10,926 10,851 12,155 13,844 12,996
Business area – Fuel Business
Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024
Turnover, SEK M 307 277 287 288 277 225 242 220
Operational earnings, SEK M 3 8 5 6 3 13 7 3
Margin, % 1.0 2.7 1.6 2.2 1.0 5.7 3.0 1.5
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  27 (31)

===== SIDA 28 =====

Definitions and performance measures
DEFINITIONS AND PERFORMANCE MEASURES
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 excluding the accounting standard IFRS 16 
Leases.
Gain 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 between accounting periods and/or operating 
segments. 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 are 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. Organic growth reported under Quar-
terly review for the Service Business relates to Sweden 
and Norway.
Return on capital employed
Operating profit plus interest expense included in the 
business and financial income in relation to average 
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/financial-information/
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  28 (31)

===== SIDA 29 =====

ADDITIONAL DISCLOSURES
Press and analyst meeting
On Wednesday 23 October 2024 Bilia arranges press 
and analyst meetings via Financial Hearings, where CEO 
Per Avander and CFO Kristina Franzén 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://ir.financialhearings.com/bilia-q3-2024
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.financialhearings.com/teleconfer -
ence/?id=50048589
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
Additional disclosures
Prospective information
Prospective information in this report is based on 
management’s expectations at the time 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 infor-
mation 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 oth-
er 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
Year-end Report  
October–December 2024: 5 February 2025
Interim Report January–March 2025: 25 April 2025
Annual General Meeting 2025 25 April 2025
Interim Report April–June 2025: 18 July 2025
Interim Report July–September 2025: 23 October 2025
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 23 October 2024, at 08:00 CEST.
Gothenburg 23 October 2024
Per Avander 
Managing Director and CEO
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  29 (31)

===== SIDA 30 =====

REVIEW REPORT
Auditor´s Review report
Bilia AB (publ) corp. id. 556112-5690
Introduction
We have reviewed the condensed interim financial information (interim report) of Bilia AB as of 30 September 2024 and 
the nine-month period then ended. The Board of Directors and the Managing Director are responsible for the prepara-
tion and presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is 
to express a conclusion on this interim report based on our review. 
Scope of review
We conducted our review in accordance with International Standard on Review Engagements ISRE 2410 Review of 
Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial informa-
tion consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying 
analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance 
with International Standards on Auditing and other generally accepted auditing practices and consequently does not 
enable us to obtain assurance that we would become aware of all significant matters that might be identified in an 
audit. Accordingly, we do not express an audit opinion. 
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, 
in all material respects, for the Group in accordance with IAS 34 and the Annual Accounts Act, and for the Parent 
 Company in accordance with the Annual Accounts Act. .
Gothenburg 23 October 2024
Öhrlings PricewaterhouseCoopers AB
Fredrik Göransson
Authorized Public Accountant
This document is a translation of the Swedish original. In the event of any discrepancies between this translation and 
the Swedish original, the latter shall prevail.
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  30 (31)

===== SIDA 31 =====

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, MINI, Toyota, 
 Lexus, Mercedes-Benz, Porsche, Volkswagen, Audi, Skoda, Seat, Cupra, Nissan, Jaguar, Land Rover, XPENG 
as well as transport vehicles from Toyota, Mercedes-Benz, 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
BILIA AB  |  INTERIM REPORT 1 JANUARY–30 SEPTEMBER 2024  31 (31)