Bilia (BILI) Q1 2025 earnings summary

Executive summary

• Net turnover for Q1 2025 was SEK 9,935 M, up 6% year-over-year, with operational earnings of SEK 344 M and a margin of 3.5%.

• Service Business drove higher earnings, contributing 81% of group profits and showing strong improvement in Norway and Western Europe.

• Car Business earnings declined, especially in Sweden, but order intake for new cars surged 31% year-over-year, increasing the backlog by 3,000 cars since Q4 2024.

• Operating cash flow improved to SEK 453 M in Q1 2025, reflecting strong liquidity.

• Despite challenges in new car sales in Sweden and Norway, overall results remained stable.

Financial highlights

• Adjusted net turnover grew organically by 1% year-over-year, with a SEK 60 M negative FX impact.

• Operational margin was 3.5% for Q1 2025; operating margin 3.0% (3.1% last year).

• Operating cash flow reached SEK 453 M in Q1, SEK 1.6 billion on a 12-month rolling basis.

• Service Business margin improved to 12.2% from 11.9% last year.

• New car deliveries up 2%, used car deliveries up 8% year-over-year.

Outlook and guidance

• Focus remains on efficiency and profitability, especially in Service Business.

• Management expects continued growth opportunities in Service Business despite macroeconomic and political uncertainty.

• Demand for service and repairs expected to remain strong; used car activity stable, with campaigns planned to boost electric vehicle sales.

• Uncertainty persists regarding new car demand, trade tariffs, and the future car market.

• Stable fleet customer order intake anticipated.