Bilia (BILI) Q2 2025 earnings summary

Executive summary

• Net turnover for Q2 2025 was SEK 10,551 M, stable year-over-year, with operational earnings at SEK 348 M and a margin of 3.3%.

• Order intake for new cars increased 13% year-over-year, with a growing order backlog and signs of improving demand.

• Earnings improved in Norway and Western Europe, while Sweden saw lower results due to used car and service business performance.

• Service Business contributed 64% of operational earnings in Q2, with a margin of 10.4%.

• Net profit for Q2 was SEK 192 M, with EPS of SEK 2.08.

Financial highlights

• Q2 operational margin was 3.3% (down from 3.9%); H1 margin was 3.4% (down from 3.7%).

• Operating cash flow for Q2 was SEK 188 M, with SEK 1.4 billion on a 12-month rolling basis.

• Dividend of SEK 5.60 per share for the year, with SEK 1.40 per share paid in Q2.

• Cash flow from divestment of Mercedes-Benz Trucks amounted to SEK 245 M.

• Operating profit in Q2 was SEK 323 M, including SEK 28 M profit from divestment.

Outlook and guidance

• Management is cautiously optimistic for H2 2025, citing pent-up demand and increased activity among private customers.

• Focus remains on profitability, capital allocation, and inventory management.

• Service business and total car market activity expected to remain stable.

• Used cars, especially electric models, to remain under slight price pressure.

• Order intake and backlog improvements suggest potential for sustained recovery.