The Board of Directors of Bilia AB has today, as a result of the spread of the Corona virus Covid-19, taken the decision to postpone the annual general meeting to a later date. During the time until the annual general meeting the Board of Directors of Bilia will analyse and judge the situation and based on this assess the proposal for the 2019 dividend to the shareholders. Bilia will publish a new invitation to the annual general meeting no later than four weeks prior to the new date. The annual general meeting will be held, at the latest, on June 30 2020 in accordance with existing legislation.
Short update around Corona related effects
Out of Bilia’s totally 135 facilities, today nine facilities are closed in line with decisions from governments. These facilities are located in Western Europe, and in Belgium and Luxemburg the majority of our employees, around 300 persons, are from this week on short-time work allowance from their work. In Sweden and Norway all 95 and 27 facilities respectively are open. In Sweden the important Service Business is still relatively unaffected. We follow the development closely and are preparing for short-time work allowance to be implemented when needed. In Norway short-time work allowance is implemented this week for around 200 persons, due to lower demand for our services. Bilia intends, when needed, to utilize the offered support programs, which are partly or fully financed by governments in our operating countries.
Gothenburg, 24 March 2020
Bilia AB (publ)
This is information that Bilia AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 24 March 2020, at 13:15 CET.
Facts about the Bilia Group
Bilia is one of Europe’s largest car chains with a leading position within service and sales of cars and transport vehicles. Bilia has 135 facilities in Sweden, Norway, Germany, Luxembourg and Belgium. Bilia sells cars of the brand Volvo, BMW, Toyota, Renault, Lexus, MINI, Dacia, Alpine and transport vehicles of the brand Renault, Toyota and Dacia.
Bilia has today a fully expanded business with sales of new cars, e-commerce, spare parts and store sales, service and repair workshops, tyres and car glass and financing, insurance, car washes, fuel stations and auto salvage under the same roof, which gives a unique offer.
Bilia reported a turnover of about SEK 30 bn in 2019 and had about 5,000 employees.