Automotive Dealership Firm Experiences Solid Bet by Its Chairman

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Founded in 1967 and headquartered in Sweden, Bilia AB (BILLI-A:SE) is a prominent full-service supplier in Europe for various aspects - from services and sales - related to car ownership, and other transport vehicles. The car dealership firm employs around 5,000 individuals across its 150 facilities and is listed on the Nasdaq Nordic stock exchange with a Market Cap of SEK 9.392 billion.

Chairman’s Impressive Bet

Between October 24 and 25, Mats Qviberg, the Chairman of the board, acquired 65,097 shares at an average per-share price of SEK 101.72, resulting in a total transaction value exceeding SEK 43 million. The significance of this trade lies in its timing, occurring shortly after the firm's Q3 2023 results were announced.

Billia AB Chart

Asset Managers Noteworthy Holdings

In addition to the acquisitions made by the Chairman, notable institutional investment firms and mutual funds also increased their holdings in the car dealership company. On August 31, Swedbank Robur Fonder AB raised its holdings by nearly 2.98 million shares. Simultaneously, Origo Fonder AB increased its position by around 30,000 shares.

Almost a month later, on September 29, Avantis International Small Cap Value ETF acquired 606,586 shares, and on the same day, Schwab Fundamental International Small Company Index ETF purchased 197,179 shares.

Strong Financial Results

The company disclosed strong performance in its Q3 2023 financial report.

The net turnover displayed a notable 19% increase, reaching SEK 8,708 million, while operational earnings amounted to SEK 335 million, with Sweden and Western Europe performing particularly well. The operating profit was SEK 288 million, and the net profit for the period amounted to SEK 169 million.

In summary, the company reported substantial increases for the period.