Mekonomen AB Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
February 11, 2022 at 12:00 pm IST
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Mekonomen AB (publ) reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was SEK 3,129 million compared to SEK 2,879 million a year ago. Revenue was SEK 3,218 million compared to SEK 3,000 million a year ago. Net income was SEK 117 million compared to SEK 185 million a year ago. Basic earnings per share from continuing operations was SEK 2.09 compared to SEK 3.29 a year ago.
For the full year, sales was SEK 12,309 million compared to SEK 11,511 million a year ago. Revenue was SEK 12,552 million compared to SEK 11,763 million a year ago. Net income was SEK 572 million compared to SEK 432 million a year ago. Basic earnings per share from continuing operations was SEK 10.21 compared to SEK 7.67 a year ago.
Meko AB, formerly Mekonomen Aktiebolag is a Sweden-based corporate Group that operates and develops business in the automotive aftermarket. The Company is a spare parts distributor with concepts and brands in Northern Europe Denmark, Norway, and Sweden, and Polish market with exports to Germany, the Czech Republic and the Baltics, among others. Meklo operates within four business areas: FTZ, Inter-Team, MECA/Mekonomen and Soerensen og Balchen. The FTZ business area primarily includes wholesale and branch operations in Denmark. The Inter-Team business area primarily includes wholesaling and shop operations in Poland and export operations. The MECA/Mekonomen business area primarily includes wholesale, branch, workshop and fleet operations in Sweden, Norway and Finland. The business area consists of the operations MECA, Mekonomen and a number of smaller operations. The Soerensen og Balchen business area primarily includes wholesale and shop operations in Norway.