Annual and Sustainability Report 2019 Annual Report 2019 Group Finances 2019 AS Finances 2019 Sustainability Report 2019
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Annual and Sustainability Report 2019 Annual report 2019 Group Finances 2019 AS Finances 2019 Sustainability report 2019 Contents Facts 2019 ANNUAL REPORT 2019 Møller Mobility Group had record sales and excellent results in 2019. This year, the Group expects This is Møller Mobility Group 3 approximately 60% of the new car market in Norway to be electric, while we do not yet see the Megatrends 4 Volkswagen Group’s strategy for sustainability 5 impact the coronavirus will have on our industry. CEO Petter Hellman 7 Møller Mobility Group’s responsible ownership 8 The share of the Group’s new car sales made The Group achieved a consolidated profit far-reaching developments in the industry. The Møller Mobility Group’s sustainable business 9 up by electric cars increased from 31% to 42% before tax of NOK 1,031 million in 2019, com- strategy contained elements of both defence in 2019, with the Audi e-tron and Volkswagen pared with NOK 880 million in new car sales in and attack to reduce risks and costs, identify pos- CFO Anna Nord Bjercke 11 e-Golf as the two best-selling models. The shift 2018. The improvement is mainly attributable to sible new revenue streams, create and launch A new strategy for a new decade 12 from fossil-fuelled to chargeable cars is expected the business area Car Imports, while Car Dealers new mobility services, and establish a strong Our value chain 13 to continue in full force in Norway, and Møller and Car Finance had stable results compared digital presence. We have largely achieved the Report from Harald A Møller AS 15 Mobility Group estimates that 60% of the market with 2018. Most of the increase is due to the 17% strategic and financial objectives of The RACE. Report from Møller Bil AS 16 for new cars will be electric in 2020. growth in turnover, which has also resulted in Work on a new strategy up until 2025 started Report from Volkswagen Møller Bilfinans 17 Møller Mobility Group had record sales total- higher gross profits. in spring 2019. The new group strategy entails ling NOK 30.6 billion in 2019, driven by good In spring 2017, Møller Mobility Group significantly raised ambitions for developing Technology and digitalisation – two main drivers 18 sales of electric passenger cars in Norway, a launched a group strategy for the period up people and business, while we do not yet know Contributing to a sustainable society 20 strong end to the year in Sweden, and contin- to 2020 called The RACE. The strategy was what impact the coronavirus will have on our Environment, Employees, Society, Mobility 21 ued good growth in the Baltics. the Group’s response to the fast-paced and industry. Chair of the Board Øyvind Schage Førde 26 Financial key figures 27 FINANCIAL RESULTS 2010 – 2019 Report from the Board of Directors 28 35 000 FINANCIAL STATEMENT AND NOTES – GROUP 32 1200 1100 30 000 FINANCIAL STATEMENT AND NOTES – AS 52 1000 900 Auditor’s report 63 25 000 800 20 000 700 SUSTAINABILITY REPORT 2019 600 15 000 500 Environment 67 Operating revenue 400 10 000 Employees 73 300 Society 78 5000 200 Profit before tax 100 Mobility 80 0 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 UN Global Compact Index 83 2 Annual report 2019 Group Finances 2019 AS Finances 2019 Sustainability report 2019 2019 Møller Mobility Group in numbers Møller Mobility Group is a family-owned group involved in the import, sale, 4,282 servicing and financing of Volkswagen, Audi, ŠKODA and SEAT cars. The > Employees in Norway, Sweden company is represented in Norway, Sweden and the Baltic States. and the Baltics 30.6 CAR IMPORTS CAR DEALERS FINANCIAL SERVICES > Turnover for the year Harald A. Møller AS is Norway’s largest car Møller Mobility Group has a total of 70 car deal- Volkswagen Møller Bilfinans AS is jointly owned (NOK billions) importer. The company is responsible for ers in Norway, Sweden and the Baltics. Møller Bil by Møller Mobility Group (49%) and Volks wagen importing, distributing and servicing Volks- Norge is Norway’s largest car dealer chain and Financial Services AG (51%). The company offers wagen, Audi, Škoda and SEAT cars in Norway. has 44 dealers and 11 specialised repair work- loans, leasing products and insurance linked to Almost one in every four new cars sold in Nor- shops throughout the country. Møller Bil Sverige the respective brands’ sales of new and used 1,031 way has been imported by Harald A. Møller AS. is Sweden’s second largest Volkswagen, Audi, cars. Volkswagen Møller Bilfinans is Norway’s > Profit before tax Moller Baltic Import SE imports Volkswagen into Škoda and Seat dealer group and has a total of largest leasing company and a fully integrated (NOK millions) Estonia, Latvia and Lithuania, and Audi into Latvia 13 sales outlets in central Sweden. Møller Auto part of the Volkswagen, Audi, Škoda and SEAT and Lithuania. Baltic has 13 sales outlets in Estonia, Latvia and value chain in Norway. Lithuania. 56,396 > Cars imported (all brands in all our markets) 43,508 > New cars sold by Møller Bil 31,428 Car Imports Car Dealers Financial Services > Used cars sold by Møller Bil 3 Annual report 2019 Group Finances 2019 AS Finances 2019 Sustainability report 2019 Expert Megatrends inspire committee us to think smart with an eye on the future In 2018, the Norwegian government Megatrends are global forces that affect us all. We are already seeing appointed an expert committee on “Technology in the Transport Systems of some major changes, and there is an urgent need to find new, sustainable the Future”, headed by John-Mikal Størdal, solutions. Møller Mobility Group has devised a strategy for how we will work Director General of the Norwegian Defence Research Institute. The committee’s report to contribute to positive changes. was presented in June 2019. The expert committee highlights mobility as one of four major technology-driven trends that will dominate the transport sector going forwards: “There is a growing diversity of individual-oriented business models, tailored for flexible sharing of mobility services. Digital solutions have triggered the development of a number of innovative services that mean that individ- uals no longer need to invest in their own vehicle to meet their transport needs.” URBANISATION CLIMATE CHANGE DIGITALISATION MOBILITY (The other three trends are electrification, By 2030, almost 70% of the world’s The climate is changing, with Our everyday lives are becoming Society will continue to self-driving transport i.e. automation population will live in cities. There major consequences for us all. increasingly digitalised. Tech- depend on our ability to move and autonomy; and intelligent transport systems.) will be a marked increase in the One thing is certain: the world nology is an important resource from one place to another in number of megacities, but the must reduce its carbon footprint, for growth and development. At the future. Sustainable mobility From the report “Technology for Sustainable strongest population growth will and the Paris Agreement’s target the same time, technology will be will be at the core of efforts Freedom of Movement and Mobility”. be in small and medium-sized of limiting global warming to 1.5°C an important part of the solution to overcome the challenges cities. This will necessitate flexible is a critical requirement. The Earth’s for a more sustainable world. of urbanisation and climate mobility. temperature may have risen by change. 1.5°C by as early as 2030, and the increase will not stop there. 4 Annual report 2019 Group Finances 2019 AS Finances 2019 Sustainability report 2019 Volkswagen Group’s strategy for greater sustainability Volkswagen AG is Møller Mobility Group’s main partner. The factory manufactures all the car brands we sell, which means that Volkswagen AG’s strategic choices affect our business. For Møller Mobility Group, having the VOLKSWAGEN AG Volkswagen AG has set concrete world’s largest automaker as our partner is a strength. Volkswagen has the weight to be able to make choices targets for climate change, environ- mental performance in general, and that align with the need for increased sustainability and the challenges posed by the megatrends. the mobility of the future. Central to both the business strategy and the Group’s own commitments are efforts to increase sustainability. GROUP STRATEGY BUSINESS GOALS CLIMATE AND THE ENVIRONMENT «TOGETHER 2025» «GO TO ZERO» CLIMATE CHANGE USE OF RESOURCES AIR QUALITY ENVIRONMENTAL COMPLIANCE Volkswagen’s goal is to develop • Has committed to work to meet • Maximise resource efficiency • Investing in electric mobil- sustainable mobility for us and the Paris Agreement’s goal of and promote circular economy ity to improve air quality. • Aiming to be a role future generations. With electric limiting global warming to no approaches in the areas of model for a modern, drive, digital networking and more than 2°C. materials, energy, water and • By 2025, the share of transparent, successful autonomous driving, they intend land use. battery electric vehicles business. to make cars clean, quiet, intelli- • By 2050, Volkswagen AG’s oper- in the model portfolio will gent and safe. In this way, the car ations will be climate neutral. • By 2025, production-related be 20–25%. • Prioritising integrity and can continue to be a cornerstone environmental externalities will effective management of contemporary, individual, • By 2025, the total life-cycle emis- be reduced by 45% per vehicle • This figure will be systems covering the affordable mobility in the future. sions of greenhouse gases from compared with 2010. increased to 40% by 2030. environmental impacts passenger cars will be reduced of our mobility solutions by 30% compared with 2015.