The Nic. Christiansen Group is ready for growth after 2017, which was a transformative year

Automobile enterprise Nic. Christiansen Holding A/S presents financial results for 2017. Group turnover reached a record DKK 6.4 billion in a year that saw a series of necessary adjustments that affected the bottom line. Nic. Christiansen Holding A/S strongly believes that with these changes, earnings will improve and there will be growth across the business areas in 2018. 

2017 was an eventful year for Nic. Christiansen Holding A/S: The market became stagnant during a period of political negotiations concerning the vehicle registration tax and as a result, adjustments were made to vehicle stocks, there was a re-balancing of SsangYong imports, a new Jaguar/Land Rover dealer was established in Stockholm, the leasing concept SimplyGo was further developed, and in particular, the Honda agency in Finland and the Baltic States was successfully acquired and started up. 

While the year’s turnover ended at a satisfactory DKK 6.47 billion, the financial year’s pre-tax loss of DKK 6.2 million did not meet the management’s expectations for 2017. Despite this result, Nic. Christiansen Holding A/S continues to be an excellent and healthy business. The financial year’s result was caused by two factors: 

 

  • Falling sales during the political negotiations concerning the vehicle registration tax at the end of 2017 and the consequences of a relaxation of this tax.
  • A Swedish market with intense competition in the premium market and increased private leasing sales, and the fact that SsangYong proved to be less competitive that expected.

This meant that Nic. Christiansen Holding A/S had to make necessary adjustments, and the company is now once again, looking ahead. 

“2017 did not develop as we had expected or hoped. There were several reasons for this, such as increased competition, especially in Sweden, the subsequent investments and necessary adjustments of vehicle stocks, a turbulent second six months in the Danish automobile industry, with stagnation for the period around the political negotiations concerning the vehicle registration tax and its subsequent re-organisation. Nic. Christiansen Holding continues to be an excellent and healthy business and I’m sure that 2018 will be a better year,” says Group CEO at Nic. Christiansen Holding A/S, Niels Vrist Bertelsen.

“In 2017, we made necessary adjustments, initiatives and investments. The vehicle registration tax issue has been dealt with, while the Swedish market will require further investments in 2018. Timely care combined with a successful focus on our key markets means that we have put 2017’s results behind us and we expect to see improved earnings and growth in 2018 and in the years ahead. We are confident and have great expectations about the future.”

The Bayern AutoGroup Group presented a record gross result in 2017 of DKK 138.1 million (compared to DKK 127 million last year), and a positive result before tax of DKK 27.2 million (DKK 21.4 million). Above all, the increase was due to Danes investing more in new cars in the premium segment, including BMW, following the changes to the vehicle registration tax.

Honda activities, which Nic. Christiansen Holding A/S acquired on 1 April 2017, also had a successful year in 2017. Despite costs related to the acquisition, Honda imports are already delivering positive results. 

“I am proud that in 2017 we achieved an important milestone in the group’s ambitious strategy plan, so we are now operating dealers across the entire Baltic Region, and I am very pleased that sales of Honda cars in Finland and the Baltic States are already developing so well in the first year. I have great expectations overall, in 2018 and onwards,” says Niels Vrist Bertelsen.

In 2017, Nic. Christiansen Holding A/S has focused on investments in development activities and the further development of the group’s commitment to the opportunities resulting from increased and changed patterns of mobility. The strategic focus will also continue in the future.

“In 2018 and beyond, we will also invest resources in the effort to secure a leading position in tomorrow’s market for mobility, where new means of driving cars, e.g. electricity, digitisation and the shared economy, and in the long-term, self-driving vehicles, will radically alter the way we think about transport. With us, the customer is always in focus, and I am convinced that we are particularly well prepared for meeting customers’ mobility requirements in the future,” says Niels Vrist Bertelsen. 

About Nic. Christiansen Holding

  • The company was established in 1967, when Nic. Christiansen became the BMW import agent in Denmark. Nic. Christiansen died in 2010 at the age of 93. Today the firm is owned by Nic. Christiansen’s eldest daughter, Birthe Christiansen and her two daughters, Camilla and Carina.
  • The Nic. Christiansen Group operates in three main business areas – import, retail and leasing/finance.
  • Nic. Christiansen Group A/S has been importing popular Hyundai cars into Denmark since 1992. In addition, the group is the import agency for exciting car brands such as Jaguar and Land Rover in Denmark, Sweden and Norway, Honda in Finland and the Baltic States, and the group’s portfolio also includes SsangYong in Denmark and Sweden.
  • The group also has three car dealership chains, with businesses all across Denmark: Bayern AutoGroup, which is the dealer for BMW and MINI, Terminalen, which is the dealer for Hyundai, Honda, Fiat, Suzuki, Mazda, Citroën, Nissan, Toyota and British MotorGroup, which is the dealer for Land Rover and Jaguar.
  • Nic. Christiansen Holding also introduced the digital leasing concept SimplyGo in 2016, which provides short-term leasing to both private customers and companies.
  • The number of full-time employees in Nic. Christiansen Holding A/S grew from 578 to 642 in 2017. The group believes strongly in attracting and retaining the best and most knowledgeable employees in the automobile industry. Through many years of working in the industry, the group’s employees have developed extensive and unique knowledge about the market, which makes them able to provide advice and guidance in obtaining the most optimal solutions for every single customer in every single situation.
Address: Sjællandsvej 1 · 6000 Kolding · Denmark · Phone: (+45)7015 1599 · E-Mail: mail@nc.dk 

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The history of the Nic. Christiansen Group began in 1967, with the import of BMW. The company's primary activities today are the import of Hyundai, Honda, SsangYong, Land Rover and Jaguar, owning three car trading chains, Terminalen, Bayern AutoGroup and British MotorGroup as well as leasing and financing company NCG Finans.

The Nic. Christiansen Group has operations in Denmark, Norway, Sweden, Finland and the Baltic States and employs approx. 630 employees.