Strong annual accounts for the Nic. Christiansen Group

The Nic. Christiansen Group continues on the good course set in the second half of 2018. Strong growth was maintained in 2019, and profit was increased almost fivefold to DKK 256 million.

2019 was a record year for the Nic Christiansen Group. Profit increased by almost DKK 200 million – while revenue rose from DKK 6.3 billion to DKK 8.8 billion. The total number of cars sold by import companies and retail dealers increased from 29,500 to 35,000.

Import dealerships, covering Hyundai, Jaguar, Land Rover and Honda, overall accounted for almost 26,500 cars sold, compared to 20,750 cars last year – an increase of 27% from 2018 to 2019.

We’re pleased with our performance in 2019. We’ve achieved record financial results – and continued the trend from the second half of 2018, when we also performed well. In 2018, we took over the import of Hyundai in Sweden, and in the first full financial year we’re pleased to conclude that the takeover of the brand in Sweden was successful. We already achieved a satisfactory profit in the first year of operation.Together with a number of other initiatives, we are well prepared for the future,” says CEO Niels Vrist Bertelsen

The good results in 2019 are due to many factors. These include an extraordinarily good year for British Car Import, which imports Jaguar and Land Rover to Denmark, Sweden and Norway. In Norway, sales of the allelectric Jaguar I-PACE were particularly successful. The profit before tax totalled DKK 116 million. In Sweden, a loss of DKK 23 million in 2018 was reversed to a profit of almost DKK 7 million in 2019. British Car Import in Denmark can also be very satisfied with a profit of DKK 4.7 million.

After a tough 2018, Hyundai in Denmark achieved a good result of DKK 29 million before tax in 2019. Hyundai in Sweden also achieved a satisfactory result – totalling around DKK 14 million before tax. The good results in both countries are supported by a strong model programme – including very significant sales of electric and hybrid vehicles.

In Denmark, Hyundai sales increased from 8,084 in 2018 to 9,067 in 2019. This represents an increase of 12%. The Hyundai Kona electric car is the second-most sold electric car in Denmark.

Hyundai in Sweden achieved even higher growth, with a sales increase from 4,622 in 2018 to 6,404 in 2019. This represents a sales increase of 38% after we took over the import activity. It should be noted that the Hyundai Ioniq and Hyundai Kona electric cars alone account for 1,332 of the total number sold. Hyundai is thus already one of the market’s leading players for electric cars, and the coming years’ model programme ensures great potential to maintain and expand its position as the ‘green’ car make.

The increasing sales figures give a positive derived effect for NCG Finans, which contributes a profit of DKK 23.5 million to the overall result of the Nic. Christiansen Group – an increase of DKK 10 million from 2018

Honda in Finland and the Baltic States was challenged in 2019 by rising producer prices for Honda throughout Europe, which reduced competitiveness. Sales declined from 3,500 cars sold in 2018 to 2,400 cars sold in 2019. The company was also restructured, with most of the organisation being moved from Finland to the Baltic region.

The results of retail operations are also very satisfactory.

We have strong retail dealers. In particular, Bayern AutoGroup once again achieved fine results. After a record year in 2018, Bayern AutoGroup returned a profit of DKK 42.8 million before tax, and can also proudly present a very high customer satisfaction rate. Terminalen, which presented a small deficit, can still look back on a year in which good progress was made,” says Niels Vrist Bertelsen.

Strong faith in the future

The first two months of 2020 began really well, but just like the rest of the world, we are affected financially by the consequences of the coronavirus pandemic. Yet it is important to emphasise that we are a financially very sound business that is well-prepared for the future,” says Niels Vrist Bertelsen, before continuing:

In both our import business and our retail operations we have a portfolio of cars that all support the more sustainable development of the passenger car as a means of transport. We’re both proud and pleased to have some of the most innovative, high-tech cars. The political focus on more environmentally friendly cars, and consumers’ increasing demand for plug-in hybrid and all-electric cars, fit hand in glove with our focus on the green transformation,” says Niels Vrist Bertelsen.

In organisational terms, the Nic. Christiansen Group is also ready for future development.

We’re focused on utilising the synergies between our companies. We’re continuously implementing joint functions with a high level of specialised know-how, to allow for scalability, and better use of resources across brands and markets. In 2019 and the beginning of 2020, we not only recruited some of the best capacity within IT, Supply Chain Management and aftersales; we also invested a double-digit million-kroner amount in IT processes and tools which leverage digital opportunities to promote the further development of relevant mobility benefits and services, to the advantage of our many customers, thereby delivering an even better customer experience."

"In conclusion, we can state that the results for 2019, and the initiatives we are currently implementing, consolidate the Nic Christiansen Group as one of the key players in the Nordic mobility market. Through innovation, competitiveness and focused initiatives, we will further strengthen this position in 2020,” says Niels Vrist Bertelsen

About the Nic. Christiansen Group

  • Nic. Christiansen founded his business in 1967, when he acquired the BMW dealership for Denmark. Nic. Christiansen died in 2010, at the age of 93. The business is now owned by Nic. Christiansen's eldest daughter, Birthe Christiansen, and her two daughters, Camilla and Carina.
  • The three main business areas in which the Nic. Christiansen Group operates are import, retail and leasing/finance.
  • The Nic. Christiansen Group imports Hyundai's popular car models to Denmark and Sweden. In addition, the Group holds the import agency for exciting car makes such as Jaguar and Land Rover in Denmark, Sweden and Norway, and Honda in Finland and the Baltic States.
  • The Group also has three car dealership chains with branches throughout Denmark: Bayern AutoGroup, dealing in BMW and MINI; Terminalen, dealing in the makes Hyundai, Honda, Fiat, Suzuki, Mazda, Nissan and Toyota; and British MotorGroup, dealing in Land Rover and Jaguar.
  • In January 2016, the Nic. Christiansen Group launched the digital leasing concept SimplyGo, which offers flexible mobility solutions to both private customers and businesses.
  • At the end of 2019, the Nic. Christiansen Group employed 697 people (full-time positions). The Group believes in attracting and retaining the best and most knowledgeable employees in the car sector. Through many years of service, the Group's employees have built up considerable, unique knowledge of the sector, enabling them to provide advice and guidance on the optimum solutions for each individual customer.
Address: Sjællandsvej 1 · 6000 Kolding · Denmark · Phone: (+45)7015 1599 · E-Mail: mail@nc.dk 

Telefon:

Telefon:

Telefon:

Telefon:

Telefon:

Telefon:

Telefon:

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, 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.