D'IETEREN : Trading Update for the period ending 31 March 2015
May 28, 2015 at 02:05 am EDT
Share
Both activities (D'Ieteren Auto and Belron) realized higher sales and improved results during the first quarter of 2015. D'Ieteren Auto's market share declined slightly in a market that was marginally down but sales benefited from a positive price/mix effect and from higher deliveries to the dealer network. It was a mixed quarter for Belron with weaker trends in all of the major European markets while outside Europe positive organic sales growth mainly reflected a higher share in a US market that was slightly up. Total sales have benefited mostly from a favourable currency translation effect mainly due to a stronger US dollar.
The group continues to adapt itself to the challenging environment. The optimization of the D'Ieteren Car Centers' network (Brussels region) is progressing ahead of schedule. In addition to the profitability improvement initiatives that were announced in December 2014, Belron continues to focus on operational efficiency.
We maintain our previously announced guidance for 2015: a 2015 current consolidated result before tax, group's share, up in excess of 10% on 2014.
Summary of the first quarter
Consolidated sales rose by 10.4%.
D'Ieteren Auto: sales increased by 10.7% compared with the first quarter of 2014, thanks to a positive price/mix effect and higher deliveries to the dealer network. D'Ieteren Auto's net market share reached 20.71% (-9bps year-on-year) in a net market that was slightly down.
Belron: sales were up 10.2% comprising an increase in organic sales of 0.9%, 0.2% growth from acquisitions and a positive currency impact of 10.1%, partly offset by a 1.0% decrease from fewer trading days.
Outlook for FY 2015 current consolidated result before tax, group's share
On the basis of the current outlook of its activities, D'Ieteren maintains its previously announced guidance: a 2015 current consolidated result before tax, group's share, up in excess of 10% on 2014.
Group profile
D'Ieteren is a group of services to the motorist founded in 1805, serving some 12 million corporate and end customers in 34 countries in two areas:
- D'Ieteren Auto distributes Volkswagen, Audi, Seat, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles across Belgium. It is the country's number one car distributor, with a market share of more than 22% and 1.2 million vehicles of the distributed makes on the road at the end of 2014. Sales in 2014: EUR 2.7 billion.
- Belron (94.85% owned) is the worldwide leader in vehicle glass repair and replacement. In 2014, some 2,400 branches and 9,400 mobile vans, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass® served customers in 34 countries. Sales in 2014: EUR 2.9 billion.
Financial Calendar
Last five press releases
Next events
27 May 2015
Repurchase of own shares in the context of the liquidity contract
28 May 2015
General Meeting
20 May 2015
Repurchase of own shares in the context of the liquidity contract
2 June 2015
Ex date
13 May 2015
Repurchase of own shares in the context of the liquidity contract
4 June 2015
Payment date
6 May 2015
Repurchase of own shares in the context of the liquidity contract
In existence since 1805, and across family generations, D'Ieteren Group seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry and geographies. The Group currently owns the following businesses:
- Belron (equity-accounted investee) has a clear purpose: "making a difference by solving people's problems with real care". It is the worldwide leader in vehicle glass repair and replacement and operates in 40 countries, through wholly owned businesses and franchises, with market leading brands - including Carglass®, Safelite® and Autoglass®. In addition, Belron manages vehicle glass and other insurance claims on behalf of insurance customers;
- D'Ieteren Automotive distributes Volkswagen, Audi, SEAT, Skoda, Bentley, Lamborghini, Bugatti, Rimac, Cupra and Porsche vehicles in Belgium. It has a market share of more than 23% and 1.2 million vehicles on the road. Its business model is evolving towards "improving the lives of citizens with fluid, accessible and sustainable mobility";
- TVH Parts (equity-accounted investee), is a leading global independent distributor for aftermarket parts for material handling, construction & industrial, and agricultural equipment. It operates in 26 countries worldwide. It has a unique operating model and has a clear purpose of "keeping customers going and growing";
- Moleskine is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a global multichannel platform. Its purpose is to "unleash the human genius through hands on paper to empower creativity and knowledge in each individual and the entire world";
- D'Ieteren Immo groups together the Belgian real estate interests of D'Ieteren Group. It owns and manages 37 sites. It also pursues investment projects and carries out studies into possible site renovations.
D'IETEREN GROUP 
