2017 Half-Year Results
H1 2017 was a positive semester for D’Ieteren: its three activities realised solid sales growth and D’Ieteren group’s key performance indicator (KPI) – the adjusted consolidated result before tax, group’s share – increased by 4.9% or by 2.8% excluding Moleskine.
- D’Ieteren Auto’s strong sales performance reflects the continued supportive market trend and a significant market share gain in the light commercial vehicle segment. Its stable adjusted operating result reflects the combined effect of volume growth, commercial incentives and the evolution of the brand/product mix.
- Belron’s organic sales growth was solid both in Europe and outside Europe. The adjusted operating result improved by 6.9% in spite of mild winter conditions in the Northeast of the US, service extension costs and a higher charge related to the long term management incentive programme reflecting the expected improvement in future performance.
- Moleskine (included as from 1 October 2016) realised encouraging sales growth (+6.9%) supported by solid sales in particular in B2B and Retail. Its operating result reflects the company’s strategy to invest in future growth. The sales momentum is set to accelerate in H2 2017.
D’Ieteren maintains its full-year guidance: the group aims at an adjusted consolidated result before tax, group’s share, that is about 10% higher compared to EUR 241.6 million in 2016. This guidance is based on average foreign exchange rates for the full year that are in line with rates that prevailed on 30 June 2017.
D’Ieteren’s management will organise a conference call for analysts and investors starting today at 06:00 pm CEST (Brussels time). The conference call can be attended by calling the number +32 2 402 96 40 (participant code: 23163706#). The presentation slides will be made available online simultaneously to the publication of this press release at the following address: http://www.dieteren.com/en/newsroom/press-releases (then select the HY 2017 results event).
In existence since 1805, and across family generations, D’Ieteren 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 or in their geographies. The group has currently three activities articulated around strong brands:
- D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 22% and 1.2 million vehicles on the road at the end of 2016. Sales and adjusted operating result reached respectively EUR 3.1 billion and EUR 75.8 million in FY 2016.
- Belron (94.85% owned) makes a difference by solving people’s problems with real care. It is the worldwide leader in vehicle glass repair and replacement, trading under more than 10 major brands including Carglass®, Safelite® AutoGlass and Autoglass®. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles. Sales and adjusted operating result reached respectively EUR 3.3 billion and EUR 190.7 million in FY 2016.
- Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across 102 countries. Sales and operating result reached respectively EUR 145.2 million and EUR 34.0 million on a stand-alone basis in FY 2016.
Axel Miller, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
Pascale Weber, Financial Communication - Tel: + 32 (0)2 536.54.39
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