2018 FULL-YEAR RESULTS
- This is an abstract. For further details, please refer to the full press release. –
2018 was a positive year for D’Ieteren: its activities realised healthy sales and profit growth and D’Ieteren’s key performance indicator (KPI) – the adjusted consolidated result before tax, Group’s share, increased by 15.8% to EUR 226.1 million, against a 10-15% growth guidance.
- D’Ieteren Auto’s sales growth (+3.2%) was underpinned by a positive price and model mix effect. Its market share reached 21.45% (+14bps). The adjusted result before tax, group’s share improved by 18.7% reflecting a positive model mix effect and cost control.
- Belron reported strong organic sales growth (+10.3%). On a comparable basis, the adjusted operating result improved by 20.1%. The 10.3% rise in the adjusted result before tax, Group’s share reflects higher operating results and increased financial costs following refinancing linked to cash distribution to the shareholders in Q4 2017 and Q4 2018.
- Moleskine’s sales rose by 14.8% at constant exchange rates. Each region delivered double digit growth. B2B was the fastest growing channel. The adjusted result before tax rose by 24.3% to EUR 18.9 million.
- Other (including corporate and real estate activities) reported an adjusted result before tax, Group’s share of EUR -4.8 million in 2018 compared to EUR -4.3 million in 2017.
- The Board of Directors proposes a gross ordinary dividend of EUR 1.00 per share.
On a comparable basis, D’Ieteren is aiming for a double-digit improvement for its FY 2019 adjusted consolidated result before tax, Group’s share. The guidance assumes a 54.10% stake in Belron in 2018 (rebased) and 2019 and average foreign exchange rates in 2019 that are in line with the exchange rates that prevailed at the end of 2018.
End of abstract
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 21% and 1.2 million vehicles on the road. Sales and adjusted operating result reached respectively EUR 3.4 billion and EUR 113.0 million in 2018.
- Belron (54.10% owned) 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 35 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. It has also expanded its services into the automotive damage and home damage repair and replacement markets. Sales and adjusted operating result reached respectively EUR 3.8 billion and EUR 225.7 million in FY 2018.
- 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 more than 115 countries. Sales and operating result reached respectively EUR 174.1 million and EUR 28.6 million in FY 2018.
Axel Miller, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
Pascale Weber, Financial Communication - Tel: + 32 (0)2 536.54.39