2019 HALF-YEAR RESULTS
- This is an abstract. For further details, please refer to the full press release. –
D’Ieteren group’s key performance indicator (KPI) – the adjusted consolidated result before tax, group’s share – rose by 25.3% to EUR 178.9 million on a comparable basis (54.10% stake in Belron in H1 2018 and H1 2019).
- D’Ieteren Auto’s share improved in a new car market that was down 7.4%, in line with expectations. The decline in sales (-3.1%) and the adjusted result before tax, group’s share (-7.2%) reflects lower volumes, a negative mix effect and a lower contribution from the Retail activities.
- Belron delivered solid organic sales growth (+5.1%). Its adjusted result before tax, group’s share improved by 88.8% reflecting good progress on its Fit for Growth programme.
- Moleskine’s sales recovered in Q2 2019 (+9.3%) following the drop in Q1 2019 (-14.7%) to arrive at -2.2% in H1 2019. The decline in Q1 2019 was mainly due to some exceptionally large B2B orders in Q1 2018. The adjusted result before tax, group’s share reached EUR -1.7 million (EUR 0.4 million in H1 2018).
- Other (including corporate and real estate activities) reported an adjusted result before tax, group’s share of EUR -9.1 million in H1 2019 compared to EUR -4.6 million in H1 2018.
Unchanged FY 2019 guidance: D’Ieteren aims at an adjusted consolidated result before tax, group’s share that is at least 25% higher compared to last year’s result (EUR 220.4 million when restated to reflect the current 54.10% stake in Belron). This guidance reflects continued progress of Belron’s results.
End of the 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 the following activities:
- 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. Its business model is evolving towards providing citizens with responsible and innovative mobility. 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.
- D’Ieteren Immo (100%) groups together the Belgian real estate interests of D’Ieteren Group. It owns and manages approximately 30 properties which generated EUR 18.7 million net rental income in FY 2018. It also pursues investment projects and carries out studies into possible site renovations.
Francis Deprez, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
Pascale Weber, Investor Relations - Tel: + 32 (0)2 536.54.39