Strong resilience expected in a volatile environment
The improving trends communicated in our H1 2020 publication at the end of August, continued throughout the third quarter and in October.
In the absence of a more severe lockdown in our main geographies or any other major disruptive event, D’Ieteren Group expects its FY 2020 adjusted consolidated result before tax, group’s share, to be around the level of FY 2019 on a comparable basis.
The Group’s priority remains to ensure the safety and well-being of all its employees, customers and suppliers.
Here below some comments on our main activities:
- Improving trends seen in July and August continued throughout the 3rd quarter and in October, with mid single-digit volume declines on average
- Pursuit of our transformation program
- Uncertainty related to the impact of the second Covid-19 wave, especially in Europe
- Service centers remain open when and where allowed
- New Covid-19 measures imply:
- Closure of showrooms
- Delivery of new vehicles still possible, at home or in showroom parkings
- New orders possible online
- After-sales allowed as essential service
- Acceleration of our transformation program proceeds according to plan
- Uncertainty related to new sales and to the acceptance for delivery at home
- Sales impacted by the closure of several shops, no signs of recovery versus 1H 2020
- Major focus on costs
- Uncertainty related to additional points of sales closures
End of press release
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 has a market share of around 22% 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. Sales and adjusted operating result reached respectively EUR 3.6 billion and EUR 119.0 million in FY 2019.
Belron (54.85% of voting rights) 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 39 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. Sales and adjusted operating result reached respectively EUR 4.2 billion and EUR 400.5 million in FY 2019.
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 114 countries. Sales and adjusted operating result reached respectively EUR 163.9 million and EUR 18.6 million in FY 2019.
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 19.7 million net rental income in FY 2019. It also pursues investment projects and carries out studies into possible site renovations.
Francis Deprez, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
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