D'Ieteren Announces Group Sales Results for the First Quarter of 2018; Reaffirms Earnings Guidance for the Full Year 2018
May 29, 2018
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D'Ieteren announced group sales results for the first quarter of 2018. The group's combined sales rose by 3.5% in first quarter of 2018.
The company unchanged full-year guidance: the company is aiming for a mid-to-high single-digit improvement for its adjusted consolidated result before tax, group's share. Following the sale of 40% of its shares in Belron to CD&R, D'Ieteren's stake in Belron stands at 54.85% as from February 2018. The guidance assumes a 58.18% stake (a weighted average of 94.85% for one month and 54.85% over 11 months) in 2017 and 2018. If Belron had been consolidated according to this ratio (58.18%) in 2017, the adjusted consolidated result before tax, group's share, would have been EUR 195.9 million. This guidance assumes average foreign exchange rates in 2018 that are in line with the exchange rates that prevailed at the end of 2017.
In existence since 1805, and across family generations, D'Ieteren Group (the Group) is an investment company seeking growth and value creation by building a family of businesses that reinvent their industries and search for excellence and meaningful impact. It currently owns the following businesses:
- Belron (50.30% in fully diluted economic rights at 31 December 2023, equity-accounted investee): worldwide leader in vehicle glass repair, replacement and recalibration;
- D'Ieteren Automotive (100% owned): distributor of Volkswagen, Audi, SEAT, Skoda, Bentley, Lamborghini, Bugatti, Cupra, Rimac, Microlino, Maserati and Porsche vehicles in Belgium and expanding into other mobility services;
- PHE (100% in economic rights - see note 2) is a leader in the independent distribution of spare parts for vehicles in Western Europe, present in France, Belgium, The Netherlands, Luxemburg, Italy and Spain;
- TVH (40% owned - equity accounted-investee): leading global independent distributor for aftermarket parts for material handling, construction & industrial, and agricultural equipment;
- Moleskine (100% owned): develops and sells iconic branded notebooks and writing, travel and reading accessories through a global multichannel platform;
- D'Ieteren Immo (100% owned): groups together the Belgian real estate interests of D'Ieteren Group.
D'IETEREN GROUP 
