D'ieteren, the Belgian specialist in automobile distribution has the fundamental arguments for a recovery.
The growth potential of margins gives credit to a good management and a healthy business. In terms of valuation, the “EV/Sales” ratio is equal to 0.4, showing an opportunity for investors seeking for a “value” stock. In addition, the consensus remains largely buyer with a price target near 37 EUR.
Technically, the 32 / 33.75 EUR trading range and horizontal moving averages highlights an indecision on the stock. However, the share is trying to breakout this trading range in order to reach the short term resistance at EUR 35.7.
A long position can be open with a stop-loss below EUR 32.80, indicating a failure of the breakout strategy.
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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 
