S.A. D'Ieteren N.V. Announces Consolidated Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Year of 2013
November 13, 2013
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S.A. D'Ieteren N.V. announced consolidated interim management statement for the third quarter and nine months ended September 30, 2013. For the quarter, the company's sales decreased by 1.5% year on year. Current consolidated result before tax, group's share, down by 10.8% over the quarter.
For the nine months, the company's sales decreased by 1.3% year on year. Current consolidated result before tax, group's share, down by
8.4% over the first nine months of the year. As at 30 September, the consolidated net financial debt is down year-on-year.
Given the current outlook of its activities as well as the uncertain economic environment, D'Ieteren still expects its 2013 current consolidated result before tax, group's share, to decline by 10 to 15% compared with 2012. As a reminder, excluding the impact in 2012 of the reversal of provision related to Belron's long term executive incentive scheme, the like-for-like result for 2013 would remain roughly flat.
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.
S.A. D'Ieteren N.V. Announces Consolidated Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Year of 2013