Belron Reports Increase in AGRR Jobs

D’Ieteren, parent company to Belron, reported that its AGRR division saw jobs increase by 5 percent to 2.8 million jobs for the quarter. Outside of Europe, most of the company’s organic growth came from the U.S. and Brazil, according to officials.

“Outside Europe, the sales decline is 2.4 percent, consisting of a 3.9-percent organic increase and 2.6-percent growth from acquisitions, offset by a 8.9-percent negative currency translation effect,” officials write in the company’s interim management statement. “The organic growth is primarily in the U.S. and Brazil, partially offset by the impact of continued market declines in Australia and Canada.

“The acquisition growth is predominately due to Giant Glass in the U.S. and the former franchisees in Canada,” officials continue. “The translation impact is due to the strengthening of the Euro against the majority of currencies outside Europe.”

In Europe, sales came in 5.6-percent higher than 2012, including a 5.3-percent organic increase and 2.3-percent growth from acquisitions, partially offset by a 2-percent negative currency translation effect.

“The organic sales increase is primarily due to the impact of promotional activity undertaken in the period and a slight market increase,” officials write. “The acquired growth is predominately due to the acquisitions of Doctor Glass in Italy and ADR Group in the United Kingdom in 2012. The translation effect is due to the weaker GBP.”

For the nine-month period, Belron sales came in 4.4-percent higher than 2012 due to a 5.1-percent organic increase and 2.6 percent growth thanks to acquisitions, according to officials. This was offset by a 0.7-percent decrease from fewer trading days and 2.6 negative currency translation effect. AGRR jobs for the period are up 4 percent to 8.4 million, compared to 2012.

Outside of Europe, sales grew slightly by 0.1 percent, including a 2.6-percent organic increase and 2.4-percent growth from acquisitions. This was offset by a 0.7-percent decrease from fewer trading days and a 4.2-percent negative currency translation effect. Specific information for the U.S. was not included in the nine-month overview.

In Europe, sales came in 8.4-percent higher than 2012, including a 7.5-percent organic increase and 2.9-percent growth from acquisitions. This was offset a bit by a decrease of 0.8-percent from fewer trading days and a 1.2-percent negative currency translation effect.    

“The trading outlook for the remainder of the year is for continued organic sales growth,” officials write.

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