Belron’s sales rose 4.1 percent in 2018’s first-quarter trading update, the company reported this week. That figure represents a 9.6 percent organic increase. The company said its consumer base also grew to 4.2 million served. That’s an increase of 7.2 percent compared to 2017’s first quarter. Market share gains and positive mix development aided by favorable weather contributed to the sales increase.
“The business continues to innovate, with improvements to the operational performance and its key account offering, as well as expansion into new services,” the company said in a release.
Belron, which trades under more than 10 major brands including Safelite, Autoglass and Carglass, manages auto glass along with other insurance claims for its customers.
In Europe, sales increased by 10.3 percent. This number includes a 6.4 percent organic increase. Growths in market share and higher pricing, a result of product complexity, contributed to the organic sales increase. Meanwhile, outside of Europe sales decreased slightly by 1.5 percent. A 0.2 percent growth from acquisitions in addition to an 11.8 percent organic increase helped offset the negative currency impact outside of Europe.
“Belron’s performance was driven by market share gains made possible by sustained investments in marketing, key account relationships and service levels,” the company said in a release.
The company cited sales and adjusted operating results having reached, respectively EUR 3.5 billion ($4 billion) and EUR189.8 million ($220 million) in 2017’s fiscal year as a milestone.
Belron is also expanding its services to focus on home repair as well as auto glass. The company is also planning for moderate organic sales growth with higher adjusted operating results for the remainder of the year. Its adjusted result before tax, group share is expected to grow into the high single digits. This is based on average exchange rates this year that are in line with rates from last year. The overall improvement is expected to reflect efficiency initiatives along with sales growth.