Belron Seeing an Upswing For Half of 2018

Belron has grown for the first half of 2018, according to the company’s first half financial reports released last week. Its combined sales reached $2,274.95 million, up by 8.3 percent. The company’s consolidated result before taxes jumped nearly 6 percent, or $77.06 million compared to its results at the same time last year. According to Belron, its strong adjusted operating profit growth is partially offset by higher net financial charges that were made after its refinancing in 2017’s final quarter.

Belron has also been reaching more customers within 2018. Last year the company had 8.3 million consumers and now, one year later, it has 9.2 million consumers. That represents an increase of 11.3 percent year-over-year. Most of its customers (6.84 million) were from their Vehicle Glass Repair and Replacement (VGRR) division. The company attributes this increase partially to weather.

“This positive trend was partially due to favorable winter conditions in both Europe and North America but also reflects share gains in both continents. Belron continued to expand its claim management activities with 2.16 consumers served in H1 2018,” the company said its release.

European sales saw a drastic increase of 13.7 percent, meanwhile, sales increased on a smaller scale state side by 3.6 percent.

“The USA continues to increase its market share and delivered record sales in H1 2018. The acquired growth primarily relates to the completion of the Laser Group acquisition in Australia and New Zealand in March 2018,” the company said in its release.

In June 2018, Belron opened a new distribution center in Belgium which is now operational. It continued to make progress with its acquired businesses across Europe from 2017.

“Previously Belron aimed at a moderate organic sales growth in FY 2018, it now expects close to a 10 percent growth,” the company said in its release.

To see the full report, click here.

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