Belron Parent D'Ieteren Reports Total Number of Auto Glass Repair and Replacement Jobs is Up 17 Percent for First Half of 2010; Plans to Begin Operating in Russia
August 27, 2010

Belron parent company D’Ieteren reported today that its total number of repair and replacement jobs is up 17 percent for the first half of the year—for a total of 6.3 million, up from 5.4 million in the first half of 2009.

Belron's First Half-Year Results
(in millions of U.S. dollars except when noted otherwise)

 

2009

2010

Percent Change

Total Jobs (in million units)

5.4

6.3

+16.7

External Sales

$1,572.8

$1,884.5

+19.8

Total Operating Results

$150.0

$172.2

+14.7

The company also reports a 19.8 percent increased in sales, which totaled $1,884.5 million U.S. dollars (1,484. million Euros), up from $1,572.8 million U.S. dollars (1,239 million Euros) in 2009. The sales consisted of 11 percent organic increases, a 3 percent trading days adjustment, 2 percent acquisitions and 4 percent currency translations.

Belron reports an operating result for the first half of 2010 of $172.2 million U.S. dollars (135.4 million Euros), up 14.7 percent from the first half of 2009, during which the company’s total operating result was $150.0 million U.S. dollars (118 million Euros).

The company attributes the increases to “favorable weather conditions and successful marketing activities.”

In Europe, Belron experienced 20 percent sales growth for the first half of the year, made up of 14 percent organic growth, 3 percent trading days adjustment, 2 percent acquired growth (due to acquisitions in Turkey and France) and a positive currency impact of 1 percent due to the stronger British pound, according to the D’Ieteren report. Though the company also cites favorable weather in Europe as a benefit to its half-year results, other factors are noted as well.

“The sales growth also was delivered through increased marketing activities and by maintaining close relationships with insurers and fleet partners,” writes D’Ieteren.

Outside Europe, Belron also reports a 20 percent increase in sales—though the detailed breakdown for its divisions through the world were not released. The growth outside Europe breaks down to 7 percent organic, 3 percent trading days adjustment and 7 percent currency translation. The D’Ieteren report says the organic growth “reflects a continued investment in marketing activities and key account relationships [that] have enabled the business to grow despite challenging marketing conditions.” The acquired growth is related to the company’s purchase of the auto glass assets of IGD Industries in late 2009.

In addition, as part of the report, the company announced that Belron is “initiating” the opening of a new operation in Russia. Further details have not been released about the opening.

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