Belron’s First-Quarter Jobs Down by 11 Percent
May 11, 2012
Belron saw an 11 percent decrease in repair and replacement jobs worldwide for the first quarter of the year, according to the latest financial report released by its parent company, D’Ieteren. The company completed a total of 2.6 million repair and replacement jobs during the quarter.
The company’s sales were also down 8.1 percent when compared with 2011, “due to an 10.6 percent organic decrease partially offset by a 0.8 percent acquired growth and a 1.7 percent positive currency translation effect,” according to the report.
In Europe, the company’s sales were down by 16.5 percent for the quarter, consisting of a 17.7 organic decrease partially offset by a 0.8 percent acquired growth and a 0.4 percent positive translation effect. Company officials have attributed the drop to market declines in the majority of the countries in which it operates in Europe and exceptionally mild weather since last November, along with the weak economic environment.
Outside Europe, sales growth during the first quarter was 3.5 percent, consisting of a 0.8 percent organic decline offset by growth from acquisitions of 0.7 percent and a 3.6 percent positive translation effect of the U.S. dollar. Company officials say the small organic decline was due to the exceptionally warm U.S. winter.
Specific numbers for the North American market were not released.
D’Ieteren officials expect a challenging market for the rest of the year, “although less severe than in the first quarter.”
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