D'Ieteren Releases 2012 Half-Year Financial Results for Belron
August 31, 2012

by Katie O'Mara, komara@glass.com

Belron's external sales are down 4.6 percent and total worldwide repair and replacement jobs are down 9.6 percent for 2012, when compared with 2011, according to the most recent financial report released by the company's Belgium-based parent company, D'Ieteren.

According to the report, unusually mild winter weather and weak economic trading conditions are the leading causes for the decline in sales and jobs in 2012.

"The sales for the period show that the market is still challenging, but the volume trend is gradually improving from that of the beginning of the year. Belron is continuing to increase market share, however not sufficiently to completely offset the current market declines," reads D'Ieteren's report.

D'Ieteren reported so far in 2012, 55 percent of the company's jobs are mobile and that 71 percent of the calls are replacement jobs, while 29 percent are repair jobs.

The company maintains a positive outlook for the rest of 2012 and intends to begin restructuring certain parts of the business.

"The outlook for the remainder of the year remains challenging with continuing pressure expected from the economic conditions that will result in overall yearly sales being lower than last year. However, cost savings resulting from the various restructuring activities are now beginning to be realized. Belron remains committed to delivering outstanding service to its customers, its insurance and fleet partners and improving the operational efficiency," reads the report.

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