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Tag Archives: D’Ieteren
D’Ieteren has seen consistent growth for the first half of 2018, according to the company’s second half financial reports released today. It’s adjusted result before tax group’s share increased by 17.8 percent. The company’s adjusted result before tax, group’s share … Continue reading
D’Ieteren announced it has signed a definitive agreement with Clayton, Dubilier & Rice (CD&R) regarding a partnership investment in Belron, parent company of Safelite AutoGlass. Under the agreement, CD&R will acquire 40-percent ownership interest in the Belron group, and D’Ieteren … Continue reading
D’Ieteren and Clayton, Dubilier & Rice Enter Exclusive Discussions Regarding Partnership Investment in Belron
D’Ieteren and Clayton, Dubilier & Rice (CD&R), a global private investment firm, announced that they have entered into exclusive discussions under which CD&R-managed funds would acquire a 40-percent ownership interest in the Belron group. Under the proposed agreement, D’Ieteren and … Continue reading
Belron has announced the acquisition of 80 percent of the shares of Maisoning Group, a French company providing home repair services (repair, renovation and emergency repairs) to both B2C and B2B customers. This acquisition is fully aligned to Belron’s service … Continue reading
Belron continues to face a declining market in a number of developed economies, says Belron CEO Gary Lubner in D’Ieteren’s 2016 annual report. This, he says, is due to a reduced number of auto glass repairs and replacement due to … Continue reading
The 2016 financial statement released by the Belgian company s.a. D’Ieteren n.v., (D’Ieteren) on Monday provides a fascinating look at its diverse holdings, including its vehicle glass division, known as Belron. Belron also owns Safelite AutoGlass in the United States. According to the report, Belron serves 33 countries worldwide through its 2400 branches and 10,000 mobile vans. It trades under more than 10 major brand names including Carglass® and Autoglass®, as well as Safelite AutoGlass.
D’Ieteren has reported a strong financial year in both sales and growth. Belgium-based D’Ieteren owns Belron, which in turn owns Safelite AutoGlass in the U.S. The company credits its progress to market trends, to a Belron gain in market share … Continue reading
Belgium-based D’Ieteren is acquiring a 41 percent stake in Milan-based Moleskine—a developer and seller of specialized notebooks, as well as writing, travel and reading accessories—and plans to launch a public takeover offer for the remaining shares.
Belron’s organic sales growth of 4.6 percent was mainly driven by the United States, the United Kingdom and Germany, according to D’Ieteren’s half-year update. Belgium-based D’Ieteren owns Belron, which in turn owns Safelite AutoGlass in the U.S. Belron’s sales were … Continue reading
With Britain slated to leave the European Union (EU) following a national referendum popularly known as Brexit, much uncertainty remains. This is particularly true for London-based companies such as Belron, which has both a European and global presence.
Belron faces declining market conditions in many countries, though, a second strong winter in the United States in 2015 helped to bolster business, says Gary Lubner, CEO of Belron, in D’Ieteren’s annual 2015 report.
“2015 was a much better year for Belron,” according to D’Ieteren’s 2015 financial report. Belron’s sales were up 13.2 percent, including a 4.7 percent organic increase and an 8.1 percent positive currency translation impact. Belgium-based D’Ieteren owns Belron, which in turn owns Safelite AutoGlass in the United States.
More than 30 people have died and dozens more injured in terrorists attacks carried out at an airport and metro station in Brussels, Belgium, today. This news hits home for the AGRR industry because the city is headquarters to D’Ieteren, parent company to Belron, which in turn owns Safelite AutoGlass in the United States.
Repair and replacement jobs for Belron increased by 3.2 percent to 10.9 million in 2015, primarily due to a harsh winter in the United States which saw more replacements versus repairs, D’Ieteren management said in their annual report. D’Ieteren is parent company of Belron, which in turn owns Safelite AutoGlass (SAG) in the United States.
Belron has teamed up with Advisia Investimentos to form a joint venture in Brazil. Under the agreement, the automotive glass repair and replacement unit of D’Ieteren sold 60 percent of its investment in Carglass Brazil to Advisia for $1.08 million USD (€1 million in Euros).
“All cars now are going to have these Advanced Driver Assistance Systems [ADAS] and if you don’t get the calibration right, it has pretty serious consequences and so we are obviously speaking to insurance companies around the world. We are now equipped worldwide to be able to deliver ADAS calibration,” said Gary Lubner, CEO of Belron during an investor day conference for D’Ieteren held last week in London. D’Ieteren is parent company to Belron and United States-based Safelite.
D’Ieteren, which owns Belron (parent of Safelite AutoGlass), has launched a website devoted to Volkswagen emissions questions for its auto distribution division in Belgium.
D’Ieteren’s management is keeping a close eye on the development of Volkswagen’s emissions scandal. D’Ieteren, which owns Belron (parent of Safelite AutoGlass), also owns an auto division which distributes Volkswagen, Audi, Seat and Skoda vehicles throughout Belgium.
D’Ieteren, parent company to Belron and Safelite, reported six-month consolidated results before taxes for its automotive repair and replacement business reached $90.3 million USD (80.4 million EUR), up 60.2 percent over the prior year, mostly due to increased sales in the United States, tight cost control and the impact of restructuring in Europe, according to the company’s report.
D’Ieteren today reported the company’s first quarter 2015 results. The publicly traded Belguim-based owner of Belron, (the parent of Safelite AutoGlass in the United States) reported that the number of automotive glass repair or replacement jobs it completed worldwide were down 4 percent to 2.6 million. Organic growth for the first quarter this year was flat with only a .9 percent increase over the same period in 2014. Total first quarter 2015 sales for Belron are 10.2 percent higher than the prior year, mostly due to currency exchange rates. The 10.2 percent growth included the 0.9 percent of organic growth, 0.2 percent from acquisitions and 10.1 percent from positive currency translation effect. This was partially offset by a 1.0 percent decline due to one less trading day in the first quarter of 2015 than in 2014.
D’Ieteren, parent company to Belron and Safelite, has released its 2014 annual report with a Belron chapter titled “Responding to Market Challenges.” A portion of the 166-page report, including a Q&A section with Gary Lubner, Belron’s CEO, is devoted to the business trends for the company’s automotive glass repair and replacement business, which includes Safelite AutoGlass.
D’Ieteren released its financial reports for full-year 2014 today. The company’s full-year sales for the automotive glass repair and replacement division are up 1.3 percent. D’Ieteren is the parent company of Belron, which owns Safelite.
After an annual review of goodwill and intangible assets by D’Ieteren, it is reporting a non-cash impairment charge for Belron of $121.9 million USD (€98 Euros), which “will be necessary in relation to the activities of Belron in the United Kingdom and in China.”
D’Ieteren, parent company to Safelite and Belron, has purchased 17,313 treasury shares at an average price of €28.14 in Euros per share on Euronext Brussels from October 14-22, 2014.
D’Ieteren, parent company to Belron and Safelite, reports that six-month sales for the automotive glass repair and replacement division are down 0.5 percent. The “extreme winter weather in the U.S. and market share gains in a majority of countries,” bolstered results. However, an “exceptionally mild winter weather in Northern Europe” had a negative impact.
D’Ieteren, parent company to Belron and Safelite, reported that first quarter automotive glass repair and replacement sales were one percent higher over the same period of 2013 largely due to a 3.1 percent organic increase and 2.2 percent growth from acquisitions. Sales were negatively impacted by “unexpected unfavorable weather conditions in Northern Europe, which resulted in temporary overcapacity in those geographies,” officials wrote in the company’s report.
Maurice Périer, director since 1978 and deputy chairman of the D’Ieteren Board of Directors since 1993, has reached the age limit of 75. As a result, he will resign as a director on the date of the next Ordinary General Meeting on June 5, 2014. By unanimous decision, the Board of Directors has decided to appoint Nicolas D’Ieteren, 38, and Olivier Périer, 42, as deputy chairmen of the Board, effective June 5, 2014.
In a presentation earlier this year available on the web, D’Ieteren’s management delved into how Belron contributes to the parent company. The company has two main divisions—Belron and D’Ieteren Auto. Belron, its vehicle glass repair and replacement business, which includes Safelite, contributes 52 percent of sales to the parent company, while its operating result represents 79 percent of business. Ninety-four percent of the company’s staff falls into the Belron category—25,645 individuals.
D’Ieteren intends to acquire the Volkswagen, Audi and Seat dealerships of the Claessens group, located in Wilrijk, as well as to acquire a controlling interest in the Volkswagen, Audi and Škoda dealerships of the ACM group, located in Mechelen. Both dealer groups are located in Antwerp, Belgium.
The D’Ieteren Board of Directors has appointed Pierre-Olivier Beckers by co-optation as an independent director. The ratification of this appointment is subject to the approval of the shareholders at the ordinary general meeting on June 5, 2014. D’Ieteren is the parent company for Belron and Safelite.