D’Ieteren releases financial results

  Company financial news

D’Ieteren’s financial reports for full-year 2014 include an increase of 1.3% for full-year sales for the automotive glass repair and replacement division, with sales at USD 3.22 billion (EUR 2.88 billion) in full-year 2014, compared to USD 3.18 billion in (EUR 2.84 billion) in 2013.

Companyfinancialresults
D’Ieteren has released its financial reports for full-year 2014
D’Ieteren has released its financial reports for full-year 2014. The company’s full-year sales for the automotive glass repair and replacement division are up 1.3%. D’Ieteren is the parent company of Belron, which owns Safelite.
Belron’s sales came in at USD 3.22 billion (EUR 2.88 billion) in full-year 2014, compared to USD 3.18 billion in (EUR 2.84 billion) in 2013. The 1.3% increase includes a 2.2% increase from acquisitions, partially offset by a 0.5% organic decrease, a 0.3% negative currency translation and an adverse 0.1% trading day impact.
Belron’s profits before taxes were USD 117.25 million (EUR 104.7 million), down 19.8% over last year.
The automotive glass repair and replacement division reports 11 million AGRR jobs were completed for full-year 2014, compared to 10.8 million in the previous year.
US sales increased by USD 63.76 million (EUR 57 million), according to the company’s presentation.
European sales were down by 5.2%, including an increase of 1.8% from acquisitions due to the Spanish Guardian acquisition at the end of December 2013 and additional DoctorGlass franchisee acquisitions in Italy, and a positive currency impact of 0.6% due to a stronger British Pound. These more than offset a decrease in organic sales of 7.4%, which Belron says was due to warm winter weather in Northern Europe and an adverse 0.2% trading day impact, officials report.
Overall, the European sales were down USD 159.95 million (EUR 143 million). Officials say the European dec...





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