D'Ieteren Group

DIE

Equity

ISIN BE0974259880 / Valor 12194716

Euronext - Euronext Brussels (2025-03-17)

EUR 161.20+3.80%

D'Ieteren Group
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About company

D'Ieteren Group is a diversified company with interests in vehicle distribution, retail, and aftermarket parts distribution. The company recently acquired a 40% stake in TVH Parts, a global leader in aftermarket parts for material handling, construction & industrial, and agricultural equipment. Additionally, D'Ieteren Group acquired Parts Holding Europe (PHE), a Western European leader in independent distribution of vehicle spare parts. The company also operates assembly plants for vehicle chassis and bodywork, further expanding its presence in the automotive industry. D'Ieteren Group has separated its vehicle distribution and retail business into a new subsidiary, D'Ieteren Automotive, while maintaining a strong presence in the aftermarket parts distribution sector.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Growth

In the first half of 2024, D'Ieteren Group reported consolidated sales under IFRS of €4,303.0 million, marking a 5.3% year-over-year increase. When considering the Group's share, sales amounted to €6,292.0 million, reflecting a 5.8% growth compared to the same period in 2023. This growth was primarily driven by the performance of D'Ieteren Automotive, PHE, and TVH.

Profit Before Tax

D'Ieteren Group's adjusted profit before tax, Group's share, reached €585.5 million in the first half of 2024, representing a 6.4% increase from €550.2 million in H1-2023. This improvement was supported by the steady growth of its key business segments, despite a decline in Belron's adjusted profit before tax due to additional financial charges.

Net Result

The Group's share in the net result for the first half of 2024 was €166.6 million, down from €285.9 million in H1-2023. However, the adjusted net profit, Group's share, increased to €424.5 million, compared to €381.4 million in the previous year, reflecting the Group's strategic focus on its core businesses and improved operational efficiencies.

Cash Position

As of the end of June 2024, D'Ieteren Group's net cash position for the "Corporate & Unallocated" segment stood at €1,059.0 million, or €786.6 million excluding inter-segment loans. This represents a significant improvement from €934.9 million at the end of June 2023, highlighting the Group's strong cash generation capabilities, particularly from Belron, D'Ieteren Automotive, PHE, and TVH.

Outlook for 2024

For the full year 2024, D'Ieteren Group maintains its guidance of mid- to high-single-digit growth in its adjusted profit before tax, Group's share. This outlook is based on continued growth from its business segments and assumes stable geopolitical conditions and foreign exchange rates. The Group anticipates further improvements in operating margins and strong free cash flow generation across its portfolio companies.

Summarized from source with an LLMView Source

Key figures

-18.3%1Y

21.8%3Y

296%5Y

Performance

33.5%1Y

32.5%3Y

37.5%5Y

Volatility