D'Ieteren Group

DJD

Equity

ISIN US23292C1027 / Valor 112318734

Deutsche Boerse AG (2024-09-17)

EUR 97.00-3.00%

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

Net Cash Position

D'Ieteren Group's net cash position at the end of June 2023 stands at €934.9 million (€612.0 million excluding inter-segment loans). This strong cash position is attributed to financial income and operational performance across its segments.

Free Cash Flow

For the first half of 2023, D'Ieteren Group's Corporate & Unallocated adjusted free cash flow, Group’s share, reached €186.1 million. This was primarily driven by Belron and the sale of Mondial Pare-Brise at PHE, alongside positive operational developments, despite a significant increase in working capital at D’Ieteren Automotive due to delivery bottlenecks.

Upward Revision of Profit Guidance

Following a strong performance in the first half of 2023, D'Ieteren Group has revised its guidance slightly upwards. The Group now expects its adjusted profit before tax, Group’s share, to be above €960 million for the full year, including additional interest costs linked to Belron’s term loan issuance in April 2023.

Operational Performance

At Belron, the full-year 2023 margin is expected to improve by more than 200 basis points compared to the previous year. This positive outlook is part of the Group's overall strong operational performance across its businesses.

Automotive Market Expectations

D'Ieteren Automotive anticipates the Belgian market to record 480,000 new registrations in 2023. However, the volumes will remain high but constrained by the capacity to deliver vehicles, with inventory bottlenecks expected to persist until the first quarter of 2024.

Summarized from source with an LLMView Source

Key figures

21.3%1Y

%3Y

%5Y

Performance

27.0%1Y

26.8%3Y

26.8%5Y

Volatility