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D'Ieteren Q1 sales up 10.4 pct, keeps 2015 outlook
May 28, 2015 / 6:47 AM / 3 years ago

D'Ieteren Q1 sales up 10.4 pct, keeps 2015 outlook

BRUSSELS, May 28 (Reuters) - Belgian car importer D‘Ieteren reported on Thursday that its consolidated sales grew by 10.4 percent in the first quarter, as it sold more expensive cars and its windscreen repair unit Belron benefited from the weaker euro.

D‘Ieteren, which in Belgium imports cars of the Volkswagen group, said it slightly lost market share in the first quarter but delivered more vehicles to its distributors and the cars it sold, such as Porsches, were more expensive.

D‘Ieteren kept its outlook for its current result before tax, group’s share, to be up in excess of 10 percent in 2015.

Belron, a windscreen repair service known in different markets as Autoglass, Carglass or by other names, said business in Europe was down 2.3 percent as it stopped repairing windscreens of large commercial vehicles in Germany and an Italian insurer to end collaboration with Belron.

Outside Europe, a harsh U.S. winter buoyed sales, amplified by a stronger dollar, while business in China and Brazil fell.

D‘Ieteren added that it had appointed a new Chief Financial Officer, 54-year-old Arnaud Laviolette who previously worked for ING and Belgian investment vehicle Groupe Bruxelles Lambert (GBL). Laviolette will start in September.

Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop

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