D'Ieteren announces year-end results for 2009
Read information about the D'Ieteren results for the year ended 31 December 2009.
Current result before tax, group's share, EUR 214.2 million, up a remarkable 11.7% (up 10.5% at constant perimeter, i.e. excluding the net impact of the additional interest acquired in Belron).
Automobile Distribution and Corporate activities: EUR 42.9 million, down 29.2% (down 23.6% excluding the financial charge related to the additional interest acquired in Belron). Impact of declining new car market and lack of availability of smaller models in first half of the year mitigated by cost reductions and tight management of capital employed
Vehicle Glass: EUR 150.4 million, up 38.5% (up 33.2% excluding the additional interest acquired in Belron), driven by exceptional organic sales growth – fuelled by weather conditions and successful marketing activities – and strong cost control
Car Rental: EUR 20.9 million, down 7.1%; very strong performance as the strategic positioning and the rigorous execution of the plan for recession mitigated the declining markets
Group's share in the result for the period1: EUR 158.5 million (2008: EUR 32.2 million, after a noncash impairment charge on the investment in Avis Europe).
Significant reduction in net debt of the three activities.
Proposed gross dividend: EUR 3.25 per share, up 8%.
To find out more you can read the full press release.