D'Ieteren announces 2010 half-year results

Current result before tax, group's share, of EUR 177.4 million, up 65.3% (+52.6% at constant consolidation perimeter, i.e. excluding the net impact of the additional interest acquired in Belron) thanks to the remarkable performance of the three activities:

• Automobile Distribution and Corporate activities: EUR 51.4 million, up 44.8% (+67.6% excluding the financial charge of the additional interest acquired in Belron), thanks to the sustained growth (+17.2%) of the Belgian car market in the first half and the total market share growth of the makes distributed by D'Ieteren Auto.
• Vehicle Glass: EUR 126.0 million, up 57.1% (+29.9% excluding the net impact of the additional interest acquired in Belron), thanks notably to a strong sales growth, as a result of favourable weather conditions and an outstanding capability to respond.
• Car Rental: first half at break-even (H1 2009: EUR -8.4 million) thanks to the 4.5% average rental revenue per day increase on a constant currency basis, and to the continued cost control.

Group's share in the result for the period1 up 70.0% to EUR 136.0 million.

Expected increase in current consolidated result before tax, group's share, in 2010, above 25% (at constant consolidation perimeter: above 20%; previous forecast: +15%).

To find out more read the full version of the press release.