D'Ieteren: H1 adjusted earnings down 41%
(CercleFinance.com) - On Thursday evening D'Ieteren announced adjusted consolidated pre-tax income, group share, of 103.
9 million euros for the first half of 2020, down 41.2% on a comparable basis (54.79% stake in Belron).
Consolidated sales under IFRS declined by 24.9% to 1,510.8 million euros, excluding Belron. Combined sales (including Belron at 100%) amounted to 3,364.1 million euros (-18.4% compared to H1 2019).
"After the trough of April our activities have progressively recovered and have sequentially improved on a weekly basis since then," said the Belgian automobile distribution and glass repair group. However, it is not providing any quantified forecasts for 2020 given uncertainties around the Covid-19 pandemic.
Ignoring the fall, the market seems to be focusing on these improvements; the share is up around 5% in early trading in Brussels.
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9 million euros for the first half of 2020, down 41.2% on a comparable basis (54.79% stake in Belron).
Consolidated sales under IFRS declined by 24.9% to 1,510.8 million euros, excluding Belron. Combined sales (including Belron at 100%) amounted to 3,364.1 million euros (-18.4% compared to H1 2019).
"After the trough of April our activities have progressively recovered and have sequentially improved on a weekly basis since then," said the Belgian automobile distribution and glass repair group. However, it is not providing any quantified forecasts for 2020 given uncertainties around the Covid-19 pandemic.
Ignoring the fall, the market seems to be focusing on these improvements; the share is up around 5% in early trading in Brussels.
Copyright (c) 2020 CercleFinance.com. All rights reserved.