D’Ieteren Group recently presented its full-year 2022 results, which include financial data from Belron, owner of Safelite AutoGlass. With Belron’s total sales increasing by 20% to nearly $6 billion and by 20.7% from continuing operations, the company saw a “slightly” better operating margin of 18.2% despite inflationary pressures and supply chain issues.
According to the report, the increase in Belron’s total sales was driven by 3.6% volume growth in vehicle repair and replacement prime jobs, a favorable price/mix effect and “positive contributions” from the Advanced Driver Assistance Systems (ADAS) sector. Belron’s North America division, which comprises 60% of sales, saw sales from continuing operations increase by 28.7%. D’Ieteren attributes that increase to 16% organic growth, 1% acquisitions and positive currency translation of 11.7%.
The company’s Eurozone division, which makes up 27% of the business, saw sales from continuing operations grow by 9%, according to the financial report. The sales growth was comprised of a 7.2% increase in organic sales, with 1.6% coming from acquisitions and 0.1% from currency translation. The rest of the world, accounting for 13% of the business, saw sales from continuing operations increase by 13.7%.
Belron also experienced a 3.6% year-over-year increase from 12.2 million to 12.6 million with respect to its number of vehicle repair and replacement prime jobs.
Looking ahead, D’Ieteren anticipates that Belron will experience high single-digit organic sales growth thanks to price/mix, ADAS penetration and VAPS contributions in 2023.