D’Ieteren Group Publishes 2023 Report, Cites Belron as Main Money Maker

The Belgian company D’Ieteren Group, which owns Belron, published its 2023 annual report on April 29. Belron is the parent company of United States-based Safelite.

D’Ieteren Group reports strong financial performance in 2023, with almost $12.5 billion in sales and about $1.3 billion in profit before tax. Belron made 53% of that profit.

Francis Deprez, CEO of D’Ietren Group, released a statement with the report. He said 2023 was the first year all of the company’s brands were part of the group for the whole year.

“Belron continues to be a major part of our D’Ieteren Group investments,” he said. “At the same time, our four other businesses combined represented a share of almost half the group’s profit before tax (47% to be precise) in 2023, which is a great achievement compared to just a couple of years ago.”

In addition to Safelite, Belron owns the Autoglass, Carglass, Lebeau Vitres d’autos, Speedy Glass, O’Brien, AutoGlass and Smith&Smith brands. The company operates in 39 countries.

According to the report, Belron had a good 2023 despite inflation and “a tight labor market.” It made almost $6.5 billion in sales in 2023, an 8.5% year-over-year increase. The company attributes this to “strong organic growth, an increasing penetration rate of recalibration and small bolt-on acquisitions.”

D’Ieteren Group reports Belron performed 12.8 million auto glass repair and replacement jobs in 2023, a 2.1% year-over-year increase. Three million jobs involved advanced driver assistance systems (ADAS) recalibration, 23% more than in 2022.

The report also says that the rise in ADAS technology is becoming a significant source of revenue for Belron. According to the report, Belron has invested in “adequate recalibration tools, processes and training” to keep drivers safe.

D’Ieteren Group reported non-financial progress for Belron in 2023 as well. Carlos Brito became the company’s CEO in March 2023, and according to D’Ieteren Group, there was “significant progress” in technician turnover and capacity rates, particularly in the United States and Germany.

“Belron continued to make significant progress in returning used vehicle glass for recycling, with 97% of glass waste recycled in 2023,” Deprez said.

Belron reported receiving an NPS (Net Promoter Score) score of 84.7 for customer satisfaction. After the company received a slightly lower score of 82.2 in 2022, Belron started the Voice of the Customer program in 2023 to identify areas for improvement. This program looked at surveys plus online reviews and social media posts.

According to the D’Ieteren report, Belron prioritizes understanding the customer experience and making more improvements in 2024.

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