D’Ieteren: Completion of the acquisition of 40% in TVH Parts

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October 1, 2021 – HST Parts

Completion of the acquisition of a 40% stake in TVH Parts

The D’Ieteren Group is pleased to announce that, following the press release of July 9, 2021, it has completed the acquisition of a 40% stake in TVH Parts, one of the world’s leading independent parts distributors. spare parts related to handling, construction and industrial and agricultural equipment.

As previously announced, the provisional purchase price corresponds to an amount of € 1,172 million to be financed from the surplus cash of the D’Ieteren Group, valuing TVH Parts at an Enterprise Value of € 3,650 million. The final purchase price will then be determined based on the actual levels of net financial debt and working capital of TVH Parts at closing.

TVH Parts will be consolidated by the equity method in the accounts of the D’Ieteren Group as of this date.

Group profile

Existing since 1805, and through family generations, the D’Ieteren Group seeks growth and value creation by pursuing a long-term strategy for its companies and by actively encouraging and supporting them to develop their position in their industry and their geographies. The Group currently has the following activities:

  • Belron (50.01% of economic rights, totally diluted) has a clear objective: “to make a difference by solving people’s problems with real attention”. It is the world leader in repair, replacement and recalibration of ADAS vehicle glass and operates in 40 countries, through wholly owned companies and franchises, with leading brands in the market, notably Carglass® , Safelite® and Autoglass®. In addition, Belron manages vehicle glazing and other insurance claims on behalf of insurance customers. Sales and adjusted operating income reached € 3,899m and € 583.1m, respectively, during FY20.
  • D’Ieteren Automobile (100% owned) distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Cupra and Porsche vehicles in Belgium. It has a market share of over 23% and 1.2 million vehicles in circulation. Its economic model is evolving towards improving the lives of citizens with fluid, accessible and sustainable mobility. Sales and adjusted operating income reached € 3,216 million and € 98.9 million, respectively, during FY20.
  • HST parts (40% owned), is one of the world’s leading independent distributors of spare parts for material handling, construction, industrial and agricultural equipment. It operates in 26 countries around the world. It has a unique operating model and has a clear goal of keeping customers in business and growing.
  • Moleskine (100% owned) is an upscale and ambitious lifestyle brand that develops and sells iconic branded notebooks and writing, travel and reading accessories through a global multi-channel platform. Sales and adjusted operating income reached € 102.3m and € 1.5m, respectively, during FY20.
  • D’Ieteren Immo (100% owned) includes the Belgian real estate interests of the D’Ieteren Group. It owns and manages around 30 properties which generated € 19.5 million in net rental income during FY20. It is also pursuing investment projects and carrying out studies for possible site renovations.




Contact

Francois Deprez, Chief Executive Officer
Arnaud Laviolette, Financial director

Stéphanie Voisin, Investor Relations Phone: + 32 (0) 2 536.54.39
E-mail: [email protected] – Website: www.dieterengroup.com

Disclaimer

D’Ieteren SA published this content on 01 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 01 October 2021 02:11:04 PM UTC.

Public now 2021

All the news of the IETEREN GROUP
Sales 2021 3,792 million
4 399 million
4 399 million
Net income 2021 362 million
420 million
420 million
Net cash position 2021 1,629 million
1,890 million
1,890 million
PER 2021 ratio 19.1x
Yield 2021 0.99%
Capitalization 6,771 million
7,847 million
7 855 million
VE / Sales 2021 1.36x
VE / Sales 2022 1.26x
Number of employees 1,730
Free float 37.9%

Duration :

Period:

D'Ieteren Group Technical Analysis Chart |  MarketScreener

Trends in technical analysis GROUPE D’IETEREN

Short term Mid Road Long term
Tendencies Bearish Bullish Bullish

Evolution of the income statement

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Average consensus TO BUY
Number of analysts 2
Last closing price

€ 127.00

Average price target

€ 166.00

Spread / Average target 30.7%


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