Brief: D'Ieteren FY Group Adj. Profit Before Tax Up 52% At Eur 493.4 Mln

D'Ieteren SA

08/03/2022 16:45

March 8 (Reuters) - D'IETEREN GROUP NV  IETB.BR :  
    * FY CONSOLIDATED IFRS OPERATING RESULT AT EUR 85.8 MILLION,
UP
FROM EUR 5.8 MILLION IN 2020
    * FY CONSOLIDATED SALES UNDER IFRS AMOUNTED TO EUR 3.36
BILLION
(+1.3% YOY)
    * FY ADJUSTED CONSOLIDATED PROFIT BEFORE TAX GROUP SHARE AT
EUR
493.4 MILLION, UP BY 52.0% VERSUS 2020
    * IN 2021, GROUP'S SHARE IN NET RESULT EQUALLED EUR 256.5
MILLION
VERSUS EUR 138.8 MILLION IN 2020
    * NET CASH POSITION OF “CORPORATE & UNALLOCATED” EUR 1,087.5
MILLION AT END 2021 VERSUS EUR 1,455.1 MILLION AT END 2020
    * PROPOSES GROSS ORDINARY DIVIDEND OF EUR 2.10 PER SHARE
    * FOR 2022, EXPECTS ADJUSTED CONSOLIDATED PROFIT BEFORE TAX
GROUP
SHARE TO GROW BY AT LEAST 25% VERSUS 2021
    * IMPROVEMENT IN 2022 TO BE DRIVEN BY FY CONTRIBUTION FROM
TVH
PARTS AND CONTINUED SOLID GROWTH FROM ALL BUSINESSES
    * OUTLOOK 2022 ASSUMES NO FURTHER ESCALATION IN GEOPOLITICAL
TENSIONS NOR NEW COVID-RELATED RESTRICTIONS
    * OUTLOOK 2022 BELRON: LOW DOUBLE-DIGIT ORGANIC SALES
GROWTH,
ADJUSTED. OPERATING RESULT GROWTH SLIGHTLY ABOVE ORGANIC SALES
GROWTH
    * OUTLOOK 2022 BELRON: ADJUSTED. FREE CASH-FLOW TO REMAIN
HIGH,
COMPARABLE TO 2021, WITH BETTER OPERATIONAL RESULTS
    * OUTLOOK 2022 TVH PARTS: TOP-LINE GROWTH TO REMAIN DOUBLE
DIGIT,
ADJUSTED. OPERATING RESULT ABOVE EUR 230 MILLION
    * OUTLOOK 2022 D’IETEREN AUTOMOTIVE: STRONG ORDER BACKLOG TO
BE
TRANSLATED INTO DELIVERIES OVER TIME ONCE SUPPLY CHAIN ISSUES
ARE SOLVED
    * OUTLOOK 2022 D’IETEREN AUTOMOTIVE: PRODUCTION VOLUMES ON
CERTAIN
MODELS ARE EXPECTED TO BE NEGATIVELY IMPACTED BY WAR BETWEEN
RUSSIA AND UKRAINE
    * OUTLOOK 2022 D’IETEREN AUTOMOTIVE: ADJUSTED. OPERATING
RESULT IS
EXPECTED TO GROW BY AROUND 15%
    * OUTLOOK 2022 D’IETEREN AUTOMOTIVE: FCF BEFORE ACQUISITIONS
IS
EXPECTED IN DECLINE VERSUS. 2021
    * OUTLOOK 2022 D’IETEREN AUTOMOTIVE: FREE CASH-FLOW SHOULD
REMAIN
POSITIVE
    * OUTLOOK 2022 MOLESKINE: SALES EXPECTED TO GET CLOSER TO
PRE-COVID LEVELS, GROW BY AT LEAST 25% YOY
    * OUTLOOK 2022 MOLESKINE: ADJUSTED. OPERATING RESULT SHOULD
MORE
THAN DOUBLE COMPARED TO EUR 12.3 MILLION ACHIEVED IN 2021

Source text for Eikon:  urn:newsml:reuters.com:*:nNDL6wLk4q
Further company coverage:  IETB.BR 

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