Full Year 2024 D'Ieteren Group SA Earnings Call Transcript
Key Points
- D'Ieteren Group (SIETY) reported a strong increase in adjusted profit before tax group share, up 9.6% or 12.7% at constant currency.
- Free cash flow group share increased by 22.2%, reaching over EUR740 million.
- D'Ieteren Automotive achieved a record return on sales margin of 5.1%, despite a 6% decline in the Belgian new car market.
- TVH experienced a significant rebound with a 30.5% increase in PBT, aided by cost containment and recovery from a previous cyber-attack.
- The company proposed a dividend of EUR1.6, reflecting confidence in its financial stability and future prospects.
- Moleskine reported a negative adjusted PBT group share of minus EUR3 million due to a cautious discretionary spending environment.
- Belron faced increased financial charges, impacting its PBT group share, with a EUR60 million rise in net finance costs.
- D'Ieteren Auto's market share slightly declined to 24% in the Belgian market.
- The company anticipates a lower headline number for adjusted PBT group share in 2025 due to full-year effects of new financial charges.
- TVH expects a slightly declining adjusted operating result margin in 2025 due to a dilutive sales mix and absence of cyber-related insurance income.
Ladies and gentlemen, welcome to the D'Ieteren Group 2024 full-year results conference call. (Operator Instructions) Please note, this call is being recorded.
Today, I am pleased to present Francis Deprez, CEO; and Edouard Janssen, CFO. Gentlemen, please go ahead.
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Well, good evening, everyone. Welcome to the publication of our results of 2024. I suggest we just go into the key messages right away. We have three key messages for you tonight.
One is that we've delivered another strong set of results in 2024, both in our adjusted profit before tax group share, where we've increased with 9.6% or even 12.7%, if you take it at constant currency and excluding the additional financial charges Belron corporate segment that are linked to the transaction of last year, but also in the free cash flow group share were increased to 22.2%, reaching a number above EUR740 million. That's message number one.
Message number two is that our guidance for 2025 is
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