40 % drop in turnover
Autoglass, Carglass’s British affiliate, has been active in the British market for 42 years, but is facing huge problems, partially because of increased competition and because several insurance companies have issued percentages.
The group, with a British market share of 40 %, has had to deal with lower turnover over the past few years. Its sales volumes have dropped 40 % over the past 4 years, according to Benoit Ghiot (D’Ieteren’s financial manager). A 12 % drop in interventions also impacted turnover.
‘Mobile only’ from March 2015
These problems have led to a drastic restructuring program: its network of 100 stores will shut down and 180 employees (out of 1,000) will lose their job. Autoglass will focus on “mobile repairs” at home, at work or on the road. By March, the entire restructuring, which will cost 15 million euro, should have been finalized.
Belron is the world leader when it comes to vehicle glass repair and replacement. It has more than 10 brands, like Carglass, Autoglass and Safelite AutoGlass. It is active in 34 countries and it says it covers 75 % of the world’s car park thanks to 2,000 service points and nearly 8,900 mobile service units.
