Added to YB: 2026-04-29
Pitch date: 2026-02-25
DIE.BR [bullish]
D'Ieteren Group SA
-1.67%
current return
Author Info
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Company Info
D'Ieteren Group SA operates as an investment company in Belgium, France, rest of Europe, and internationally.
Market Cap
EUR 9.3B
Pitch Price
EUR 179.50
Price Target
259.00 (+47%)
Dividend
1.13%
EV/EBITDA
11.43
P/E
22.44
EV/Sales
1.40
Sector
Distributors
Category
value
D'Ieteren Group SA - $DIE.BR
DIE.BR: Belgian holdco trading >40% below SOTP. It's primary position is a 50.3% Belron stake (Safelite/Carglass auto-glass repair) which is worth more than the market cap. Belron IPO expected by YE 2026 at €32bn EV (~19x 2026 EBIT), should crystallize value & narrow discount. Belron: defensible B2B2C, a-cyclical revenues, margins expanding to >25% by 2028 on ADAS penetration & new State Farm contract. €259 PT = 43% return incl divs. Risks: tariffs, no IPO, cyclicality in non-Belron assets.
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