D'Ieteren proposes to allocate the dividend increase to a solidarity program
The Board of Directors of D'Ieteren SA has decided to modify its profit distribution proposal and will propose to the General Meeting a gross dividend per share that is stable compared to last year’s (EUR 1.00) and to allocate the initially planned dividend increase of EUR 0.15 per share to a solidarity program that will help employees of D’Ieteren Group who may suffer hardship as a consequence of the Covid-19 crisis. This program will also be open to personal contributions from Board members, managers and employees of the Group.
Francis Deprez, CEO explains: “We are in the midst of an unprecedented crisis and I would like to thank our employees for their commitment to serving our customers and the communities in which they live. The resources raised by the program will enable us to help the most vulnerable colleagues in a spirit of solidarity and gratitude. It also complements the local initiatives that are already being made by the Group’s different companies”.
The Board of Directors noted collegially that "for 215 years, the D’Ieteren Group has counted on the commitment and dedication of its employees. In a context as new as that of a global pandemic, the extent of the damage is uncertain. Caring for others is one of the five core values of the group, D’Ieteren strives to reduce the level of uncertainty and support its employees in these times.”
End of press release
In existence since 1805, and across family generations, D'Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The Group has currently the following activities:
- D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It has a market share of around 22% and 1.2 million vehicles on the road. Its business model is evolving towards improving the lives of citizens with fluid, accessible and sustainable mobility. Sales and adjusted operating result reached respectively EUR 3.6 billion and EUR 119.0 million in FY 2019.
- Belron (54.85% of the voting rights) has a clear purpose: "making a difference by solving people's problems with real care". It is the worldwide leader in vehicle glass repair and replacement and operates in 39 countries, through wholly owned businesses and franchises, with market leading brands - including Carglass®, Safelite® and Autoglass®. In addition, Belron manages vehicle glass and other insurance claims on behalf of insurance customers. Sales and adjusted operating result reached respectively EUR 4.2 billion and EUR 400.5 million in FY 2019.
- Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across 114 countries. Sales and adjusted operating result reached respectively EUR 163.9 million and EUR 18.6 million in FY 2019.
- D'Ieteren Immo (100%) groups together the Belgian real estate interests of D'Ieteren Group. It owns and manages approximately 30 properties which generated EUR 19.7 million net rental income in FY 2019. It also pursues investment projects and carries out studies into possible site renovations.
Francis Deprez, Chief Executive Officer
Arnaud Laviolette, Chief Financial Officer
Pascale Weber, Investor Relations - Tel: + 32 (0)2 536.54.39