Interim Management Statement

Summary of the first quarter

- Results slightly ahead compared to a record first quarter 2010.

- Continued growth in sales, up 9.4%.

  • D’Ieteren Auto: market share up to 20.42% in a new car market that has increased by 5.3%. Sales up 16%.
  • Belron: sales up 3%, consisting of 1% from acquisitions and a favourable currency impact of 2%. Like-for-like sales flat vs a tough 2010 comparative.
  • Avis Europe: rental income up 5.2% (NB: Avis Europe reports for the four months to the end of April).

- Current consolidated result before tax, group’s share, up 2.9%.

- 2011 current consolidated result before tax, group’s share, expected to be up at least 5% after a record year 2010.



D'Ieteren is a group of services to the motorist founded in 1805, serving over 19 million customers in some 120 countries in three areas:

D'Ieteren Auto distributes Volkswagen, Audi, Škoda, Seat, Porsche, Bentley, Lamborghini, Bugatti and Yamaha vehicles across Belgium. It is the country's number one car dealer, with a market share of over 20% and more than one million vehicles of the distributed makes on the road. Sales in 2010: 2.7 billion euro.

Belron (92.7% owned) is the worldwide leader in vehicle glass repair and replacement. 1,900 branches and 9,500 mobile vans, trading under more than 15 different brands including Carglass, Autoglass and Safelite Auto Glass, serve customers in 33 countries. Sales in 2010: 2.8 billion euro.

Avis Europe (59.6% owned, listed on the London Stock Exchange) is a leading short-term car rental company. With its Avis and Budget brands, it operates through more than 3,900 locations in Europe, Africa, the Middle East and Asia. Rental income in 2010: 1.2 billion euro.


Financial calendar

26 May 2011 – General Shareholders’ Meeting

25 August 2011 – 2011 Half-year Results (after market)

16 November 2011 – Interim Management Statement (after market)



Jean-Pierre Bizet, Chief Executing Officer

Benoit Ghiot, Chief Financial Officer

Vincent Joye, Financial Communication - Tel: + 32 (0)2 536.54.39

E-mail: - Website: