D'Ieteren Group

Board/Management Information • Apr 8, 2019

THE D'IETEREN GROUP AND AXEL MILLER TERMINATE THEIR COLLABORATION

The Board of Directors of D'Ieteren and Axel Miller have decided to terminate their collaboration. Consequently, Axel Miller leaves his position as CEO, Managing Director of D'Ieteren and other positions within the Group and its subsidiaries.

Axel Miller joined the Board of Directors of D'Ieteren as an independent director in May 2010 and was appointed CEO and Managing Director in May 2013. With more than 5 years at the head of the D'Ieteren group, he has built up a quality team and achieved healthy and solid results by ensuring efficient collaboration between D'Ieteren and its subsidiaries. Today, the Board of Directors of D'Ieteren and Axel Miller noted that their visions on the group's future developments and the leadership style no longer coincide and, for these reasons, have decided not to pursue their collaboration.

In the immediate future, the daily management of the group will continue to be carried out by the other members of the executive committee, Arnaud Laviolette and Francis Deprez, pending the appointment of a new CEO.

End of press release

Monday 8 April 2019 – 8:30 am

GROUP PROFILE

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 three activities articulated around strong brands:

• D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It is the country's number one car distributor, with a market share of around 21% and 1.2 million vehicles on the road. Sales and adjusted operating result reached respectively EUR 3.4 billion and EUR 113.0 million in 2018.
• Belron (54.10% owned) 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 35 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. It has also expanded its services into the automotive damage and home damage repair and replacement markets. Sales and adjusted operating result reached respectively EUR 3.8 billion and EUR 225.7 million in FY 2018.
• 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 more than 115 countries. Sales and operating result reached respectively EUR 174.1 million and EUR 28.6 million in FY 2018.

Last five press releases (with the exception of press releases related to the repurchase or sale of own shares)		Next events
28 February 2019	2018 Full-year Results	6 June 2019	General Assembly & trading update
7 November 2018	Belron has successfully allocated new term loan	28 August 2019	2019 Half-Year Results
29 October 2018	Belron launches a new loan of EUR 400 million equivalent
30 August 2018	2018 Half-Year Results
30 May 2018	1Q 2018 Trading Update

FINANCIAL CALENDAR

CONTACTS

Arnaud Laviolette, Chief Financial Officer Francis Deprez, Member of the Executive Committee Pascale Weber, Financial Communication - Tel: + 32 (0)2 536.54.39 E-mail: financial.communication@dieteren.be – Website: www.dieteren.com