D'ieteren Group Sa/nv · EURONEXT:DIE
D'ieteren Group Sa/nv — Investor Presentation (April 2022)
38 slides from D'ieteren Group Sa/nv's investor presentation, April 2022
Slide 1: D'Ieteren Group presentation March - April 2022
D’Ieteren Group presentation March - April 2022
Slide 2: Financial Calendar 2022 and Table of content
Financial Calendar 2022 Table of content APRIL 28 Investor Day D’Ieteren Group in a nutshell P 3-7 TVH Parts P 25-30 D’Ieteren Group strategy Moleskine P 8-9 P 31-34 JUNE ESG D’Ieteren Immo & Other 02 General Assembly P 10 P 35-36 Belron Contact info P 11-16 P 38 D’Ieteren Auto P 17-24 SEPTEMBER 05
Slide 3: A family-controlled listed investment firm
D’Ieteren Group in a nutshell A family-controlled listed investment firm Purpose D’Ieteren / Périer Free float Own shares To build a family of businesses that families1 reinvent industries in search of excellence and meaningful impact Management, 38.82% employees CD&R3 59.31%1 and founding 1.87% fam
Slide 4: Group in a nutshell – current portfolio
D’Ieteren Group in a nutshell – current portfolio • Worldwide leader in vehicle glass repair, replacement & recalibration (“VGRRR”) • 14.9 million customers served across 40 countries “Making a difference with • Very high levels of brand awareness and customer satisfaction real care” • Also manages
Slide 5: Group in a nutshell – performance
D’Ieteren Group in a nutshell – performance Adjusted PBT, group’s share (€ m) 493.4 332.7 305.4 305.8 300.7 299.3 241.6 247.9 212.1 226.1 203.0 177.6 157.2 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2019* 2020 2021 2022e Note: consolidation scope not fully comparable across period (Avis Europ
Slide 6: Contribution to the Group's key metrics (FY-2021)
D’Ieteren Group in a nutshell – key metrics Contribution to the Group’s key metrics (FY-2021) Combined revenues1 Combined adjusted operating €8.4bn result1 €969m 2% 4% 1% 11% 39% 5% -1% 56% 84% Adjusted result before tax, group share €493.4m 3% D’Ieteren Automotive 0% 22% 1% Belron Moleskine TVH Par
Slide 7: Group in a nutshell – structure & governance
D’Ieteren Group in a nutshell – structure & governance Board of Directors Strategic Committee Nomination & Remuneration Committee 11 Directors - All non-executive - 4 independent Audit Committee Executive Committee Francis Deprez Arnaud Laviolette CEO CFO Investment Committee Portfolio Management Co
Slide 8: Group's strategy – value creation
D’Ieteren Group’s strategy – value creation Strategy Revenue growth Purpose Support Operational excellence Contribute Ambition Strategy Support and Digitalization / technology value creation Active Execution over the long- Financial structure optimization involvement in Organization term our busines
Slide 9: Group's strategy – returns to shareholders
D’Ieteren Group’s strategy – returns to shareholders Shareholder returns Dividend per share (€) 3.80 Extraordinary Ordinary 2.85 2.10 1.35 0.90 0.95 1.00 1.00 0.80 0.80 0.80 0.80 0.43 0.95 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Dividend policy Share buyback programme restarted -
Slide 10: Group ESG roadmap
D’Ieteren Group ESG roadmap Focus areas Progresses 2021 Group Non-Financial KPIs - All businesses measured the three KPIs with the exception of Moleskine’s NPS to be (People engagement, Customer Satisfaction & CO2 emissions) implemented in 2022. Active - All businesses developed or initiated the dev
Slide 11: Belron: Making a difference with real care
Belron Making a difference with real care 2021 €4,647m revenues €815m adjusted operating result €3,795m net debt
Slide 12: A 20-year successful partnership
Belron at a glance A 20-year successful partnership D’Ieteren Group CD&R acquires a acquires 40% majority stake Belron stake in in Belron acquires Belron Safelite, the US market Gary Lubner leader becomes Belron’s CEO 1999 2000 2001 2002 2003 2004* 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2
Slide 13: Products and value drivers
Belron at a glance Products and value drivers › Miles driven (car park / miles per car) › Winter conditions General volume trend Global presence › Road infrastructure drivers › Average speed Revenue breakdown by region › More distancing due to camera penetration › Market share FY 2021 VGRR Vehicle G
Slide 14: Belron's main competitive advantage is to be the natural choice
Belron at a glance Belron’s main competitive advantage is to be the natural choice Employee engagement Key account Brand relationship Digital Technical & channel capabilities awareness (Repair vs Customer Replace promise) satisfaction Belron NPS1 2021 83.4% 2020 84.9% 2019 84.3% 2018 82.8% 2017 83.1
Slide 15: Belron's strategy rests on 6 value creation pillars
Belron at a glance Belron’s strategy rests on 6 value creation pillars 1 2 3 4 5 6 Marketing Sales Innovation Footprint expansion Complementary sales Efficiencies Investing in technology Consumer awareness/ Consumers tend to have Allows Belron to sustain Deeper insurer relationships innovation diffe
Slide 16: Fit for Growth – Ambitious Transformation programme under way
Belron Fit for Growth – Ambitious Transformation programme under way Acceleration workstreams (2018-to be continued) Transformation workstreams (2021-2025) Focus on growth, efficiency and • Supply chain optimization • Recalibration standardisation • Data-driven decisions Focus on process improvement
Slide 17: Automotive: Building seamless and sustainable mobility for everyone
D’Ieteren Automotive Building seamless and sustainable mobility for everyone 2021 €3,239m revenues €103m adjusted operating result €56m net debt
Slide 18: #1 importer and retailer of vehicles in Belgium
D’Ieteren Automotive at a glance #1 importer and retailer of vehicles in Belgium 24% market share in 2021 Largest car park with 1.2m vehicles on the road 92,732 new vehicles delivered in 2021 #1 brand in Belgium (VW) 70 years of partnership with VW Group and other leading brands Largest independent
Slide 19: Automotive - activities: Sales 2021
D’Ieteren Automotive at a glance - activities Sales (2021; €m) 3,239 Import Retail Other 34 57 After-sales • Import and distribution of vehicles • 25% of imported vehicles are sold 244 of VW Group brands through own dealerships in Spare parts and accessories • Management of independent Brussels (D’I
Slide 20: Net market share per brand and new car registrations
D’Ieteren Automotive at a glance - activities Net market share per brand New car registrations1 (k units) FY-21 (%) 600 547 572 547 550 550 540 476 487 486 483 501 23.7 431 227 246 230 224 218 240 383 Porsche 0.8 400 203 202 196 195 213 2.1 215 150 SEAT / Cupra 200 273 320 326 285 290 288 288 310 32
Slide 21: Regulatory framework: EU/BE regulation favours EVs
D’Ieteren Automotive at a glance - regulation Regulatory framework: stringent EU/BE regulation will impact the fuel mix, in favour of EVs EU regulation Belgian regulation • 95g of CO2/km from 2020 onward (in Europe, average of 120g/km in • Use of company car in Belgium fiscally favourable for employ
Slide 22: The Belgian car market
D’Ieteren Automotive at a glance The Belgian car market Fuel mix Buyer mix SUV mix1 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 44% 45% 40% 37% 39% 41% 52% 52% 47% 48% 59% 62% 33% 24% CNG/LPG 63% Electric 53% 56% 55% 60% 61% 59% 52% 36% 31% 3% 24% 15% 24% 6% 7% 72% 2018 2019 2020 202
Slide 23: Automotive Strategy
D’Ieteren Automotive at a glance Strategy Acceleration in the business transformation Multi-brand body work Transform Electric vehicles leadership Fleet excellence Expand Excellence and Customer satisfaction & proximity Expansion into efficiency in the Used cars core business Online leader promising
Slide 24: D'Ieteren Automotive survey on mobility in Belgium
D’Ieteren Automotive D’Ieteren Automotive has conducted a survey on mobility in Belgium in 2021 • A large qualitative and quantitative market survey was conducted with 3,800+ B2C and These evolutions will require ~300 B2B participants business adaptability but also open • As part of its societal res
Slide 25: TVH Parts: Keeps you going and growing
TVH Parts Keeps you going and growing Q4-21 €350m revenues €46m adjusted operating result €760m net debt
Slide 26: Geographical presence, products and customer type
TVH Parts at a glance Geographical presence, products and customer type Geography Europe North America APAC LATAM Middle East Africa Vehicle types Forklifts Warehouse MEWPs Telehandlers Tractors & Small earth- Other industrial equipment combines moving equipment1 equipment Customer Sales & service R
Slide 27: Unique operating model
TVH Parts at a glance Unique operating model Ability to source Unmatched SKU availability qualitative parts from Significant inventory global vendor base In-house manufacturing & engineering activities PART AVAILABILITY PART SOURCING LOGISTICS INTELLECTUAL CAPITAL Highly automated warehous
Slide 28: Large, growing and resilient markets
TVH Parts at a glance Large, growing and resilient markets Addressable market development, €bn CAGR Characteristics & trends Growth of underlying ’15-’19 ’19-’25 equipment fleet driven by growth in e-commerce and +4% Tractors ~4% ~4% global material handling flows p.a. 19.1 19.2 (MPA) SEM (Small 18.
Slide 29: Leading global one-stop-shop: Geographic coverage
TVH Parts at a glance Leading global one-stop-shop Differentiated positioning Value-added services Global Global one- stop-shop Technical client support: - Extensive and unique look-up service - Helpdesk Geographic coverage Large OEM International specialist distributors Technical training to cu
Slide 30: Leading global one-stop-shop
TVH Parts at a glance Leading global one-stop-shop Revenue (€m) Main drivers: 350 1. Constantly growing equipment fleet 2. Segment/ geographical expansion Q4-21 3. Market share gains Adjusted operating result (€m) 46 4. M&A Margin 13.2% 5. Operational efficiency 6. Scale economies LTM-May Note: Belg
Slide 31: Moleskine: Unleash the human genius through hands on paper
Moleskine Unleash the human genius through hands on paper 2021 €122m revenues €12m adjusted operating result €287m net debt
Slide 32: An iconic multi-category, multi channel brand
Moleskine at a glance An iconic multi-category, Moleskine is dedicated to multi channel brand, born support its users in from the legacy of the expanding knowledge, legendary “Moleskine” Moleskine became a brand that develops, markets creativity and individual notebook and sells products and service
Slide 33: Product, geography and distribution channel breakdown
Moleskine at a glance Revenue breakdown by Product breakdown geography Distribution channels 100% 100% 100% Non-paper 9% e-Commerce 7% APAC 18% 8% Retail 25% Americas 40% B2B Paper 91% Wholesale 60% EMEA 42% FY-2021 FY-2021 FY-2021 • Moleskine sells its products in globally o indirectly through a ne
Slide 34: Investment thesis
Moleskine at a glance Investment thesis Acquisition rationale New CEO since April 1st 2020 - Aspirational lifestyle premium brand - High margin business - Asset-light business model, Fewer Better Bigger exploiting optimum position in its value chain - Attractive growth prospects › Delight customers
Slide 35: Ensuring the prosperity of D'Ieteren Group's real estate portfolio
D’Ieteren Immo Ensuring the prosperity of D’Ieteren Group’s real estate portfolio
Slide 36: Book value of the real estate portfolio
D’Ieteren Immo & Other Book value of the real 37 sites in portfolio estate portfolio (€m) Immo strategy › Invest in new assets that fit within our strategy Brussels 197 206 187 195 170 178 › Enhance our existing assets to maximize their value 16% and make them futureproof Wallonia 19% › Hold-on to t
Slide 37: Forward-looking statement
Forward-looking statement “To the extent that any statements made in this presentation contain information that is not historical, these statements are essentially forward-looking. The achievement of forward-looking statements contained in this presentation is subject to risks and uncertainties beca
Slide 38: Contact information
Contact information Investors Press Stéphanie Voisin Anne-Catherine Zoller stephanie.voisin@dieterengroup.com anne-catherine.zoller@dieterengroup.com T. +32 2 536 54 39 T. +32 2 536 55 65 M. +32 478 48 58 71 www.dieterengroup.com D’Ieteren Group General Presentation 38