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1805 D'leterenGroup PRESS RELEASE : 2021 HALF - YEAR RESULTS REGULATED INFORMATION Wednesday 1 September 2021 - 5:45 pm CET 2021 Half - Year results Strong performance driven by all businesses Half - Year 2021 highlights D'leteren Group's results showed a strong recovery in H1-21 compared to H1-20 , which was affected by the Covid- 19 outbreak and the resulting lockdown measures in most of the operating regions . The Group's key performance indicator ( KPI ) - the adjusted consolidated profit before tax , Group's share¹ - rose by 183.1 % to € 288.8m on a comparable basis ( 53.65 % stake in Belron in H1-20 and H1-21 ) . All the businesses contributed to this recovery . • • • Belron's organic 5 sales growth at constant currency of 29.1 % reflects positive volume trends and increased contributions from price / mix , ADAS recalibrations and Value - Added Products & Services ( ' VAPS ' ) . Its adjusted profit before tax , Group's share¹ improved significantly by 135.8 % reflecting the top - line trends , productivity improvement and cost control . D'leteren Automotive's share² improved by 49bps to 23.5 % in the Belgian new car market2 ( excluding registrations of less than 30 days ) which recovered by 6.1 % . Sales growth of 25.5 % YoY was further driven by a positive price / mix . This translated into a 115.4 % growth in the adjusted profit before tax , Group's share¹ as the transformation and cost containment initiatives had also a positive impact on profitability . Moleskine contributed to the growth , while performance remains subdued , still negatively impacted by the unstable retail market in the first half . Sales increased by 14.6 % , and the adjusted profit before tax , Group's share¹ improved from - € 15.8m in H1-20 to - € 3.9m in H1-21 . Corporate & Unallocated ( including corporate and real estate activities ) reported an adjusted profit before tax , Group's share¹ of € 0.3m in H1-21 compared to - € 9.3m in H1-20 . D'leteren Group had a net cash position of € 2,095.3m ( of which € 463.3m inter - segment loans ) at the end of H1-21 following the distribution from Belron in Q2-21 . Adjusted free cash - flow generation amounted to a combined level of € 342.0m ( Belron at 100 % ) , which compares with € 444.3m in H1-20 , the decline being as expected primarily due to a much lower working capital inflow at D'leteren Automotive . Outlook 2021 While the evolution of the Covid - 19 crisis is still unknown , based on the absence of renewed or more severe lockdowns in its main operating regions , and given the year to date financial performance , D'leteren Group reconfirms its latest guidance and expects its adjusted consolidated profit before tax , Group's share ¹ to grow by at least 45 % compared to € 332.7m in 2020 , excluding the impact of the refinancing at Belron announced on April 1st , estimated at € 12m group's share . This outlook assumes a 53.75 % stake in Belron in 2020 and 2021 and average exchange rates that are in line with the rates that prevailed at the end of 2020. Additionally , this also excludes the contribution of TVH Parts , which is expected to be integrated in the course of Q4-21 . Note that from H2-21 onwards , following the conversion of preference shares into ordinary shares and given the full dilution of the management reward plan , Belron's integration percentage in D'leteren Group's results will be 50.01 % . Rue du Mail 50 - 1050 Bruxelles ( Belgium ) | tel .: +32 2 536 54 39 | fax : +32 2 536 91 39 VAT BE 0403.448.140 - Brussels RPM www.dieterengroup.com 1/20