28 May 2026 - Results

D'Ieteren Group's sales, Group's share increased by 0.2% YoY to €2,924.0m, reflecting robust growth at most of the businesses, offset by adverse FX movements and a softer market environment, as expected, at D'Ieteren Automotive.

- This is an abstract. For further details, please refer to the full press release -

Belron

  • Belron's total sales (at 100%) increased by 8.0% YoY in Q1-2026 at December 31st, 2025 FX rates for both years, despite c.1 less trading day. Reported sales growth was at 2.0% in Q1-2026 to €1,614.1m. This is comprised of 6.9% organic growth, growth from acquisitions of 0.7%, and a negative currency effect of -5.6% YoY.
  • Sales growth was driven by total jobs growth of 3.5% YoY (which includes prime jobs and recalibrations, 0.2% for prime jobs only), favourable price/mix effect and a positive contribution from VAPS ('Value-Added Products & Services').
  • Organic growth in Q1-2026 was at 8.7% in North America (54% of total), with better volume trends in the insurance segment; at 5.1% in the Eurozone (32% of total), thanks to higher volumes and price/mix; and at 3.9% in the Rest of the World (15% of total).

D'Ieteren Automotive

  • The Belgian net new passenger car market's registrations declined by -5.8% YoY to 112,094 units. D'Ieteren Automotive's net market share remained stable, at 21.9%. The total number of vehicles, including commercial vehicles, delivered by D'Ieteren Automotive in Q1-2026 was at 23,710 units (-3.7% YoY).
  • D'Ieteren Automotive's sales declined by -6.6% YoY in Q1-2026 to €1,114.7m, the decline being primarily due to lower volumes and lower average selling prices.

PHE

  • PHE's total sales were at €798.1m, representing a 9.2% YoY growth in Q1-2026 (versus €730.8m restated for Q1-2025). This was driven by a 6.3% YoY organic growth and 3.0% from acquisitions.
  • Organic growth was at 2.4% YoY in France (58% of total) and at 12.6% for the international activities (42% of total). This performance was primarily driven by continued market share gains.

TVH

  • Q1-2026 sales growth at December 31st, 2025 FX rates was 5.3% YoY. Reported sales of €440.7m increased by 1.5% versus Q1-2025. This growth is comprised of 4.3% organic growth, 0.8% from acquisitions and -3.6% related to foreign exchange.
  • Growth is primarily related to improved activity levels on volumes in all regions and all markets.

Moleskine

  • Moleskine's sales increased by 1.1% YoY organically and declined by -4.8% YoY on a reported basis to €23.0m in Q1-2026. The organic growth was more than offset by -5.9% YoY adverse FX movements.
  • Organic growth in Q1-2026 was primarily attributable to the wholesale channel picking up in the US, as well as overall growth in the retail channel.
Outlook 2026

D'Ieteren Group maintains its guidance for a FY-2026 low- to mid-single-digit percentage growth of its adjusted profit before tax, Group's share. This outlook assumes, for FY-2025 and FY-2026, foreign exchange rates that are in line with the rates that prevailed on December 31st, 2025 (i.e. EUR/USD of 1.17) and excludes any potential impact from geopolitical tensions or additional increase in US trade tariffs, as well as the acquisitions not yet closed at PHE.

General Meetings

D'Ieteren Group holds its Ordinary and Extraordinary General Meetings today starting at 3:00pm CET.

The Board of Directors will propose the distribution of a gross ordinary dividend of €2.00 per share to its shareholders. If approved, the dividend will be paid on June 11th, 2026.

Key developments
  • In April 2026, PHE has raised, through a private placement, a new fungible TLB add-on of €200m for the acquisition of a 51% in two AD Parts distributors in Spain, Polaris and Regueira. The completion of these acquisitions is expected at the end of May 2026.
  • Belron paid a €200m interim dividend to its shareholders (€103m to D'Ieteren Group) in May 2026.
  • Giuliano Parodi has been appointed CEO of TVH, effective September 1st, 2026. With nearly 25 years in the industrial equipment and automotive sectors (Yanmar, Bobcat, Fiat), Giuliano will lead TVH into its next chapter of global growth.

- End of abstract -


 Contact

Francis Deprez, Chief Executive Officer
 Edouard Janssen, Chief Financial Officer

Stéphanie Voisin, Head of Financial Communication - Tel: + 32 (0)2 536.54.39
Bram Geeroms, Investor Relations and Treasury Manager - Tel: +32 (0)2 260.29.16

E-mail: financial.communication@dieterengroup.com - Website: https://www.dieterengroup.com

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Disclaimer

D'Ieteren Group SA published this content on May 28, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 28, 2026 at 05:38 UTC.