167 0 Kommentare Christian Dior shows good resilience in the first quarter of 2020 - Seite 3

In a very turbulent context, the Group will maintain a strategy focused on preserving the value of its brands, based on the exceptional quality of its products and the responsiveness of its teams. In the current situation, the Group will further strengthen its policy of controlling costs and being selective in its investments. The closures of the Group's manufacturing sites and stores in most of the world’s countries in the first half will have an impact on the annual revenue and results. This impact cannot be precisely evaluated at this stage without knowing the timetable for a return to normal business in the different areas where the Group operates. We can only hope that the recovery happens gradually from May or June after a second quarter which will still be very affected by the crisis, in particular in Europe and the US. The Christian Dior group relies on the talent and motivation of its teams, the diversification of its businesses and the geographical diversity of its revenue to reinforce, once again in 2020, its global leadership position in high-quality goods.

At a meeting on April 15^th, 2020, the Christian Dior Board of Directors assessed the economic situation resulting from the Covid-19 pandemic and, in light of current events and governmental recommendations, decided to propose a reduction in the dividend announced on January 28^th for Shareholders’ approval at the AGM on June 30^th, 2020. Thus, the balance of the dividend to be distributed will amount to €2.60 per share and will be paid on July 9^th, 2020.
In addition, the Board was informed of the decision taken by Sidney Toledano, Chief Executive Officer of Christian Dior, to give up its remuneration within the Group for the months of April and May 2020 as well as any variable remuneration relating to 2020, a decision similar to the decision taken by the Executive Board members of LVMH.
Finally, the Board members of the Company took the decision to reduce their attendance fees by 30% for 2020.

This document is a free translation into English of the original French financial release dated April 16, 2020.
It is not a binding document.
In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.

This financial release is available on our website www.dior-finance.com

Attachment