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Delticom AG 
Germany

Delticom AG is a German tire retailer that divides its operations in two divisions: eCommerce and Wholesale. It acts primarily as an Internet tire retailer, offering private and business customers a variety of products in more than 100 online shops in 35 countries. Its product portfolio includes 25,000 models from more than 100 tire brands for cars, motorcycles, commercial vehicles and buses, as well as wheels, motor oil, replacement parts and accessories. It operates under the brand name ReifenDirekt in Germany, Switzerland and Austria, as well as through Websites mytyres.co.uk and 123pneus.fr, delivering tires to more than 24,000 service partners. Its Wholesale division sells tires to wholesalers in Germany and abroad. The Company has five wholly owned subsidiaries: two in Germany, Reifendirekt GmbH and Pnebo Gesellschaft fuer Grosshandel und Logistik mbH, as well as Delticom Tyres Ltd in the United Kingdom, NETIX Srl in Romania and Delticom North America Inc in the United States. 

http://www.delticom.de



Delticom publishes preliminary figures for FY 2012

Hanover, 23 January 2013 – For Delticom (German Securities Code (WKN) 514680, ISIN DE0005146807, stock market symbol DEX), Europe's leading online tyre dealer, 2012 was a challenging year. In a difficult market environment the company generated revenues of € 456.4 million, according to today's preliminary figures (2011: € 480.0 million). EBIT amounted to € 32.5 million (2011: € 52.9 million). Earnings per share were € 1.86 (2011: € 3.04).

Q4 12: Successful quarter despite poor market conditions

During the first nine months of 2012 the European tyre trade showed growing signs of a cyclical downturn. Weak tyre demand in the final quarter confirmed the trend. As a result, industry experts indicate that winter tyre sales disappointed in 2012, dropping below the already weak 2011 levels.

This did not leave Delticom’s Q4 12 business with commercial customers unaffected. Both B2B sales in the E-Commerce division as well as wholesale revenues shrunk double-digit. Total quarterly revenues amounted to € 175.9 million (Q4 11: € 182.3 million, –3.5 %). Due to robust sales to end-customers, divisional E-Commerce revenues for Q4 12 stood at € 172.7 million, only slightly below last year (Q4 11: € 176.5 million, –2.1 %).

In an environment characterised by mild winter conditions and increasing competitive pressure, Delticom was yet again able to grow its business with private end-customers (B2C). More than 80 % of the revenues in the E-Commerce division came from B2C sales. The company was therefore able to at least partially insulate itself from the overall weak market conditions.

In order to increase volume Delticom had to offer more attractive prices for its customers. According to the German tyre trade association (BRV), selling prices for winter tyres had to be reduced by a few percentage and thus forfeiting profits, as weak demand met fully stocked warehouses. Consequently, Delticom's Q4 12 gross margin (trade margin ex other operating expenses) of 25.0 % came in significantly lower than in the prior-year period (Q4 11: 28.8 %). This was compounded by the planned increase in fixed costs, resulting in a Q4 12 EBIT margin of 8.5 % (Q4 11: 13.6 %).



Delticom AG publishes 2009 annual report 

Revenues EUR 311.3 million (+20.2%) 
EBIT EUR 29.4 million (+78.8%), EBIT margin 9.4% 
Net income EUR 20.2 million or EUR 1.71 Euro per share (+72.4%) 
Proposed dividend: EUR 1.70 per share (+70%) 

Hanover, 23 March 2010 - Delticom AG (German Securities Code (WKN) 514680, ISIN DE0005146807, stock market symbol DEX), Europe’s leading Internet tyre retailer, has published its consolidated annual report for the fiscal year 2009. Compared with the prioryear period, Delticom lifted its revenues by 20.2% to EUR 311.3 million (2008: EUR 259.0 million). EBIT increased in the reporting period by 78.8% to EUR 29.4 million (2008: EUR 16.4 million). In relation to revenues, this corresponds to an EBIT margin of 9.4% - clearly exceeding the forecast of 7%. Consolidated net income for 2009 was EUR 20.2 million or EUR 1.71 per share, up 72.4% from previous year's EUR 0.99.

CEO Rainer Binder: “The course of business in the financial year 2009 was a very successful one for Delticom, even more so if viewed in the context of the bruised economy. One significant contributing factor to our results was the unusually favourable, snowy winter weather in the closing quarter.” In Germany new car registrations resulting from the scrappage scheme created further selling opportunities for winter tyres.

As in the previous years, the E-Commerce division is the main growth driver of the company. Revenues in this core segment rose 24.8% to EUR 296.5 million (2008: EUR 237.6 million). The ADAC Tyre Monitor 2010 reveals that drivers are definitely inclined towards buying their tyres online. During 2009, 6.7% of the ADAC members purchased their tyres over the Internet (compared to 4.9% in 2008). In the 18 to 39 age cohort, the number rose to 15.4% (2008: 8.9%). There is reason to believe that these figures will accelerate in years to come: 15.8% of those polled in this study stated that they wanted to make future tyre purchases online. In the cohort of the younger, more Internet-savvy buyers this number jumped to a remarkable 29.6%.

Frank Schuhardt, CFO: “In difficult economic times, consumers are trading down and increasingly search for lower-priced alternatives, especially on the Internet. Consequently, our E-Commerce division will continue to make a strong contribution to both top- and bottom line over the coming months. We anticipate an increase in revenues of up to 10% and an EBIT margin of 8%. This is an ambitious goal, but one which can be achieved if our business develops in a positive way.”

Management and Supervisory Board will allow the shareholders to partake of the firm's success, as has been the case in past years. Subject to the approval of the Annual General Meeting on 11 May 2010, Delticom AG will pay out a dividend of EUR 1.70, thus 70% more than in the previous year.

The full Annual Report of 2009 can be downloaded from the website www.delti.com within the "Investor Relations" area.

 

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