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.
|
