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EQS-News: Delticom AG
/ Key word(s): Quarter Results
Delticom publishes Q1 business development: Increase in revenues and earnings Hanover, May 13, 2024 – Delticom AG (German Securities Code (WKN) 514680, ISIN DE 0005146807, stock market symbol DEX), Europe's leading online retailer for tyres and complete wheels, publishes the key points of its business trends in the first quarter 2024 with this interim announcement.
Delticom AG continued to work successfully in its core business in the first three months of the current fiscal year and improved its operating EBITDA from € -520 thousand to € +820 thousand. Against the backdrop that the 2023 winter season was exceptionally successful, this is necessary in order to meet the full-year forecast. In the first three months of the current fiscal year, revenues of Delticom group increased by 24 % from € 78 million to € 97 million. This is due to good sales and pre-sales in business with both private and commercial end customers in view of the summer temperatures in February and March. At € -1.4 million, the increase in revenues led to a 39 % improvement in consolidated net income compared to the previous year (€ -2.3 million). Delticom expects a higher tax rate in 2024 than in 2023, so that the improved consolidated net income in the first quarter is necessary to fulfil the full-year forecast. The positive business development is the result of both the corresponding weather-related effect and the measures already taken in 2023 to reduce costs and increase profitability, which will now take full effect in 2024. In terms of revenues and profitability, the first quarter is only of comparatively minor importance in relation to the year as a whole, as it typically represents the transition from the winter to the summer tyre business. In addition, weather-related shift effects are not uncommon in the tyre trade. The development for the year as a whole will therefore largely depend on the winter tyre business in the fourth quarter of 2024. It should be noted that the fourth quarter of 2023 was exceptionally strong due to the weather and that this effect cannot be expected to be repeated. Due to the acceptable start to 2024, Delticom AG confirms its forecast. The company continues to expect revenues of between € 450 million and € 470 million in 2024. Operating EBITDA is still targeted between € 19 million and € 21 million, depending on revenues. The Semi-Annual Report will be made available for download on August 14, 2024 on the website www.delti.com in the “Investor Relations” section.
With its brand Reifendirekt, Delticom AG is the leading company in Europe for the online distribution of tyres and complete wheels. The product portfolio for private and business customers comprises an unparalleled range of more than 600 brands and over 40,000 tyre models for cars and motorcycles. Complete wheels and rims complete the product range. The company operates 355 online shops and online distribution platforms in 67 countries, serving more than 19 million customers. In the online shop Reifendirekt.de, sustainable and resource-saving tyres are labelled accordingly and awarded a sustainability seal. As part of the service, the ordered products can be sent to one of Delticom's approximately 30,000 partner garages in Europe for mounting at the customer's request. Based in Hanover, Germany, the company operates primarily in Europe and has extensive expertise in the development and operation of online shops, internet customer acquisition, internet marketing and the establishment of partner networks. Since its foundation in 1999, Delticom has built up comprehensive expertise in designing efficient and fully integrated ordering and logistics processes. The company's own warehouses are among its most important assets. In fiscal year 2023, Delticom AG generated revenues of around 476 million euros. At the end of the first quarter 2024, the company employed 168 people. The shares of Delticom AG have been listed in the Prime Standard of the German Stock Exchange since October 2006 (ISIN DE0005146807). On the internet at: www.delti.com Delticom AG
13.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Delticom AG |
| Brühlstraße 11 | |
| 30169 Hanover | |
| Germany | |
| Phone: | +49 (0)511 93634 8000 |
| Fax: | +49 (0)511 8798 9138 |
| E-mail: | info@delti.com |
| Internet: | www.delti.com |
| ISIN: | DE0005146807 |
| WKN: | 514680 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1901591 |
| End of News | EQS News Service |
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1901591 13.05.2024 CET/CEST
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