Delticom AG publishes 2009 annual report
Delticom AG Investor Relations
Tel.: +49(0)511-936 34-8903
- 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.
Delticom, Europe’s leading online tyre retailer, was founded in Hanover in 1999. With 105 online shops in 35 countries, the company offers its private and business customers an unequalled assortment of excellently priced car tyres, motorcycle tyres, truck tyres, bus tyres, special tyres, rims, complete wheels (pre-mounted tyres on rims), selected replacement car parts and accessories, motor oil and batteries. The independent website reifentest.com contains impartial information about tyre tests and helps the customers choose from more than 100 tyre brands and more than 25,000 tyre models. Delticom delivers either directly to the customer’s home address, or to one of more than 25,000 service partners – affiliated garages which take delivery of tyres and then install these on the customer’s vehicle. Delticom’s Wholesale division also sells tyres to wholesalers domestically and abroad.
On the Internet at: www.delti.com
Selected online shops: www.reifendirekt.de, www.123pneus.fr, www.mytyres.co.uk, www.reifendirekt.ch