Delticom AG: Q1 profitable but below plan
Delticom AG Investor Relations
Tel.: +49(0)511-936 34-8903
Hanover, 17 April 2012 – Delticom (German Securities Code (WKN 514680, ISIN DE0005146807, stock market symbol DEX), Europe’s leading online tyre dealer, released preliminary figures for the first quarter 2012 today. While revenues came in flat year-on-year (Q1 12: € 85.5 million, Q1 11: € 85.4 million), EBIT fell to € 3.4 million (Q1 11: € 5.9 million).
Due to unfavourable weather conditions in the first quarter, Delticom’s business developed below plan. At the beginning of the year market-wide demand for winter tyres was depressed by a lack of snowfall. Additionally, temperatures ahead of the Easter holiday were too low for a good start into the summer season.
With 25.8% the Q1 gross margin was kept at prior-year levels (Q1 11: 25.9%). EBIT came in € 2.5 million lower, though, partly because of the weaker demand but also due to higher expenses for the new warehouse opened in May 2011.
In the tyre business seasonal effects are not uncommon. Management expects demand to normalise in the upcoming weeks. As the bulk of the summer tyres are sold in the second quarter, guidance for the full year remains unchanged at 10% growth in revenues and earnings.
Delticom will publish further Q1 preliminary figures on Thursday, April 19th on its website www.delti.com.
Delticom, Europe’s leading online tyre retailer, was founded in Hanover in 1999. With more than 100 online shops in 41 countries, the company offers its private and business customers an unequalled assortment of excellently priced car tyres, motorcycle tyres, bicycle 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 30,000 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