Delticom
The Share

The Share

DELTICOM AG

Stock quote

Basis data and key figures

Stock exchanges: Xetra, Frankfurt, Berlin, München, Düsseldorf, Hamburg, Hannover, Stuttgart, L&S RT, Tradegate, Quotrix
Frankfurt stock exchange segment: Prime Standard
Market: Regulated Market
First Trading Day: October 26, 2006
WKN (German Securities Code): 514680
ISIN: DE0005146807
LEI (Legal Entity Identification Code): 529900F3EU2GVHVCLR26
Stock Market Symbol: DEX
Bloomberg: DEX:GR
Reuters: DEXGn.DE
Type of Shares: No par value registered ordinary shares
Share Capital: € 14,831,361
Number of shares: 14,831,361
Designated Sponsor: Stifel Europe Bank AG
Paying Agent: Commerzbank AG

Investment Highlights

  • Delticom is European online market leader in the replacement tyre trade
  • Private and commercial end customers are offered a wide range of products to choose from, with more than 600 brands and over 40,000 types of tyres
  • With a delivery of the tyres to a partner garage located near the buyer, Delticom increases the convenience for the customer enormously
  • Our 34,000 partner garages in Europe offer customers a comprehensive range of services, from tyre fitting to general inspections/services
  • Since its founding in 1999, more than 17.4 million customers have shopped in one of the company's more than 280 online shops in around 40 countries.
  • Delticom has more than 20 years of expertise in setting up and operating online shops, in Internet customer acquisition, in Internet marketing and in logistics
  • Several warehouse locations in Europe shorten transport routes and ensure a high delivery capacity even at seasonal peaks
  • Annual revenues potential of EUR 500+ million in core business, the online tyre retailing in Europe
  • Successful turnaround process initiated in mid-2019: Clear refocus on core business
  • The discontinuation of non-core activities has taken place at the beginning of 2020
  • The focus of the restructuring is on a sustainable improvement in profitability
  • Significant improvement in operating profit already achieved through margin optimization, efficiency gains and cost reductions
  • 2021: Revenues of EUR 585.4 million, EBITDA of EUR 17.1 million and EBITDA margin of 2.9 % achieved
  • Guidance 2022: Revenues between EUR 480 million and EUR 520 million, accompanied by an operating EBITDA between EUR 12 million and EUR 15 million
  • Operating EBIT margin of 3 % targeted in the medium term
  • Delticom is positioned in a growth sector: Fundamentally strong growth of the European B2C e-commerce market volume by approx. 13 % from EUR 636 billion in 2019 to EUR 717 billion in 2020, supported by the impact of Corona
  • A comparatively low penetration rate of around 13 % in the European replacement tyre trade offers further growth opportunities for the future
  • Increased digitization trend and growing willingness to buy online accelerates online market penetration in the replacement tyre trade as well

Research on our share

Date Analyst Recommendation Price target
05/17/2022 Jürgen Pieper, Bankhaus Metzler Hold € 3.30 Download PDF File
05/16/2022 Daniel Kukalj, Quirin Privatbank Buy € 8.50 Download PDF File
03/28/2022 Daniel Kukalj, Quirin Privatbank Buy € 8.50 Download PDF File
03/28/2022 Jürgen Pieper, Bankhaus Metzler Buy € 8.00 Download PDF File
01/17/2022 Jürgen Pieper, Bankhaus Metzler Buy € 15.00 Download PDF File
11/09/2021 Daniel Kukalj, Quirin Privatbank Buy € 16.00 Download PDF File
10/08/2021 Jürgen Pieper, Bankhaus Metzler Buy € 16.00 Download PDF File
08/19/2021 Jürgen Pieper, Bankhaus Metzler Buy € 16.00 Download PDF File
08/12/2021 Daniel Kukalj, Quirin Privatbank Buy € 16.00 Download PDF File
06/28/2021 Jürgen Pieper, Bankhaus Metzler Buy € 15.00 Download PDF File
05/14/2021 Daniel Kukalj, Quirin Privatbank Buy € 16.00 Download PDF File
05/03/2021 Jürgen Pieper, Bankhaus Metzler Buy € 15.00 Download PDF File
03/29/2021 Daniel Kukalj, Quirin Privatbank Buy € 16.00 Download PDF File
03/29/2021 Jürgen Pieper, Bankhaus Metzler Buy € 15.00 Download PDF File
03/03/2021 Jürgen Pieper, Bankhaus Metzler Buy € 15.00 Download PDF File
12/15/2020 Daniel Kukalj, Quirin Privatbank Buy € 7.70 Download PDF File
11/23/2020 Daniel Kukalj, Quirin Privatbank Buy € 6.50 Download PDF File

Financial key figures

2021 2020 2019 2018 2017
Revenues €m 585.4 541.3 625.8 645.7 667.7
Total income €m 614.0 574.2 663.4 683.8 693.5
Gross margin % 21.9 22.7 21.6 21.8 20.6
Gross profit €m 156.6 155.9 172.7 178.7 137.4
EBITDA €m 17.1 15.0 -6.6 9.0 9.3
EBITDA margin % 2.9 2.8 -1.1 1.4 1.4
EBIT €m 7.1 5.4 -42.1 1.1 2.0
Net income €m 6.8 6.9 -40.8 -1.7 1.1
Earnings per share 0.49 0.55 -3.27 0.13 0.09
Total assets €m 217.5 199.8 188.2 232.5 202.4
Inventories €m 46.6 36.9 62.9 99.6 79.8
Investments €m 1.2 1.6 6.6 10.7 7.9
Equity €m 38.0 14.8 8.3 49.3 52.9
Equity ratio €m 17.5 7.4 4.4 21.2 26.2
Return on Equity €m 17.9 46.4 -429.9 -3.4 2.1
Liquidity €m 4.9 5.6 5.3 3.4 3.9

Shareholder structure