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19.04.2024 13:48:42 - dpa-AFX: EQS-News: Delticom publishes Annual Report 2023: Consolidated net income increased to EUR 8 million, basis for possible dividend payment in 2025 formed (english)
Delticom publishes Annual Report 2023: Consolidated net income increased to
EUR 8 million, basis for possible dividend payment in 2025 formed
EQS-News: Delticom AG / Key word(s): Annual Report
Delticom publishes Annual Report 2023: Consolidated net income increased to
EUR 8 million, basis for possible dividend payment in 2025 formed
19.04.2024 / 13:48 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Delticom publishes Annual Report 2023: Consolidated net income increased to
EUR 8 million, basis for possible dividend payment in 2025 formed
Hanover, April 19, 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, today published its Annual Report
2023.
* Revenues of EUR 476 million (forecast for 2024: EUR 450-470 million)
* Increase in operating EBITDA to EUR 22 million (forecast for 2024: EUR 19-21 million)
* Net income amounted to EUR 8 million (2022: EUR 3 million)
* Increase in equity to EUR 48 million (2022: EUR 40 million)
Fiscal year 2023
In the past fiscal year, Delticom AG focussed on further improving the
profitability in its operating business and was able to increase its
operating EBITDA from EUR 15.0 million to EUR 21.8 million. As a result,
operating EBITDA exceeded the upper range of the forecast corridor
(forecasted range: EUR 14-18.9 million).
In the past fiscal year, the Delticom Group generated revenues of EUR 476
million (2022: EUR 509 million). In the 2023 financial year, the previous shop
business was supplemented by platform business. The company provides the
technical infrastructure and its sales and process expertise to enable
external third parties to sell goods online to Delticom's private and
commercial end customers. This results in a partial shift of the shop
business to platform business. Accordingly, commission income is realised
for the shifted share of revenues. The year-on-year decrease in revenues is
primarily due to this shift. The gross merchandise volume for the year as a
whole totalled EUR 586 million (2022: EUR 582 million).
The gross margin (trade margin excluding other operating income) totalled
24.4 % for the past financial year, compared to 21.6 % in the same period of
the previous year. This improvement is primarily due to the change in the
sales mix. In the past financial year, demand for quality tyres from Asian
manufacturers increased.
At EUR 5.6 million, the investments made in 2023 are higher than the previous
year's figure of EUR 2.6 million. In the past fiscal year, Delticom AG
invested in AI-supported software and in technical warehouse equipment,
especially in the warehouse in Ensisheim.
At EUR 8.0 million or EUR 0.54 per share, consolidated net income is higher than
in the previous year (2022: EUR 2.8 million or EUR 0.19 per share). Delticom
AG's earnings relevant for distribution amount to EUR 8.0 million or EUR 0.54
per share. In 2022, Delticom AG's earnings amounted to EUR -9.4 million or EUR
-0.63 per share due to unscheduled write-downs on the carrying amounts of
selected subsidiaries.
The release of both the legal reserve and part of the capital reserve as
part of the preparation of the annual financial statements of the individual
company Delticom AG as of December 31, 2023 to offset the loss carryforwards
from previous years still existing after offsetting against the net income
for the 2023 financial year created the basis for future dividend
distributions. The reversal of reserves presented in the 2023 annual
financial statements may only be carried out for the purpose of offsetting
losses. Accordingly, no dividend payment can be proposed by the Management
Board for the 2023 financial year.
Outlook 2024
Although inflation has weakened in recent months and experts expect real
wages in Europe to rise and private consumption to pick up over the course
of this year, there are economic and geopolitical risks that cannot be
assessed in terms of their potential impact on companies, consumers and
supply chains. Delticom AG is currently unable to estimate the extent to
which European demand for replacement tyres will pick up this year in a
market environment characterised by uncertainties, due to the wide range of
possible influences. In its planning for the current financial year, the
company has therefore not recognised opportunities for a market recovery.
The same applies to positive weather effects. In particular, Delticom AG
does not expect the strong winter tyre business of 2023 to be repeated in
2024. There is also the possibility that more revenues will be shifted to
the platform business in the current year than in the previous year.
Accordingly, the management is planning revenues in the range of EUR 450-470
million in the current financial year.
The company also expects to further reduce costs in the current year. For
operating EBITDA for the year as a whole, the Management Board is planning a
range of EUR 19-21 million, depending on revenues. Accordingly, we expect to
stabilise the operating result achieved in 2023 in the current year.
The complete report for the 2023 fiscal year can be downloaded from the
website www.delti.com in the "Investor Relations" section.
Delticom Group - Key Figures
About Delticom:
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.
As part of the service, the ordered products can be sent to one of
Delticom's around 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 last year, the company employed 172 people.
Delticom AG shares have been listed in the Prime Standard of Deutsche Börse
since October 2006 (ISIN DE0005146807).
On the internet at: www.delti.com
Contact:
Delticom AG
Investor Relations
Melanie Becker
Brühlstraße 11
30169 Hannover
Phone: +49 (0)511-93634-8903
Fax: +49 (0)511-8798-9138
Email: melanie.becker@delti.com
---------------------------------------------------------------------------
19.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1884835 19.04.2024 CET/CEST
EUR 8 million, basis for possible dividend payment in 2025 formed
EQS-News: Delticom AG / Key word(s): Annual Report
Delticom publishes Annual Report 2023: Consolidated net income increased to
EUR 8 million, basis for possible dividend payment in 2025 formed
19.04.2024 / 13:48 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Delticom publishes Annual Report 2023: Consolidated net income increased to
EUR 8 million, basis for possible dividend payment in 2025 formed
Hanover, April 19, 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, today published its Annual Report
2023.
* Gross merchandise volume (GMV) totalled EUR 586 million (2022: EUR 582
million)
* Revenues of EUR 476 million (forecast for 2024: EUR 450-470 million)
* Increase in operating EBITDA to EUR 22 million (forecast for 2024: EUR 19-21 million)
* Net income amounted to EUR 8 million (2022: EUR 3 million)
* Further reduction in financial debt against the backdrop of the
company's positive development and stringent working capital management
* Increase in equity to EUR 48 million (2022: EUR 40 million)
* Equalisation of loss carryforwards from previous years at Delticom AG
creates basis for possible dividend payment in 2025
Fiscal year 2023
In the past fiscal year, Delticom AG focussed on further improving the
profitability in its operating business and was able to increase its
operating EBITDA from EUR 15.0 million to EUR 21.8 million. As a result,
operating EBITDA exceeded the upper range of the forecast corridor
(forecasted range: EUR 14-18.9 million).
In the past fiscal year, the Delticom Group generated revenues of EUR 476
million (2022: EUR 509 million). In the 2023 financial year, the previous shop
business was supplemented by platform business. The company provides the
technical infrastructure and its sales and process expertise to enable
external third parties to sell goods online to Delticom's private and
commercial end customers. This results in a partial shift of the shop
business to platform business. Accordingly, commission income is realised
for the shifted share of revenues. The year-on-year decrease in revenues is
primarily due to this shift. The gross merchandise volume for the year as a
whole totalled EUR 586 million (2022: EUR 582 million).
The gross margin (trade margin excluding other operating income) totalled
24.4 % for the past financial year, compared to 21.6 % in the same period of
the previous year. This improvement is primarily due to the change in the
sales mix. In the past financial year, demand for quality tyres from Asian
manufacturers increased.
At EUR 5.6 million, the investments made in 2023 are higher than the previous
year's figure of EUR 2.6 million. In the past fiscal year, Delticom AG
invested in AI-supported software and in technical warehouse equipment,
especially in the warehouse in Ensisheim.
At EUR 8.0 million or EUR 0.54 per share, consolidated net income is higher than
in the previous year (2022: EUR 2.8 million or EUR 0.19 per share). Delticom
AG's earnings relevant for distribution amount to EUR 8.0 million or EUR 0.54
per share. In 2022, Delticom AG's earnings amounted to EUR -9.4 million or EUR
-0.63 per share due to unscheduled write-downs on the carrying amounts of
selected subsidiaries.
The release of both the legal reserve and part of the capital reserve as
part of the preparation of the annual financial statements of the individual
company Delticom AG as of December 31, 2023 to offset the loss carryforwards
from previous years still existing after offsetting against the net income
for the 2023 financial year created the basis for future dividend
distributions. The reversal of reserves presented in the 2023 annual
financial statements may only be carried out for the purpose of offsetting
losses. Accordingly, no dividend payment can be proposed by the Management
Board for the 2023 financial year.
Outlook 2024
Although inflation has weakened in recent months and experts expect real
wages in Europe to rise and private consumption to pick up over the course
of this year, there are economic and geopolitical risks that cannot be
assessed in terms of their potential impact on companies, consumers and
supply chains. Delticom AG is currently unable to estimate the extent to
which European demand for replacement tyres will pick up this year in a
market environment characterised by uncertainties, due to the wide range of
possible influences. In its planning for the current financial year, the
company has therefore not recognised opportunities for a market recovery.
The same applies to positive weather effects. In particular, Delticom AG
does not expect the strong winter tyre business of 2023 to be repeated in
2024. There is also the possibility that more revenues will be shifted to
the platform business in the current year than in the previous year.
Accordingly, the management is planning revenues in the range of EUR 450-470
million in the current financial year.
The company also expects to further reduce costs in the current year. For
operating EBITDA for the year as a whole, the Management Board is planning a
range of EUR 19-21 million, depending on revenues. Accordingly, we expect to
stabilise the operating result achieved in 2023 in the current year.
The complete report for the 2023 fiscal year can be downloaded from the
website www.delti.com in the "Investor Relations" section.
Delticom Group - Key Figures
2023 2022 -/+ (%, %p)
GMV EURm 586 582 +0.8
Revenues EURm 476 509 -6.6
Total income EURm 503 543 -7.4
Gross margin % 24.4 21.6 +2.8
Gross profit EURm 143 144 -0.3
EBITDA EURm 20.6 15.0 +37.6
Operative EBITDA EURm 21.8 15.0 +45.3
EBITDA margin % 4.3 2.9 +1.4
EBIT EURm 11.5 4.2 >100
Net income for the period EURm 8.0 2.8 >100
Earnings per share EUR 0.54 0.19 >100
Total assets EURm 192 195 -1.9
Inventories EURm 41.2 43.3 -4.9
Liabilities from trade payables EURm 61.5 53.9 +14.2
Investments EURm 5.6 2.6 >100
Equity EURm 47.6 39.7 +20.1
Equity ratio % 24.9 20.3 +4.5
Return on equity % 16.8 7.1 +9.8
Liquidity EURm 7.3 3.0 >100
Operating cash flow EURm 27.5 -2.4 >100
About Delticom:
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.
As part of the service, the ordered products can be sent to one of
Delticom's around 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 last year, the company employed 172 people.
Delticom AG shares have been listed in the Prime Standard of Deutsche Börse
since October 2006 (ISIN DE0005146807).
On the internet at: www.delti.com
Contact:
Delticom AG
Investor Relations
Melanie Becker
Brühlstraße 11
30169 Hannover
Phone: +49 (0)511-93634-8903
Fax: +49 (0)511-8798-9138
Email: melanie.becker@delti.com
---------------------------------------------------------------------------
19.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
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: 1884835
End of News EQS News Service
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1884835 19.04.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
DELTICOM AG NA O.N. | 514680 | Xetra | 2,720 | 02.05.24 17:39:45 | +0,080 | +3,03% | 0,000 | 0,000 | 2,600 | 2,640 |
