7 % revenues growth, 11 % increase in operating EBITDA

Delticom publishes Semi-Annual Report 2024: 7 % revenues growth, 11 % increase in operating EBITDA

Hanover, August 14, 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 publishes its report for the first half year of 2024.

• Gross merchandise volume (GMV) totalled € 259 million (H1 2023: € 244 million)
• Revenues amount to € 212 million (H1 2023: € 198 million)
• Increase in operating EBITDA by 11 %
• Equity ratio increased from 17.5 % to 20.6 %
• Full-year forecast confirmed

In the first six months of the current fiscal year, Delticom AG continued to focus on profitable growth and increased its operating EBITDA from € 7.2 million to € 8.0 million.

The replacement tyre business in Germany continued its slight recovery from 2023 in the first half of the year. According to initial estimates by market experts, around 3 % more car tyres were sold by dealers to consumers in Germany in the first six months of the current year compared to the same period of the previous year. While no year-on-year growth was recorded in the summer tyre business, demand for all-season tyres increased by around 9 %. Sales in the winter tyre business were 3 % lower than in the first six months of 2023. According to the German E-Commerce and Distance Selling Trade Association (bevh), e-commerce revenues in Germany were down 1.2 % year-on-year in the first six months of the current year. However, a small year-on-year increase in revenues of 0.2 % was recorded in the second quarter.

In the first six months of the current fiscal year, the Delticom Group generated revenues of € 212 million, an increase of 7.2 % after € 198 million in H1 2023. In 2023, the previous shop business was supplemented by platform business. The company provides the technical infrastructure and its sales and process know-how to enable external third parties to sell goods online to Delticom's private and commercial end customers and realises commission income for the corresponding revenues shares. The gross merchandise volume amounts to € 259 million in H1 2024 (H1 2023: € 244 million, +6.1 %).

Overall, the Delticom Group generated revenues of € 97 million in the first quarter of the current fiscal year (Q1 2023: € 78 million, +24.0 %). Given the summery temperatures in February and March, good sales and pre-sales were realised in the business with private and commercial end customers. The start of the season was therefore brought forward compared to the same quarter of the previous year. The gross merchandise volume for Q1 2024 totalled € 119 million (Q1 2023: € 96.2 million, +23.8 %).

In the second quarter, the company generated revenues of € 115 million, a decrease of 3.7 % compared to the previous year (Q2 2023: € 120 million). Against the backdrop of the weather-related increase in demand in Q1, revenues in the second quarter were lower than in the previous year. The gross merchandise volume for the second quarter totalled € 139 million (Q2 2023: € 148 million, -5.5 %).

EBITDA totalled € 7.8 million in the reporting period, up 15.2 % on the previous year (H1 2023: € 6.8 million). This corresponds to an EBITDA margin of 3.7 % (H1 2023: 3.4 %). Operating EBITDA totalled € 8.0 million, compared to € 7.2 million in the same period of the previous year (+10.9 %).

Against the backdrop of increased depreciation and amortisation, earnings before interest and taxes (EBIT) amounted to € 2.8 million after € 3.2 million in H1 2023 (-10.8 %).

The tax result for the first six months totalled € -1.6 million (H1 2023: € -0.8 million). H1 2024 includes tax expenses of around € 1.1 million not related to the accounting period. Consolidated net income for the reporting period therefore amounts to € 0.1 million (H1 2023: € 1.5 million).

The company continues to forecast revenues of between € 450 million and € 470 million for the current financial year and is therefore sticking to its forecast from March 2024. Market conditions are currently not expected to pick up or deteriorate over the remainder of the year. As before, we assume that the strong winter business in 2023 will not be repeated this year. As in previous years, business performance for the year as a whole will largely depend on the course of the fourth quarter. For operating EBITDA for the year as a whole, the management is still aiming for a range of € 19 million to € 21 million, depending on revenues.

The report for the first six months 2024 stands ready for download on the website www.delti.com within the “Investor Relations” section.


Delticom Group – Key Figures

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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 around 600 brands and over 80,000 tyre models for cars and motorcycles. Complete wheels and rims complete the product range. The company operates 339 online shops and online distribution platforms in 68 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 last year, the company employed 172 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


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