12.11.2015 Delticom AG  DE0005146807

DGAP-News: Delticom publishes 9-Monthly Report 2015


 
DGAP-News: Delticom AG / Key word(s): 9-month figures/Quarter Results Delticom publishes 9-Monthly Report 2015 12.11.2015 / 08:04 --------------------------------------------------------------------- Delticom publishes 9-Monthly Report 2015 Hanover, 12 November 2015 - Delticom (German Securities Code (WKN) 514680, ISIN DE0005146807, stock market symbol DEX), Europe's leading online tyre dealer, has published its full report for the first nine months of 2015. In 9M15 the company recognized revenues of EUR 354.2 million, an increase of 12.7 % after EUR 314.1 million in the prior-year period. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the reporting period came in at EUR 8.6 million (9M14: EUR 8.0 million, +7.3 %). EBIT came down by 10.3 % from EUR 1.8 million to EUR 1.6 million due to higher depreciations. Business in the first nine months Market environment. The negative trend observed in the first half of the year with a decline in replacement tyre business continued into the third quarter. According to industry association, summer tyre sales in Germany were down by 9.3% in 9M15 while winter tyre sales to consumers decreased by 3.4%. Consequently, car tyre sales in the first nine months of the year were down nearly 8 % year on year. Revenues. In 9M15 the company recognized revenues of EUR 354.2 million, an increase of 12.7 % after EUR 314.1 million in the prior-year period. Revenues in the E-Commerce division with its 202 online shops increased year-on-year by 13.2 %, from EUR 307.2 million to EUR 347.7 million. In the third quarter, the company generated revenues of EUR 104.0 million (Q314: EUR 88.1 million, +18.1 %). Q315 revenues in the E-Commerce division increased 18.0 %, amounting to EUR 101.2 million. Gross margin. Group COGS increased in the reporting period by +14.6 % from EUR 235.1 million to EUR 269.4 million. 9M15 gross margin came in with 23.9 %, after 25.2 % in 9M14. The quarterly gross margin decreased from 26.1 % in Q314 to 25.9 %. Personnel expenses. On 30.09.2015, the company had a total of 145 employees (30.09.2014: 257). In the reporting period on average 148 staff members were employed at Delticom group (9M14: 266). Personnel expenses amounted to EUR 7.3 million (9M14: EUR 11.4 million, -36.2 %). This decrease is mainly due to the significant workforce reduction at Tirendo. The 9M15 personnel expenses ratio stood at 2.1 % (staff expenditures as percentage of revenues, 9M14: 3.6 %). Other operating expenses. Other operating expenses amounted to EUR 81.2 million (9M14: EUR 68.2 million, +19.0 %). Among the other operating expenses, transportation costs is the largest line item. They rose in the reporting period from EUR 28.1 million to EUR 34.1 million. The 21.4 % increase comes along with the sales country-mix and the higher business volume. The share of transportation costs against revenues went up from 8.9 % in 9M14 to 9.6 % in 9M15. Marketing. For the year so far, marketing expenses grew by 3.0 % to EUR 15.9 million (9M14: EUR 15.4 million), equating to a ratio of 4.5 % (9M14: 4.9 %). To push an early start into the winter season, marketing spent in Q315 was increased from EUR 3.8 million to EUR 5.2 million. As a result, Q315 marketing expense ratio with 5.0 % of revenues was higher than last year's 4.4 %. Depreciation. Depreciation for 9M15 rose by 12.6 % from EUR 6.2 million to EUR 6.9 million. This increase was essentially due to extraordinary depreciation on property, plant and equipment in H115, which was required in relation to preparations for the closure of the Lehrte warehouse at the end of the current financial year. EBITDA. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the repor-ting period came in at EUR 8.6 million (9M14: EUR 8.0 million, +7.3 %). This equates to an EBITDA margin of 2.4 % (9M14: 2.5 %). EBITDA in the third quarter amounted to EUR 2.0 million, after EUR 1.8 million in Q314 (+10.4 %). Quarterly EBITDA margin stood at 1.9 % (Q314: 2.0 %). Income taxes. In 9M15 the expenditure for income taxes was EUR 0.7 million (9M14: EUR 2.1 million). This equates to a tax rate of 55.5 % (9M14: 175.5 %). The tax rate in the reporting period diverges from the normal tax rate of the Delticom Group. This effect is due to non-deductible losses resulting from the sale of all shares in Tyrepac Pte. Ltd., Singapore and additions under trade tax law. Net income. Consolidated net income totalled EUR 0.6 million after EUR -0.9 million in 9M14. Net income for Q315 amounted to EUR -0.1 million (Q314: EUR -0.7 million). For the nine months, earnings per share (EPS) were EUR 0.05 (undiluted, 9M14: EUR -0.08). Inventories. Among the current assets, inventories is the biggest line item. Since the beginning of the year their value grew by EUR 43.4 million to EUR 99.5 million (30.09.2014: EUR 117.4 million). Receivables. Trade receivables usually follow the seasons, but reporting date effects are often unavoidable. At the end of the quarter, the accounts receivable amounted to EUR 25.4 million (30.09.2014: EUR 17.2 million). Payables. In the wake of the inventory build-up, the accounts payable increased from EUR 75.9 million at the beginning of the year by EUR 33.6 million to EUR 109.5 million (30.09.2014: EUR 117.8 million). Cash flow and liquidity position. Mainly due to more funds tied up in net working capital, the cash flow from ordinary business activities of EUR -8.4 million for the period under review was lower than last year (9M14: EUR 4.6 million). In the reporting period Delticom invested EUR 0.7 million into property, plant and equipment, after EUR 0.5 million the previous year. Investments into intangible assets in 9M15 amounted to EUR 0.9 million (9M14: EUR 0.8 million). Further EUR 0.5 million (9M14: EUR 0.0 million) were invested into financial assets. In total, the cash flow from investments was EUR -2.0 million, after EUR -1.3 million the previous year. In the reporting period, Delticom recorded a cash flow from financing activities amounting to EUR 2.8 million, thereof the dividend payout for the last financial year of EUR 3.0 million and disbursements due to redemption of loans of EUR 2.6 million. The cash outflow was offset by inflows from shortterm financial liabilities of EUR 8.5 million. Liquidity (cash and cash equivalents plus liquidity reserve) as of 30.09.2015 totalled EUR 23.1 million (30.09.2014: EUR 24.7 million, 31.12.2014: EUR 29.9 million). The company's net cash position amounted to EUR 9.8 million (liquidity less liabilities from current accounts, 30.09.2014: EUR -3.2 million). Outlook. Business at Delticom also benefited from the early start to the winter season at the start of the current quarter. In early November, Delticom raised its guidance for full-year revenues in the wake of an upturn in revenue growth. On the basis of current planning, consolidated group revenues will lie in a range of between EUR 530 million and EUR 540 million on a full-year view. The business development in the remaining weeks of the year is accompanied by a certain degree of uncertainty given the current weather conditions. Revenues in November and December 2015 could fall short of the previous year's level. Until the end of the year, Delticom will continue to pursue its aim of increasing sales volumes year on year and reducing inventories as planned. If unit sales increase to a greater extent than revenues, a rise in sales will not necessarily lead to an increase in earnings due to higher volume-related costs. Management therefore confirms the full-year guidance for earnings before interest, taxes, depreciation and amortisation (EBITDA). Delticom is still aiming to at least match EBITDA of the 2014 financial year in absolute terms (EUR 15.3 million). Drivers all over the world are discovering the benefits of buying their tyres online from one of Delticom's online stores. Management therefore continues to anticipate the acquisition of over one million new customers for the Delticom Group in 2015 as a whole. The full report for the first nine months 2015 stands ready for download within the "Investor Relations" section of the website www.delti.com. Company profile: Delticom is Europe's leading online tyre retailer. Founded in 1999, the Hanover-based company has more than 200 online shops in 41 countries, among others ReifenDirekt, www.mytyres.co.uk in UK and www.123pneus.fr in France, as well as the Tirendo shops which enjoy a high level of recognition, not least due to its brand ambassador, Sebastian Vettel. Delticom offers a wide range of products for its private and business customers: more than 25,000 models from over 100 tyre brands for cars, motorcycles, commercial vehicles and buses, but also complete wheels, motor oil, replacement parts and accessories. Customers enjoy all the advantages of modern E-Commerce: convenience in order placing, quick, efficient delivery, clear cost information and, last but not least, low prices. The products are delivered in two business days to any address the customer chooses. Alternatively, Delticom delivers the tyres to one of more than 42,000 service partners (9,000 in Germany alone) for professional fitting directly on to the customer's vehicle at a reasonable price. On the Internet at: www.delti.com Contact: Delticom AG Investor Relations Melanie Gereke Brühlstraße 11 30169 Hannover Tel.: +49(0)511-936 34-8903 Fax: +49 (0)89-208081147 e-mail: [email protected] --------------------------------------------------------------------- 12.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Delticom AG Brühlstraße 11 30169 Hannover Germany Phone: +49 (0)511 93634 8000 Fax: +49 (0)511 33611 655 E-mail: [email protected] Internet: www.delti.com ISIN: DE0005146807 WKN: 514680 Listed: Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------- 412143 12.11.2015


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 667,71 645,72 625,76 541,26 585,37 509,30 476,00
EBITDA1,2 9,27 9,00 -6,64 15,04 17,09 15,00 21,60
EBITDA-Marge3 1,39 1,39 -1,06 2,78 2,92 2,95
EBIT1,4 2,04 1,09 -42,05 5,36 7,06 4,22 10,30
EBIT-Marge5 0,31 0,17 -6,72 0,99 1,21 0,83 2,16
Jahresüberschuss1 1,12 -1,70 -40,78 6,87 6,81 2,81 5,80
Netto-Marge6 0,17 -0,26 -6,52 1,27 1,16 0,55 1,22
Cashflow1,7 15,38 -11,71 -22,45 35,89 21,93 -5,52 0,00
Ergebnis je Aktie8 0,09 -0,13 -3,27 0,55 0,49 0,19 0,31
Dividende8 0,10 0,00 0,00 0,00 0,00 0,00 0,50
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
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Delticom
WKN Kurs in € Einschätzung Börsenwert in Mio. €
514680 2,340 Kaufen 34,71
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
11,14 17,30 0,65 -24,63
KBV KCV KUV EV/EBITDA
0,84 - 0,07 5,44
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 14.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
13.05.2024 14.08.2024 14.11.2024 12.04.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
3,27% 8,64% 5,88% 34,87%
    
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E-Commerce , 514680 , DEX , XETR:DEX