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Delticom: 9-Monthly Report 2008
Revenues up + 20.0 % to ¤ 175.2 million / EBIT increased by + 29.8 % to ¤ 8.9 million / Outlook for 2008 confirmed
Revenues in the key eCommerce segment increased in the reporting period by + 20.1 % year-on-year, from ¤ 132.2 million to ¤ 158.7 million. In the Wholesale division revenues were up + 18.8 %, from ¤ 13.9 million to ¤ 16.5 million. In the first nine months of 2008 the group acquired 485 thousand new customers while 170 thousand customers again made a purchase from Delticom. As a result, on 30 September 2008 the customer base in the eCommerce segment totalled 2.4 million customers.
Over the past few months, Delticom recorded again double-digit growth rates in its non-domestic markets. Furthermore, the company succeeded in growing its business in its home market, against the market trend. In total, the eCommerce division registered sales in EU countries of ¤ 150.3 million (+ 17.4 % compared to the prior-year period) and ¤ 24.9 million in other countries (+ 38.4 %).
EBIT improved in the reporting period by + 29.8 % to ¤ 8.9 million (9M 07: ¤ 6.9 million), an EBIT margin of 5.1 % (9M 07: 4.7 %). Consolidated net income was ¤ 6.6 million or ¤ 1.67 per share (basic). Earnings per share thus increased + 36.1 % against the 9M 07 figure of ¤ 1.22.
Delticom's management confirms the outlook for 2008, with revenues of ¤ 240 - 260 million and an EBIT margin of 5 - 6 %. Frank Schuhardt, CFO of Delticom AG, commented on the current course of business: "The European winter tyre season has started well. Given the current economic situation consumers are increasingly looking for less expensive alternatives to bricks-and-mortar retail. With our online-shops like www.mytyres.co.uk we benefit from this trend."
The full 9-Monthly Report of 2008 can be downloaded from www.delti.com ("Investor Relations" section).
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