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Delticom AG publishes 2009 annual report
Revenues EUR 311.3 million (+20.2%) / EBIT EUR 29.4 million (+78.8%), EBIT margin 9.4% / Net income EUR 20.2 million or EUR 1.71 Euro per share (+72.4%) / Proposed dividend: EUR 1.70 per share (+70%)
CEO Rainer Binder: "The course of business in the financial year 2009 was a very successful one for Delticom, even more so if viewed in the context of the bruised economy. One significant contributing factor to our results was the unusually favourable, snowy winter weather in the closing quarter." In Germany new car registrations resulting from the scrappage scheme created further selling opportunities for winter tyres.
As in the previous years, the E-Commerce division is the main growth driver of the company. Revenues in this core segment rose 24.8% to EUR 296.5 million (2008: EUR 237.6 million). The ADAC Tyre Monitor 2010 reveals that drivers are definitely inclined towards buying their tyres online. During 2009, 6.7% of the ADAC members purchased their tyres over the Internet (compared to 4.9% in 2008). In the 18 to 39 age cohort, the number rose to 15.4% (2008: 8.9%). There is reason to believe that these figures will accelerate in years to come: 15.8% of those polled in this study stated that they wanted to make future tyre purchases online. In the cohort of the younger, more Internet-savvy buyers this number jumped to a remarkable 29.6%.
Frank Schuhardt, CFO: "In difficult economic times, consumers are trading down and increasingly search for lower-priced alternatives, especially on the Internet. Consequently, our E-Commerce division will continue to make a strong contribution to both top- and bottom line over the coming months. We anticipate an increase in revenues of up to 10% and an EBIT margin of 8%. This is an ambitious goal, but one which can be achieved if our business develops in a positive way."
Management and Supervisory Board will allow the shareholders to partake of the firm's success, as has been the case in past years. Subject to the approval of the Annual General Meeting on 11 May 2010, Delticom AG will pay out a dividend of EUR 1.70, thus 70% more than in the previous year.
The full Annual Report of 2009 can be downloaded from the website www.delti.com within the "Investor Relations" area.
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