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Delticom AG publishes 3-monthly report 2010
Revenues totalled EUR 74.5 million - up 45.9% year-on-year / 51.3% revenue growth in E-Commerce division / EBIT Q1'10 EUR 5.9 million, EBIT margin 7.9%
One of the main reasons for the marked sales increase was the unusually snowy weather that lasted into February. This allowed for further selling opportunities for winter tyres following the already very strong Q4'09. With the rising temperatures in March, car drivers started to change over from winter to summer tyres.
The E-Commerce division continued to be the main growth driver of the company. Revenues in this core segment rose 51.3% to EUR 70.7 million (Q1'09: EUR 46.7 million), while revenues in the Wholesale division dropped by 12.2% yearonyear, down to EUR 3.7 million (Q1'09: EUR 4.3 million).
Consolidated net income in Q1'10 was EUR 4.0 million or 0.34 per share, up 110.6% from previous year's EUR 0.16. A structural change in the company's profitability cannot be derived from the first quarter only, which in any case plays a somewhat less important role for tyre dealers. For this reason, management reiterates its EBIT margin guidance of 8% for the full year 2010, assuming a supportive course of business.
Following a very strong first quarter, and a satisfactory course of the summer tyre business so far, the management board is now confident to raise 2010 revenues by at least 10% yearonyear.
The complete report for the first quarter of 2010 can be downloaded from the website www.delti.com within the "Investor Relations" area.
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