Delticom: Strong Q3 revenues growth

(PresseBox) ( Hannover, )
Delticom AG (German Securities Code (WKN) 514680, ISIN DE0005146807, ticker symbol DEX), Europe's leading Internet tyre dealer, recorded revenues totalling EUR 257 million in the first nine months of fiscal year 2010 - according to preliminary figures. Compared with the prior-year period the company was thus able to grow its revenues by nearly 28% (9M'09: EUR 201.6 million). Earnings before interest and taxes (EBIT) increased from EUR 14.7 million in 9M'09 to EUR 22.5 million, an EBIT margin of 8.8%.

In the third quarter the company generated revenues of around EUR 80 million - well above the Q3'09 revenues of EUR 62.4 million (+28%). EBIT improved in the reporting period to EUR 5.8 million (Q3'09: EUR 4.5 million). This equates to an EBIT margin of 7.3% (Q3'09: 7.3%).

Many motorists change over from summer to winter tyres only after winterly road conditions start to set in. To date, however, it has rarely snowed, and only at high altitudes. Should the forthcoming winter in Europe turn out to be as snowy as in 2009, some tyre brands and models might become scarce. In Germany, additional shortages are likely in case the use of winter tyres is regulated by law as of November.

The Management Board is confident that Delticom is able to achieve the target of 9% EBIT margin for the full year, even if demand for winter tyres receives no further tailwind from snowy weather or new statutory regulations. In view of the good business trends to date, Delticom anticipates 2010 revenue growth of at least 15% year-on-year (previously: at least +10%).

Delticom AG will publish its full financial statements for the first nine months of 2010 on 9 November 2010. The report can be downloaded from the website within the "Investor Relations" area.
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