30169 Hannover, de
+49 (611) 205855-13
Preliminary revenues for 2007 at upper end of forecast
- Revenues total € 214 million – up 24% year-on-year
- EBIT between € 12.0 and € 12.5 million – previous year € 10.2 million
- More than 600,000 new eCommerce customers
- Foreign expansion gaining ground: Formation of Delticom North America Inc.
Delticom AG (German Securities Code (WKN) 514680, ISIN DE0005146807, stock exchange ticker DEX), Europe's leading Internet tyre retailer, has substantially increased its revenues based on preliminary consolidated IFRS figures. Revenues have surged by around 24% year-on-year to € 214 million (previous year: € 173 million), at the upper end of the company's forecast (€ 210 – 215 million). At the same time, EBIT of between € 12.0 million and € 12.5 million is anticipated for financial year 2007 (previous year: € 10.2 million).
eCommerce revenues totalled € 194 million, up 25% compared to 2006 (€ 155 million). Revenues in the Wholesale division were up year-on-year from € 18 million to € 20 million.
Delticom's strong growth in 2007 was again due to the ongoing positive growth in business at its online shops such as www.reifendirekt.de. Delticom now has a total of 86 online shops in 30 countries. More than 600,000 new customers were acquired in 2007, raising the total number of customers to more than 1.8 million. There was also constant growth in the number of partner workshops: right now customers can have their tyres fitted in more than 20,000 workshops worldwide – with more than 5,000 in Germany alone.
In total, business with winter tyres in Germany was not as strong as in previous years: In mid-December, the BRV (Bundesverband Reifenhandel – German Tyre Retail Association) announced that a substantially lower number of tyres were sold in Germany in 2007 compared to 2006. This was due to reasons including the mild weather last winter and the fact that sales in 2006 were inflated by new statutory regulations. As a tyre retailer, Delticom was not able to fully break away from these developments, however it was able to increase its revenues last fiscal year in contrast to the trend in Germany.
International sales markets also became more important for Delticom in 2007. A key milestone in the company's internationalization strategy is the recently completed formation of Delticom North America Inc. in Portland, Oregon, USA. The Delticom Group is thus further expanding its presence in the North American online tyre market, creating the foundations for long-term sustainable growth into the US market. "Forming our own subsidiary in North America puts us right where our American customers are," commented Philip von Grolman, the Managing Board member responsible for the company's North American business.
Rainer Binder, a member of Delticom AG's Managing Board and Co-CEO commented on the preliminary revenues: "Fiscal year 2007 was excellent for Delticom. Although developments in the German market were not particularly pleasing, we were still able to reach our targets for 2007 as a high-growth, internationally oriented company. And what's most important: as the cost leader we were again able to combine growth with high margins."
Delticom will publish its full 2007 financial statements on 26 March 2008 on its Web site (www.delti.com) in the Investor Relations section.
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