Delticom AG: Successful first virtual Annual General Meeting
Hanover, July 8, 2020 – Yesterday, Tuesday, Delticom AG (German Securities Code (WKN) 514680, ISIN DE0005146807, stock market symbol DEX), Europe’s leading online retailer for tyres and complete wheels, held its fourteenth Annual General Meeting.
Due to the corona pandemic, the Annual General Meeting was conducted virtually this year – for the protection of the persons involved. The Annual General Meeting was broadcast on the company’s website for all of Delticom AG’s registered shareholders. Shareholders had the opportunity to ask their questions in advance and could exercise or transfer their voting rights, among others, online.
Delticom AG, which today operates the leading online tyre shops for private and commercial end customers in Europe with its brands ReifenDirekt, MotorradreifenDirekt and Autoreifenonline, recorded an attendance of 82 % of its issued share capital at the Annual General Meeting. The shareholders approved all of the items on the agenda with a large majority.
According to Delticom Management Board member Andreas Prüfer in his speech, the past fiscal year 2019 was “the most difficult in our 20-year company history”. Against the backdrop of a tense earnings and liquidity situation, Delticom initiated a restructuring process in mid-2019, which culminated in a restructuring agreement with the financiers in December of last year. At the heart of the restructuring concept is the refocusing on the core business – the online trade with tyres and complete wheels in Europe –, accompanied by divesting loss-making business areas.
In his report on the 2019 annual financial statements, CFO Thomas Loock referred to the special charges resulting from the extraordinary effects of € 16.7 million in the course of restructuring and refocusing. According to Loock, EBITDA adjusted by this amount amounts to plus € 10 million: “This figure allows us to look to the future with hope. Our operating result in our core business is good and the latter has a solid profitability base”.
In addition, the focus on profitability and the measures taken to optimize costs are beginning to take effect. With lower revenues in the first quarter of 2020 compared to the previous year and restructuring costs of € 2.2 million, EBITDA was already € 0.3 million better compared to the same period in 2019.
Delticom AG sees further growth potential in Europe, which it aims to leverage in future with an optimized market strategy and improved customer segmentation measures. With this and the consistent implementation of the turnaround measures, the company aims to return to the path of profitable growth and expects positive results again as early as 2021.
The Semi-Annual Report 2020 will be available for download on August 13, 2020 on the website www.delti.com in the “Investor Relations” section.
With the brand ReifenDirekt, Delticom AG is the leading company in Europe for the online distribution of tyres and complete wheels.
The product portfolio for private and business customers comprises an unparalleled range of more than 600 brands and around 18,000 tyre models for cars and motorcycles. Complete wheels and rims complete the product range. The company operates 440 online shops and online distribution platforms in 75 countries, serving around 15 million customers.
As part of the service, the ordered products can be sent to one of Delticom’s approximately 40,000 service partners worldwide for mounting at the customer’s request.
Based in Hanover, Germany, the company operates primarily in Europe and the USA and has extensive expertise in the development and operation of online shops, internet customer acquisition, internet marketing and the establishment of partner networks.
Since its foundation in 1999, Delticom has built up comprehensive expertise in designing efficient and fully integrated ordering and logistics processes. The company’s own warehouses are among its most important assets.
In fiscal year 2019, Delticom AG generated revenues of around 626 million euros. At the end of last year, the company employed 242 people.
The shares of Delticom AG have been listed in the Prime Standard of the German Stock Exchange since October 2006 (ISIN DE0005146807).
On the internet at: www.delti.com
Delticom AG Investor Relations
Phone: +49 (0)511-93634-8903
Fax: +49 (0)511-8798-9138