Delticom AG: Preparation and audit of the annual financial statements completed; no dividend for 2018; Annual General Meeting on August 12, 2019
Hanover, 25 June 2019 – The preparation and audit of the annual financial statements and the consolidated financial statements of Delticom AG, (WKN 514680, ISIN DE0005146807, ticker symbol DEX), Europe’s leading online retailer of tyres and automotive accessories and expert in the field of efficient warehouse logistics, as of December 31, 2018, was completed today. KPMG AG Wirtschaftsprüfungsgesellschaft has issued an unqualified audit certificate for the financial statements.
Delticom AG achieved EBITDA of € 9.0 million in the past fiscal year according to audited IFRS group figures, a decrease of 3.3 % compared to the previous year’s figure of € 9.3 million. EBITDA for fiscal year 2018 is thus € 3.0 million lower than the preliminary figure announced in March. The valuation of All you need GmbH, which was acquired by Delticom last year, resulted in an adjustment requirement of € 2.5 million affecting net income.
While earnings before taxes were positive at € 426 thousand (2017: € 1.7 million), consolidated net income amounted to € –1.7 million (2017: € 1.1 million). Earnings per share amounted to € –0.13 (diluted and undiluted; 2017: € 0.09). The earnings development is based on a significantly higher tax expense of € 2.1 million (2017: € 0.5 million) compared to the previous year, which resulted primarily from deferred tax expenses (totaling € 1.5 million), in particular in connection with loss carryforwards.
Against the backdrop of last year’s earnings performance and in view of the investments required in the current year to create the structures necessary to return to a sustainably profitable growth course, the Management Board has decided to propose to the Annual General Meeting to not pay any dividend for the past financial year (2017: € 0.10 per share). This step goes hand in hand with the objective of strengthening Delticom AG’s earnings power in order to enable shareholders to participate in Delticom’s business success again in the future.
The Annual General Meeting will be held in Hanover on 12 August 2019.
Delticom will publish its 2018 financial statement on 26 June 2019 on its website www.delti.com in the Investor Relations section.