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Online retailer Delticom: Financing secured until the end of 2021

  • Europe’s leading online tyre retailer has reached an agreement with the banks to continue financing until the end of 2021
  • Change process shows first successes
  • Business with winter tyres is going well

Hanover, December 16, 2019 – The Delticom Group, with ReifenDirekt.de Europe’s largest online tyre retailer, has reached an agreement with the financing banks on an extension of the financing with a runtime until the end of 2021. A corresponding contract documentation was signed by both parties.

“Now we are in calmer waters,” says Delticom’s Management Board Andreas Prüfer, “and can concentrate consistently on our business goals.”

The goal is to establish Delticom as a future-proof company through a far-reaching change process and to achieve a sustained increase in profitability. By focusing on the core business “Tyres Europe”, Delticom aims to return to the profit zone as quickly as possible.

The change concept and the initial successes in its implementation have convinced the banks and trade credit insurers of the future viability of the Delticom Group. The Management Board expects to be able to generate a positive operating EBIT in the core business “Tyres Europe” by 2020. The continuation of the Group activities that are not part of the core business is currently under review.

The initiated optimization of processes at ReifenDirekt is already paying off for the customer in the winter business. ReifenDirekt can deliver faster and is therefore considerably more efficient than a year ago. “We have done our homework with the financing, we are on the best way with the restructuring”, sums up Prüfer: “Now we have to get as much out as possible of our season with the highest revenues. And that looks good. Business with winter tyres is going well.”

About Delticom:

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 100 brands and over 25,000 tyre models for cars, motorcycles, trucks, commercial vehicles and buses. Complete wheels and rims complete the product range. The company operates 475 online shops and online distribution platforms in 73 countries, serving more than 14 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 assembly 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 one of its most important assets.

In fiscal year 2018, the AG generated revenues of more than 645 million euros with an average of 235 employees.

Delticom AG shares have been listed in the Prime Standard of Deutsche Börse since October 2006 (ISIN DE0005146807).

On the internet at: www.delti.com

Contact:

Delticom AG
Investor Relations
Melanie Gereke
Brühlstraße 11
30169 Hannover
Phone: +49 (0)511-93634-8903
Fax: +49 (0)511-8798-9138
Email: melanie.gereke@delti.com

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