DGAP-News

Delticom publishes Semi-Annual Report 2022: Increase in revenues in core business by 2.5 % to € 220 million, EBITDA up by 10.4 % - Seite 2

 

Overall statement

 

In a challenging market environment, Delticom succeeded in exploiting existing market opportunities in its core business and further improving profitability in line with its targets.

 

Business in the first six months

 

Market environment. In view of the rising cost of living and energy as a result of the war in Ukraine, general consumer sentiment in Germany also deteriorated in the first six months of the current year. According to the German E-Commerce and Distance Selling Trade Association (bevh), this also affected domestic online retailing in the first half of the year, which recorded a 9.6 % decrease in revenues in the second quarter of 2022 compared to the same period of the previous year. On a half-year basis, e-commerce revenues in Germany were 1.3 % below the previous year.

 

Replacement tyre business. According to estimates by the European Tyre & Rubber Manufacturers' Association (ETRMA) and the German Rubber Industry Association (WdK), passenger car tyres sold by retailers to consumers in Germany in the first six months of the current year were 1.0 % lower than in the same period last year.

 

ETRMA's market data for the tyre industry show that the European replacement tyre market in the consumer tyre sub-segment (passenger car, SUV and light truck tyres), the largest in terms of volume, grew by 7.3 % in the first half of the year compared to the first six months of 2021. While a decrease of 5 % was registered for summer tyres, sales of all-season and winter tyres increased by almost one third each (27 % and 28 % respectively). These market figures are sales from the industry to the trade (sell-in).

 

Revenues. At the beginning of the year, the company sold its shares in the US subsidiary. For this reason, the revenues for the core business Tyres Europe are shown in comparison to the previous year. In addition, the reported consolidated revenues incl. USA in the previous year are stated as “reported”. In the first six months of the current fiscal year, Delticom Group's core business Tyres Europe generated revenues of € 220 million, an increase of 2.5 % compared to the previous year (H1 2021 reported: € 249 million, thereof € 35 million USA).