Delticom raises 2009 earnings forecast
During the current recession the consumer climate has been surprisingly robust in many parts of Western Europe so far. In the first half-year of 2009, the European tyre trading was negatively impacted by special effects such as scrappage schemes, but prices remained largely stable. Delticom - Europe's largest online tyre retailer - was able to continue its positive business progress of recent years.
Although consumer confidence still seems to buck the economic downturn, economists and sector experts expect that the recession will affect tyre buyers soon. For this reason, Delticom's management continues to guide cautiously optimistic for a 10% year-on-year increase in revenues for 2009. In preparation for the anticipated decline of consumer demand, Delticom has optimised distribution channels, product offerings and margins and has implemented further measures of cost control over the course of the last months. For the remainder of the year, company management will continue to actively counter macroeconomic risks. Due to the good earnings situation in the first half of the year, Delticom's management is raising its earnings expectations and now forecasts an EBIT margin of 7% (previously 6%).
Delticom AG will publish preliminary revenue figures on July 30, 2009, and complete first-half 2009 results on August 13, 2009.
About Delticom AG
Delticom, Europe's leading online tyre retailer, was founded in Hanover in 1999. With 102 online shops in 35 countries, the company offers its private and business customers an unequalled assortment of excellently priced car tyres, motorcycle tyres, truck tyres, bus tyres, rims, complete wheels (pre-mounted tyres on rims), selected replacement car parts and accessories, motor oil and batteries. Delticom carries more than 100 tyre brands and more than 25,000 tyre models. Customers receive extensive information on product features, pricing and alternatives. Delticom delivers either directly to the customer's home address, or to one of the more than 24,000 service partners - affiliated garages which take delivery of tyres and then install these on the customer's vehicle. Delticom's Wholesale division also sells tyres to wholesalers domestically and abroad.
On the Internet at: www.delti.com
Selected online shops: www.reifendirekt.de, www.123pneus.fr, www.mytyres.co.uk, www.reifendirekt.ch