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Delticom publishes Q1 business development
Some springlike days in March favored an early start to the summer tyres season in our core business in Germany. In 2016, the summer tyres business had failed to start until after the Easter holidays and thereby gain momentum at the end of March due to continued cold temperatures.
As a consequence, the Delticom Group achieved a 19.9 % increase in revenues to € 126.8 million during the first three months of the current financial year compared with the previous year's quarter (Q1 2016: € 105.8 million). Earnings before interest, tax, depreciation and amortization (EBITDA) were positive thanks to the pleasing revenues growth during the first three months, and above the previous year's € -0.4 million as a consequence.
The number of newly acquired customers also recorded a positive trend during the first quarter of 2017. More than 11 million customers have now made purchases in one of Delticom's online shops since the company was founded. Almost 30 new online shops were rolled out worldwide during the first three months of the current year.
The weather in April this year proved extremely changeable. A warm start was followed in midmonth by late winter cold weather with snow and spring frosts across large parts of Germany. April was the coldest April for 16 years with an average monthly temperature of 7.5 degrees. Market experts anticipate that retailers sold around 5 % fewer replacement car tyres to consumers during the first four months of the year due to weak sales trends in April. The management is satisfied with the Delticom Group's business growth during the first four months of the year.
The company confirms the full-year forecast for 2017. Accordingly, the Delticom Group continues to aim for revenues of € 650 million for the current financial year and EBITDA of at least € 16 million.
Delticom will report on the progress of its summer tyre business when it publishes its half-year report on August 14, 2017.
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