Delticom publishes Semi-Annual Report 2025: Revenues growth of 12 %

Sehnde, August 14, 2025 – Delticom AG (German Securities Code (WKN) 514680, ISIN DE 0005146807, stock market symbol DEX), Europe's leading online retailer for tyres and complete wheels, today publishes its report for the first half year of 2025.

• Gross merchandise volume (GMV) totalled € 285 million (H1 2024: € 259 million)
• Revenues amount to € 237 million (H1 2024: € 212 million)
• Operating EBITDA is € 5.5 million (H1 2024: € 8.0 million)
• Full-year forecast confirmed

Following positive developments in 2024, the German replacement tyre business recorded only slight growth in the first half of 2025. According to initial estimates, around 1 % more passenger car tyres were sold to consumers in the first six months. While sales of summer and winter tyres decreased by around 4 % each, demand for all-season tyres increased by around 8 %. According to the German E-Commerce and Distance Selling Trade Association (bevh), the upward trend in German online retail continued in the middle of the year. The decisive factor was accelerated revenues growth of 3.8 % in the second quarter of 2025. In the first quarter, revenues had already increased by 3.2 % to € 19.7 billion compared to the same quarter of the previous year. Overall, e-commerce revenues in Germany grew by 3.5 % to € 39.8 billion in the first half of 2025.

In the first six months of the current fiscal year, the Delticom Group generated revenues of € 237 million, an increase of 11.6 % after € 212 million in H1 2024. The previous shop business had already been supplemented by platform business in the 2023 fiscal year. The gross merchandise volume amounts to € 285 million in H1 2025 (H1 2024: € 259 million, +10.4 %).

The gross margin (trade margin excluding other operating income) was 24.3 %, compared with 26.4 % in the same period of the previous year. The decrease is mainly due to changes in the sales mix. In addition, the company passed on some of the cost savings achieved in the summer business to its customers, thereby focusing on growth in the first half of the year. In the second half of the year, sales management will be increasingly aligned with the profitability target for the full year. The winter business will play a key role in terms of profitability for the year as a whole.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) totalled € 5.3 million in the reporting period, down from the previous year (H1 2024: € 7.8 million, -32.3 %). This corresponds to an EBITDA margin of 2.2 % (H1 2024: 3.7 %). In H1 2025, profitability was particularly impacted by a negative currency result of € -1.5 million. In H1 2024, the balance of currency gains and losses had no effect on earnings at € 0 million. Operating EBITDA after deducting costs related to refinancing amounted to € 5.5 million in the reporting period, compared to € 8.0 million in the same period last year.

Against the backdrop of an unscheduled depreciation within current assets, earnings before interest and taxes (EBIT) amounted to € -0.6 million, compared with € 2.8 million in H1 2024 (-121.5 %). EBIT for the first six months before FX result and one-off write-down is € 2.1 million.

The consolidated net income for the first six months was € -1.7 million, after € 61 thousand the previous year.

Despite the revenues growth achieved in the first half of 2025, management continues to forecast revenues in the current fiscal year in the range of € 470 million to € 490 million, thus maintaining its March 2025 forecast unchanged. Sales velocity in the online shops was already slowed down as planned at the end of the summer season. Although moderate economic growth is currently expected for the eurozone as a whole in 2025, European consumers remain cautious – especially when it comes to larger purchases – due to uncertainties regarding inflation, the economy, and international trade tensions. The winter tyre business in the second half of 2025 will be of central importance for the course of business for the year as a whole.

Management continues to target an operating EBITDA range of € 19 million to € 21 million for the full year. Given the positive effect achieved in July, it cannot be ruled out at this point that the currency losses realized in the first half of the year will be offset. The development of the US dollar in the second half of the year will play a key role here. In addition, sales in the second half of the year will be managed in line with the profitability target for the full year. At this point in time, shortages of tyres produced in China cannot be ruled out for the upcoming winter season. Background is the investigation launched by the European Commission in May of this year into whether anti-dumping measures are necessary for imports of tyres for passenger cars and light commercial vehicles from China. The introduction of anti-dumping duties at short notice – possibly with retroactive effect – could have a corresponding impact on availability in the winter tyre business. In addition, the company will continue to focus on costs with the aim of further reducing them in the second half of the year.

The report for the first six months 2025 stands ready for download on the website www.delti.com within the “Investor Relations” section.

Delticom Group – Key Figures
 

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About Delticom

With its 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 around 600 brands and nearly 80,000 tyre models for cars and motorcycles. Complete wheels and rims complete the product range. The company operates 335 online shops and online distribution platforms in 70 countries, serving more than 20 million customers. In the online shop Reifendirekt.de, sustainable and resource-saving tyres are labelled accordingly and awarded a sustainability seal.

As part of the service, the ordered products can be sent to one of Delticom's approximately 25,000 partner garages in Europe for mounting at the customer's request.

Based in Hanover, Germany, the company operates primarily in Europe 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 among its most important assets.

In fiscal year 2024, Delticom AG generated revenues of around 482 million euros. At the end of last year, the company employed 122 people.

The shares of Delticom AG have been listed in the Prime Standard of the German Stock Exchange since October 2006 (ISIN DE0005146807).

On the internet at: www.delti.com


Contact:

Delticom AG
Investor Relations
Melanie Becker
Hedwig-Kohn-Straße 1
31319 Sehnde
Phone: +49 (0)511-93634-8903
Fax: +49 (0)511-8798-9138
Email: melanie.becker@delti.com