Delticom AG
DEX
ISIN DE0005146807 / Valor 2754216
Delticom AG
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About company
Delticom AG is a leading e-commerce company specializing in the online retailing of tires and automotive products. With over 20 years of experience, the company operates more than 300 online shops and distribution platforms in over 70 countries worldwide, primarily in Europe. Delticom has built up expertise in setting up and operating online shops, acquiring customers online, online marketing, and developing partner networks and logistics processes. The company offers a wide range of products, including over 600 tire brands and around 18,000 tire models, catering to both private and business customers. Delticom's commitment to steady growth in online retailing and digitalization has made it Europe's largest online tire retailer, serving more than 17 million satisfied customers globally.
Summarized from source with an LLMView SourceSector: Non-Energy MaterialsLatest Results (03.05.2026):
Delticom AG — results for H1 2025 (covering Q1 and Q2 2025): the Group reported revenue growth with H1 revenues of €236.5m and gross merchandise volume €285.4m, but profitability was squeezed by higher COGS, FX effects and unscheduled write‑downs: EBITDA was €5.3m (2.2% margin), EBIT was -€0.6m and consolidated net income -€1.7m (EPS -€0.12). The company reiterates full‑year guidance of €470–490m revenues and operating EBITDA €19–21m.
Top‑line & volume
Revenues: €236.5m in H1 2025 (+11.6% y/y). Gross merchandise volume: €285.4m (+10.4% y/y). Q1: €105m (Q1 2024: €97m); Q2: €131m (Q2 2024: €115m). EU sales were €201.5m (85.2% of revenues).
Profitability
Gross profit including other operating income: €69.9m (+5.2% y/y). Gross margin (ex other op. income): 24.3% (H1 2024: 26.4%). EBITDA: €5.3m (2.2% margin) vs €7.8m a year earlier; operative EBITDA €5.5m. EBIT: -€0.6m. Net income: -€1.7m (EPS -€0.12).
Key cost drivers
COGS rose to €179.1m (+14.9%) with a cost of materials ratio of 75.7%. Other material items: transportation €22.8m, warehousing/inventory costs €7.5m, marketing €6.7m. Depreciation/amortisation and inventory write‑downs increased total write‑downs to €5.9m.
Foreign‑exchange impact
Other operating income included FX gains of €4.1m, but FX losses of €5.5m were recorded in other operating expenses, producing a net FX effect of about -€1.5m that weighed on H1 profitability. Management flags USD development as decisive for H2.
Customers & operations
Active buyers up ~2.2% y/y. New customers in Europe: 356k in H1 2025 (+16.4% y/y); repeat/existing customers fell to 234k (-13.8% y/y). Average headcount fell to 116 (H1 2024: 167) and personnel expenses declined to €5.6m (-19.6%).
Balance sheet & liquidity
Total assets €243.5m. Inventories €79.8m (up €13.7m since Jan 1). Trade payables €83.5m. Cash and equivalents €3.5m; net cash position (liquidity less current account liabilities) ≈ -€25.8m. Equity €50.0m (equity ratio 20.5%).
Cash flow & investment
Operating cash flow: -€4.6m (improved vs -€21.5m in H1 2024). Capex: €1.3m. Financing cash flow €4.0m (seasonal credit line usage); management expects free cash flow in the low single‑digit million range for 2025.
Outlook & risks
Management maintains 2025 guidance: revenues €470–490m and operating EBITDA €19–21m. Key risks highlighted: FX volatility (USD), potential anti‑dumping tariffs on Chinese tyre imports, and geopolitical tensions that could affect supply and demand.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
45 M
Market cap (USD)
4,800
Daily traded volume (Shares)
2.3 / 2.06
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
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