Delticom Ag · XETR:DEX
Delticom — FY2022 Earnings Presentation
19 slides from Delticom's earnings presentation, 2023
Slide 1: Europe's leading online tyre retailer – FY 2022 Results
Europe‘s leading online tyre retailer FY 2022 Results 1
Slide 2: Agenda
At a glance 1 Market environment FY 2022 2 AGENDA Key financials FY 2022 3 Content of Webcast Outlook 2023 4 2
Slide 3: Proven business enhanced with a top line perspective and operating excellence
Proven business enhanced with a top line perspective and operating excellence 2022 Refocusing on the core business - 2020 Change of the commercial strategy and refocus on the core business of tyre retail Strengthening of capital structure through a capital increase (issue of new shares), accumulatio
Slide 4: Extensive experience and reputation in the tyre online market
Extensive experience and reputation in the tyre online market Leading reputation > 20 years of web … search engine …across platforms and proved by customer presence and optimization (SEO) countries reviews … Delticom’s core online brands generating >50% of group revenues Average review score Trustpi
Slide 5: Current Shareholder Structure
Current Shareholder Structure Founders; 47.67% Free Float; 52.33% 5
Slide 6: Financing secured
Financing secured In the course of the successfully completed restructuring, the company's follow-up financing had been secured by signing a syndicated loan agreement with a term of 2 years at the end of the financial year 2021 Delticom Group`s financing successfully extended in March 2023 until Dec
Slide 7: Market Environment (1/2)
FY 2022: MARKET ENVIRONMENT (1/2) Consumer sentiment remains very tense due to inflation at a continuing high level According to ETRMA, European tyre industry saw volume decrease of 2.0% in FY 2022 in the consumer tyre segment (summer: -6%, all-season: +6%, winter: -6%); double digit volume decline
Slide 8: Market Environment (2/2)
FY 2022: MARKET ENVIRONMENT (2/2) Downward trend interrupted briefly in 2021 All season tyres nearly flat yoy (+0.1%) Winter tyres -12.2% yoy Summer tyres -5.7% yoy Volume 2022 vs pre-corona 2019: -15.5% or -7.5 million units Decrease in the consumer segment (passenger car, 4x4 and light truck tyres
Slide 9: Revenues Development
FY 2022: REVENUES DEVELOPMENT Revenues (in €m) +0.4% +2.4% -1.2% core business core business core business 509 336 289 249 220 -13,0% / -11.9% / -13.8% / -76.1 €m -29.6 €m -46.5 €m FY 2022 FY 2021 H1 2022 H1 2021 H2 2022 H2 2021 Revenues contribution of US business Sale of the US business at the beg
Slide 10: Gross Margin & Gross Profit Margin
FY 2022: GROSS MARGIN & GROSS PROFIT MARGIN Gross margin simple Gross profit simple (Revenues less COGS; (Revenues less COGS; in % of Revenues) in €m) 128.0 21.6 21.9 -0.3 pps. 110.2 -17.8% 0 100 FY 2022 FY 2021 FY 2022 FY 2021 156.6 Gross profit margin Gross profit (Total income less COGS; (Total i
Slide 11: EBITDA
FY 2022: EBITDA Reported EBITDA (in €m) FY 2022 FY 2021 H2 2022 H2 2021 H1 2022 H1 2021 17.1 15.0 9.1 8.9 8.0 6.1 -12.2% -32.4% +10.4% EBITDA margin: EBITDA margin EBITDA margin 2.9% (2021: 2.9%) 2.1% (H2 2021: 2.7%) 4.0% (H1 2021: 3.2%) Operative EBITDA amounted to € 15.0 million Expenses relating
Slide 12: EBIT
FY 2022: EBIT EBIT (in €m) FY 2022 FY 2021 H2 2022 H2 2021 H1 2022 H1 2021 7.1 4.3 4.3 4.2 2.7 -2.9 €m -4.4 €m +1.6 €m -0.1 EBIT margin: EBIT margin EBIT margin 0.8% (FY 2021: 1.2%) -0,03% (H2 2021: 1.3%) 2.0% (H1 2021: 1.1%) EBIT for FY 2022 lower than in the prior year Amortization of rights-of-us
Slide 13: P&L
FY 2022: P&L Unit FY 2022 FY 2021 Weakness in consumer demand in the business with private end customers was Revenue €m 509.3 585.4 -13.0% cushioned by stronger dealer business Gross profit €m 143.7 156.6 -8.2% Price increases successfully passed Personnel expenses €m 14.0 13.4 +4.8% Severance payme
Slide 14: Balance Sheet: Assets (Excerpt)
FY 2022: BALANCE SHEET: ASSETS (EXCERPT) Unit 31.12.2022 31.12.2021 Non-current assets €m 119.7 111.5 Rental of a new warehouse and capitalisation of corresponding rights of use Fixed assets €m 95.1 88.2 Other assets €m 24.6 23.2 Strict working capital management in Current assets €m 75.5 92.7 finan
Slide 15: Balance Sheet: Equity & Liabilities (Excerpt)
FY 2022: BALANCE SHEET: EQUITY & LIABILITIES (EXCERPT) Unit 31.12.2022 31.12.2021 Consolidated net income of 2.8 €m Equity €m 39.7 38.0 strengthened equity Liabilities €m 195.2 217.5 No long-term financial liabilities with banks but only lease obligations from rental agreements Long term liabilities
Slide 16: Financial Debt
FY 2022: FINANCIAL DEBT in €m 31.12.2022 31.12.2021 in €m 31.12.2022 31.12.2021 Non-current liabilities 58.5 57.0 47.4 Current liabilities 98.4 122.7 Non-current financial liabilities 51.0 42.3 Accounts payable 53.8 84.6 thereof lease liability IFRS 16 51.0 42.3 Current financial liabilities 22.6 13
Slide 17: Free Cashflow
FY 2022: FREE CASHFLOW Free Cashflow FY 2021 (€m)* Cashflow from operating Cashflow from investing activities activities Free Cashflow Cashflow from operating Cashflow from investing 3.1 activities activities Free Cashflow -5.5 -2.4 16.9 16.5 Free Cashflow FY 2022 (€m) -0.4 *Previous year figures ha
Slide 18: Outlook FY 2023: Revenues and EBITDA Guidance
OUTLOOK FY 2023: REVENUES AND EBITDA GUIDANCE € 500 – 534 m € 14 – 18.9 m Revenues 2023e EBITDA (operative) 2023e ➔ Catch-up effects in the replacement tyre business strongly depend on further overall economic development ➔ Declared target of at least 1 million new customers in 2023 to support reven
Slide 19: Q&A
Q&A A firm grip on the road to success 19