Slide 1: Results FY 2020
Results FY 2020 DELTICOM Europe's leading online tyre retailer
Slide 2: Agenda: Content of Webcast
AGENDA CONTENT OF WEBCAST 01 02 03 04 Market environment Key financials Update on Outlook 2021 FY 2020 Turnaround Process Delticom AG – Company Presentation
Slide 3: FY 2020: Market Environment
FY 2020: MARKET ENVIRONMENT ▪ Covid-19: Comprehensive measures and restrictions to contain the infection resulted in a drastic slump in global activity ▪ €-zone: Deep recession in H1 2020, recovery in Q3 not sustainable as infections rate started to rise again in late summer (GDP -7.2 % according to
Slide 4: FY 2020: Revenue Development
FY 2020: REVENUE DEVELOPMENT Revenue (in €m) 626 626 596 €m 541 341 w/o disc. 303 ops. 285 238 -13.5% / -16% / -11% / -85 €m -47 €m -38 €m FY 2020 FY 2019 H1 2020 H1 2019 H2 2020 H2 2019 * excluding effect from closed operations ▪ profitable revenues ▪ € -30 million reduction in revenues due to dive
Slide 5: FY 2020: Gross Margin & Gross Profit Margin
FY 2020: GROSS MARGIN & GROSS PROFIT MARGIN Gross margin simple Gross profit simple (Revenues less COGS; (Revenues less COGS; in % of Revenues) in €m) 22.7 135 21.6 123 + 1.1 pps. - 9.0 % FY 2020 FY 2019 FY 2020 FY 2019 Gross profit margin Gross profit (Total income less COGS; (Total income less COG
Slide 6: FY 2020: EBITDA
FY 2020: EBITDA Reported EBITDA (in €m) FY 2020 FY 2019 H1 2020 H1 2019 H2 2020 H2 2019 16.5 15.0 +21.6 €m +2.2 €m +19.4 €m -3.7 -2.9 -1.5 -6.6 EBITDA margin: EBITDA margin EBITDA margin 2.8% (2019: -1.1%) -0.6% (2019: -1.3%) 5.4% (2019: -0.8%) ▪ Improvement of operational earnings due to divestment
Slide 7: FY 2020: EBIT
FY 2020: EBIT EBIT (in €m) FY 2020 FY 2019 H1 2020 H1 2019 H2 2020 H2 2019 11.6 5.4 +47.5 €m +4.3 €m +43.1 €m -6.2 -10.5 -31.6 -42.1 EBIT margin: EBIT margin: EBIT margin: 1.0% (2019: -6.7%) -2.6% (2019: -3.7%) 3.8% (2019: -9.3%) ▪ Positive EBIT in 2020 ▪ Declining depreciation in 2020 (9.7 €m) comp
Slide 8: FY 2020: P&L
FY 2020: P&L Unit FY 2020 FY 2019 Closure of loss-making business units Sales €m 541.3 625.8 -13.5% (-30 €m) Gross profit €m 155.9 172.7 -9.7% Operational margin improvement Personnel expenses €m 14.3 19.9 -28.4% Positive impact from divestment Advertising costs €m 18.9 28.6 -34.0% Marketing control
Slide 9: FY 2020: Balance Sheet Assets (Excerpt)
FY 2020: BALANCE SHEET ASSETS (EXCERPT) Unit 31.12.2020 31.12.2019 Non-current assets €m 124.0 88.8 Fixed assets €m 99.4 76.4 Increase driven by right of use assets Other assets €m 24.6 12.4 Current assets €m 75.8 99.4 Inventories €m 36.9 63.0 Further reduction of –26.1 €m managed Accounts receivabl
Slide 10: FY 2020: Balance Sheet Equity & Liabilities (Excerpt)
FY 2020: BALANCE SHEET EQUITY & LIABILITIES (EXCERPT) Unit 31.12.2020 31.12.2019 +6.5 €m in equity, equity ratio 7.4% after Equity €m 14.8 8.3 4.4% Unit 31.12.2020 31.12.2019 Liabilities €m 185.0 179.9 Capitalization of rights of use in Long term liabilities €m 50.0 29.7 connection with new warehous
Slide 11: FY 2020: Free Cashflow
FY 2020: FREE CASHFLOW Free Cashflow FY 2019 (€m) Cashflow from Cashflow from Cashflow from Cashflow from operating activities investing activities Free Cashflow operating activities investing activities Free Cashflow 35.9 34.3 -4.1 -1.6 -22.5 -26.6 Free Cashflow FY 2020 (€m) ▪ Improved cash flow fr
Slide 12: Refocusing on Core Business: Update on Turnaround Process
REFOCUSING ON CORE BUSINESS: UPDATE ON TURNAROUND PROCESS Refocusing on core business in Europe: Continuation of US-business, profitable growth opportunities Non-core businesses stopped Financing: financing secured until end of 2021 Follow-up financing under way in close exchange with banks Fina
Slide 13: Outlook FY2021: Sales and EBITDA Guidance
OUTLOOK FY2021: SALES AND EBITDA GUIDANCE € 550 – 590 m € 16 – 20 m* *Including restructuring costs of about € 4 m in 2021 Sales 2021e EBITDA (reported) 2021e ➔ Further increase in e-commerce penetration expected in replacement tyre business ➔ lower end of revenues guidance needs a moderate growth i
Slide 14: Q&A
Q&A A firm grip on the road to success 14