Slide 1: Europe's leading online tyre retailer – FY 2023 Results
Europe‘s leading online tyre retailer FY 2023 Results 1
Slide 2: Agenda
Annual Audit 2023 1 Market environment FY 2023 2 AGENDA Operational Highlights 3 Content of Webcast Key financials FY 2023 4 Outlook FY 2024 5 2
Slide 3: Annual Audit 2023
ANNUAL AUDIT 2023 Delticom changed the auditor for the 2023 financial statements The previous auditor could not have been reappointed in 2024 due to legal requirements A change after many years is associated with a correspondingly high organisational effort The time frame estimated was not sufficien
Slide 4: FY 2023: Market Environment
FY 2023: MARKET ENVIRONMENT Subdued economic activity in Europe; rising cost of living due to inflation did not remain without consequences for private consumption According to ETRMA, European tyre industry saw volume decrease of 7.9 % in 2023 in the consumer tyre segment (summer: -13 %, all-season:
Slide 5: Operational Highlights
OPERATIONAL HIGHLIGHTS Continuous driving of more than 100 A/B tests simultaneously with a focus on customer delight and Return on Advertising Spend (ROAS) Cost savings through reduction of personnel at Delticom, Operations Center, consultants and other external service providers Executive Leadershi
Slide 6: FY 2023: Revenues Development
FY 2023: REVENUES DEVELOPMENT Revenues (in €m) +0.8 % +17.9 % +4.3 % -3.8 % GMV GMV GMV GMV 476 509 278 289 198 220 180 171 -6.6% / +5.5% / -4.0% / -10.0% / -33.8 €m +9.4 €m -11.6 €m -22.0 €m Gross merchandise 2023 2022 Q4 2023 Q4 2022 H2 2023 H2 2022 H1 2023 H1 2022 volume (GMV) Previous shop busin
Slide 7: FY 2023: Gross Margin & Gross Profit Margin
FY 2023: GROSS MARGIN & GROSS PROFIT MARGIN Gross margin simple Gross profit simple (Revenues less COGS; (Revenues less COGS; in % of Revenues) in €m) 116 110 24.4 21.6 +2.8 pps. +5.4% 2023 2022 2023 2022 143 144 Gross profit margin Gross profit (Total income less COGS; (Total income less COGS; in %
Slide 8: FY 2023: EBITDA
FY 2023: EBITDA Reported EBITDA (in €m) 2023 2022 Q4 2023 Q4 2022 H2 2023 H2 2022 H1 2023 H1 2022 20.6 15.0 13.8 11.2 7.3 8.9 6.1 6.8 +5.6 €m +3.9 €m +7.7 €m -2.1 €m EBITDA margin: EBITDA margin: EBITDA margin EBITDA margin 4.3% (2022: 2.9%) 6.2% (2022: 4.3%) 5.0% (H2 2022: 2.1%) 3.4% (H1 2022: 4.0%
Slide 9: FY 2023: EBIT
FY 2023: EBIT EBIT (in €m) 2023 2022 Q4 2023 Q4 2022 H2 2023 H2 2022 H1 2023 H1 2022 11.5 8.1 8.3 4.2 3.3 4.3 +4.8 €m +8.4 €m 3.2 -1.1 €m +7.3 €m -0.1 EBIT margin: EBIT margin EBIT margin EBIT margin 2.4% (2022: 0.8%) 4.5% (Q4 2022: 1.9%) 3.0% (H2 2022: -0.0%) 1.6% (H1 2022: 2.0%) EBIT for 2023 € 7.
Slide 10: FY 2023: P&L
FY 2023: P&L Unit 2023 2022 Year-on-year decrease in revenues due to the Revenues €m 475.7 509.3 -6.6% partial revenues shift from shops to platforms Gross profit €m 143.3 143.7 -0.3% Improved gross margin due to change in the sales mix and internal enhancements Personnel expenses €m 14.0 14.0 -0.3%
Slide 11: FY 2023: Balance Sheet: Assets (Excerpt)
FY 2023: BALANCE SHEET: ASSETS (EXCERPT) Unit 31.12.2023 31.12.2022 30.06.2022 Amortisation right-of-use assets > additions Non-current assets €m 108.9 119.7 102.9 led to reduction in rights of use to € 46.1 million Fixed assets €m 94.1 95.1 87.6 Part of the long-term receivables of short- term natu
Slide 12: FY 2023: Balance Sheet: Equity & Liabilities (Excerpt)
FY 2023: BALANCE SHEET: EQUITY & LIABILITIES (EXCERPT) Unit 31.12.2023 31.12.2022 30.06.2022 Consolidated net income of € 8.0 million Equity €m 47.6 39.7 39.6 strengthened equity Liabilities €m 143.9 155.6 191.6 Long-term lease obligations (IFRS 16) Long term liabilities €m 46.1 57.1 47.6 Short-term
Slide 13: FY 2023: Free Cashflow
FY 2023: FREE CASHFLOW Free Cashflow 2023 (€m) Free Cashflow 2022 (€m) Cashflow from operating Cashflow from investing Cashflow from operating Cashflow from investing activities activities Free Cashflow activities activities Free Cashflow 33.1 27.5 3.1 -5.6 -2.4 -5.5 Improved operating cashflow main
Slide 14: Outlook FY 2024: Revenues and EBITDA Guidance
OUTLOOK FY 2024: REVENUES AND EBITDA GUIDANCE € 450 – 470 million Positive Free Cashflows are also expected in the medium term € 19 – 21 million Revenues 2024e EBITDA (operative) 2024e ➔ Opportunities for a market recovery are not reflected in the revenues forecast ➔ The strong winter tyre business
Slide 15: Q&A
Q&A A firm grip on the road to success 15