Delticom Ag · XETR:DEX
Delticom — H1 2014 Earnings Presentation
20 slides from Delticom's earnings presentation, Aug 14, 2014
Slide 1: New growth on a strong base: Investor and Analyst Presentation
New growth on a strong base. DELTICO M/Z) Aktiengesellschaft Investor and Analyst Presentation On the Occasion of the Release of the Semi-Annual Report 2014 Hanover, 14 August 2014
Slide 2: Agenda
Agenda Delticom Group at a Glance Profit & Loss Balance Sheet Outlook SemiAnnual Report i, “4 Nonuver Lt August 2084 Delticom Group Profit & Loss Balance Sheet Outlook DE LTl comy 2 at a Glance
Slide 3: Agenda
Agenda Delticom Group at a Glance Profit & Loss Balance Sheet Outlook SemiAnnual Report i S Honor Lt August 2084 Deticom Group Profit & Loss Balance Sheet Outlook D ELT! comy 3
Slide 4: Key Financials
Key Financials Q214 Q213 yoy% H114 H1i13 yoy% Revenues €m) 131,8 130,9 +0,6 226,14 212,2 +6,5 (| early summer season start in March New Customers” = 243 336 -27,5 454 435 +4,3 (| strong base Q2 13 Revenues EC €m, 129,6 128,9 +0,5 221,4 206.4 +7,3 (| Tirendo effect Gross Margin % 25,1 24,0 +1,0p 24,8
Slide 5: Tirendo
THRENDO = Acquisition on Sept 16th, 2013 » Launched in March 2012. « Fast growing brand awareness in Germany = Tirendo.de ranks among the top 5 online tyre retailers = Broader international footprint: online shops in 11 countries across Europe (6 countries in H1’13) » New Management with industry ba
Slide 6: Key Financials Tirendo
Key Financials Tirendo Q214 9213 yoy% H114 H1i13 yoy% Revenues €m 9,2 13,9 -33,8 17,5 17,5 +0,2 Gross Margin” % 22,7 15,0 +7,7p 208 14,8 +5,9p Personnel 2) €m 1,7 1,0 +67,5 3,0 2,0 +52,6 Expenses Advertising em) 33 3,7 -411,0 53 5,3 41,2 costs EBIT €m -3,9 -4,1 +3,4 -7,2 -6,5 -10,6 1) Simulation: as
Slide 7: Delticom without Tirendo
Delticom without Tirendo EUR yoy % of Revenues Q214 Q213 % Q214 —Q213 Revenues 122,6 130,9 -6,4 100,0 100,0 strong Q213 (+21 %) Cost of goods sold -91,7 -99,4 -7,8 74,8 76,0 Gross profit 30,9 31,5 -1,8 25,2 24,0 Gross Margin up Other operating income 3,4 1,2 194,2 2,8 0,9 Personal expenses -2,4 -2,3
Slide 8: Agenda
Agenda Delticom Group at a Glance Profit & Loss Balance Sheet Outlook SemiAnnual Report i, i Go Honor Lt August 2084 Deticom Group Profit & Loss Balance Sheet Outlook D ELT! comy 8
Slide 9: Customers
Customers in thousands 2012 2014 10% New Customers?) New Customers Tirendo?) — 3 Repeat Customers?) | | | a Q2 3 ad a Q2 3 ad a P Q2: Strong new customer gains @ Delticom & Tirendo in Q213 1) New Customers incl. Tirendo from 01.01.2014 2) New Customers Tirendo 2013 3) Repeat Customers incl. Tirendo
Slide 10: Quarterly Revenues
Quarterly Revenues (inci. tirendo from 16.09.2013) in € million 2012 2013 2014 +12% 200 - - - = 200 -3% 175 - - - - 175 0% 7 421% 7 +1% a 125 - 5% - - - 125 +11% +16% 100 = +0% -12% 50 - - 100 75 = - - - 75 50 - - - - 50 - oO Oo - _ erp Ee XM ) 25 ito} So Y sf 00 od ioe) bal o o- - - -0 Q1 Q2 Q3 Q4
Slide 11: Quarterly Gross/EBIT Margins
Quarterly Gross/EBIT Margins Gross Margin EBIT Margin 2012 2013 2014 30% - 30% of -0, -0,1 0,6 -3,9 -0,9 ’ -0,4 1,0 25% - 7 29 16 7 25% 20% = - - 20% 15% - - - 15% 10% - - - 10% 5% = - - 5% x SS x SS x 2 <a QQ @ gi 2 gi vt for) vt ioe) ise) vt vt 0% ~ - - 0% Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 P H1:
Slide 12: Quarterly EBITDA
Quarterly EBITDA in € million 2012 2013 2014 25- - 25 20 - - 20 -38% 15 - -15 -21% -35% 10 = - 10 -33% -51% 5 - 735% 29% as -46% -5 my 0 -65% 7323 2 fF a & @ st od st o O- -0 Qt Q2 Q3 Q4 Qt Q2 Q3 Q4 Qt Q2 Q3 Q4 P Q2: Delticom without Tirendo EUR 8.2 million (+16.7%) eee eee cota Delticom Group Profi
Slide 13: P&L Drivers (Q2)
P&L Drivers (Q2) EUR yoy % of Revenues Q214 Q213 % Q214 Q213 chng Revenues 131,8 130,9 0,6 100,0 100,0 0,0 Cost of sales 98,8 99,4 -0,7 74,9 76,0 -1,0 Gross Profit (ex ooi) 33,0 31,5 4,9 25,1 24,0 1,0 Direct costs 23,6 19,2 22,8 17,9 14,7 SA Direct costs (dep. on volume) 15,2 13,7 10,5 11,5 10,5 1,0
Slide 14: P&L Drivers (H1)
P&L Drivers (H1) EUR yoy % of Revenues H114 H113 % H114 H113 chng Revenues 226,1 212,2 6,5 100,0 100,0 0,0 E-Commerce: +7.3 % yoy Cost of sales 170,0 160,5 59 75,2 75,6 -0,5 Gross Profit (ex ooi) 56,1 51,7 8,5 24,8 24,4 0,5 Direct costs 39,5 31,9 23,8 17,5 15,0 2,4 Direct costs (dep. on volume) 24,8
Slide 15: Agenda
Agenda Delticom Group at a Glance Profit & Loss Balance Sheet Outlook SemiAnnual Report i 7 Hanover Let August 2044 Delticom Group. Profit & Loss Balance Sheet Outlook LT I co Miz) 15 at a Glance Akeleng
Slide 16: Working Capital Management
Working Capital Management 2012 201: 2014 4.6 2 4 15,4) Accounts receivable S ii ... follow the seasonal peaks. -1,9 6,5 4,0 -2,6 (s2 0.4 Mins me: fis.7 mms (Hs -116 plan 45,4 Inventories a I ... stock built up according to a =: YE -52,3 | ee Accounts payable . payment terms -42 -35,6 oe ee o Workin
Slide 17: Liquidity Bridge
Liquidity Bridge in € million 40 58 2,8 -10,3 AC 7,4 -0,4 30 4 0,4 -3,8 7 11,0 , 20 | 20 9,8 10 10 04 -10 4 0 204 -30 4 -30 -40 4 40 . o P 2 . Bo & Ss _£| 8 3 8 8 $ £5 B82 22 3S s8 58 § 25 36 ir s 58 5 2 ral g & S22 Bs Ss $B 2 ce BS Ze 5 S £2 2 © © 2 F a en SDE CF BS DS 5 ae 8 Ss 5 > Ea = >. & B2 =5
Slide 18: Agenda
Agenda Delticom Group at a Glance Profit & Loss Balance Sheet Outlook SemiAnnual Report i 7 Hanover Let August 2044 Delticom Group. Profit & Loss Balance Sheet Outlook LT 1co Miz) 18 at a Glance Akeleng
Slide 19: Outlook
Outlook « Replacement tyre market Q2 = Germany, sel-out Q2 (wdk): summer —6.9%, winter -18.3% = Sentiment H2 2014 = downside risks for consumer confidence = tyre trade: hopes for positive winter tyre bussines = overall picture still not clear: - e.g. Forecast sell-out Germany (BRV, as of March 2014)
Slide 20: Investor Relations
Investor Relations: Melanie Gereke Delticom AG Brihlstr. 11 30169 Hanover, Germany eMail: gereke@delti.com phone: +49511-93634-8903 SemiAnnual Report Hanover, 14 August 2014 DELTICOM) 20