Delticom Ag · XETR:DEX
Delticom — FY2013 Earnings Presentation
23 slides from Delticom's earnings presentation, Mar 20, 2014
Slide 1: New growth on a strong base
New growth on a strong base. DELTICO M/Z) Aktiengesellschaft Investor and Analyst Presentation On the Occasion of the Release of the Annual Report 2013 Hanover, 20 March 2014
Slide 2: Agenda
Agenda Vision Deltirendo Delticom Group at a Glance Profit & Loss Balance Sheet Outlook Annual Report Hanover, 20 March 2014 D E LT Icom 2 ktiengesellschatt
Slide 3: Agenda
Agenda Vision Deltirendo Delticom Group at a Glance Profit & Loss Balance Sheet Outlook Annual Report isi n i -, vnueh 30 March 2018 Vision Deltirendo Deticom Group Profit & Loss Balance Sheet Outlook DE LT ICOM 3
Slide 4: Vision Deltirendo
Vision ,Deltirendo“ 14+41=3 P World class excellence in eCommerce and fulfillment Annual Report y Mover 30 Maren 2014 Vision Deltirendo Delticom Group Profit & Loss Balance Sheet Outlook DELTI co M 4) 4
Slide 5: Vision Deltirendo
Vision ,Deltirendo“ Delticom Tirendo Purchasing & Logistics ROSS EEE Profitability Finance & Controlling Focus area Financing Marketing Focus area Innovation IT Focus area Technology > The combination ,Deltirendo“ brings complementary strengths for further growth Annual Report d Delt G Profit & Loss
Slide 6: Agenda
Agenda Vision Deltirendo Delticom Group at a Glance Profit & Loss Balance Sheet Outlook Annual Report isi i i Profi Outlook ~ vnueh 30 March 2018 Vision Deltirendo Detticam Group rofit & Loss Balance Sheet Jutloo! D Eu T I comy 6
Slide 7: Highlights 2013
Hightlights 2013 = Growth and profitability despite weak markets = Acquisition of key competitor Tirendo: " Technology advancement = New customer groups Overview = Group revenues exceed EUR 500 million More than 1 million new customers in FY’'13 = 500 thousand repeat customers in FY’13 Key Milestone
Slide 8: Key Financials
Key Financials Q413 0412 yoy% FY13 FY12 yoy% Revenues €m) 196.5 175.9 +411.7 505.5 456.4 +10.8 New Customers” =k 401 325 +23.5 1153 850 +35.7 Revenues EC €m) 193.3 172.7 412.0 493.1 441.4 +41.7 Gross Margin % 25.6 25.0 +0.6p 24.8 25.7 -1.0p EBITDA €m 10.2 15.8 -35.3 22.2 35.3 -37.2 EBIT €m 81 15.1 -
Slide 9: Tirendo
THRENDO = Acquisition on Sept 16th, 2013 » Launched in March 2012. FY’13 Revenues of EUR 43.7 million “aReNDO (FY’12: EUR 7.1 million) » Tirendo has online shops in 11 countries across Europe «= One-brand, one-shop strategy across countries and across product groups, including: = tyres, complete whe
Slide 10: Delticom without Tirendo
Delticom without Tirendo outperforming the market... ... ina tough market environment focus: online one-off personel expenses EUR yoy % of Revenues FY13_FY12 % FY13_FY12 Revenues 484.8 456.4 6.2 100.0 100.0 Other operating income 4.0 3.8 7.9 0.8 0.8 Total operating income 488.9 460.1 6.2 100.8 100.8
Slide 11: Agenda
Agenda Vision Deltirendo Delticom Group at a Glance Profit & Loss Balance Sheet Outlook Annual Report _ . . look : Hanover, 20 March 2014 Vision Deltirendo Delcam Group Profit & Loss Balance Sheet Outlool DE LT. I c Om 41
Slide 12: Customers
Customers (New Customers incl. Tirendo from 01.01.2013) in thousands 2011 2012 2013 423% : : +8% Repeat Customers / ...long replacement cycle l | il : | / and customers are happy Qi Q2 Q3 Q4 ; Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 New Customers .. Still the main growth driver P Q4: Strong new customer growth with
Slide 13: Quarterly Revenues
Quarterly Revenues (inci. tirendo from 16.09.2013) in € million 2014 2012 2013 +12% 200 - ~ ~ - 200 +12% _3% 175 - - - - 175 150 - ~ ~ 421% - 150 125 - +10% - - - 125 +25% +11% -5% 100 - 415% ~ 40% -12% ~ sy - 100 75 - ~ ~ - 75 50 - ~ ~ - 50 25> t o t -_ ~ ) : = 25 O- - - , -0 Q1 Q2 Q3 Q4 4 Q2 Q3 4
Slide 14: Quarterly Gross/EBIT Margins
Quarterly Gross/EBIT Margins Gross Margin EBIT Margin 2011 2012 30% - “18 — 30% -0.7 Ot Ot -3.9 -0.9 06 25% = - - “29-46 - 25% 20% = - - - 20% 15% - - - = 15% 10% — - - ~ 10% - - = 5% x % x & © d i oe) K 4 ro) al 0% ~ - - ~ 0% Qt Q2 Q3 Q4 Qt Q2 Q3 Q4 P 4: first quarterly gross margin improvement aft
Slide 15: Quarterly EBITDA
Quarterly EBITDA in € million 2014 2012 2013 +1% 25 - - 25 20 - - 20 -38% 15 - +14% ~ 15 453% -21% -35% 10 - - 10 +12% 733% -51% -35% 57 -22% -5 an Z a ~65% 38 8 8 B25 o od od N O- -0 Qt Q2 Q3 Q4 Qt Q2 Q3 Q4 Qt Q2 Q3 Q4 P QA: Delticom without Tirendo and before one-offs EUR 15.6 million Annual Repor
Slide 16: P&L Drivers (Q4)
P&L Drivers (Q4) EUR yoy % of Revenues Q413 Q412 % Q413 Q412 chng Revenues 196.5 175.9 11.7, 100.0 100.0 0.0 Cost of sales 146.3 132.0 10.8 74.4 75.0 -0.6 Gross Profit (ex ooi) 50.2 43.9 14.3 25.6 25.0 0.6 Direct costs 32.6 23.3 40.2 16.6 13.2 3.4 Direct costs (dep. on volume) 19.5 16.9 155) 9.9 9.6
Slide 17: P&L Drivers (FY)
P&L Drivers (FY) EUR yoy % of Revenues FY13FY12 % FY¥13__-FY12__chng Revenues 505.5 456.4 10.8 100.0 100.0 0.0 Tirendo consolidated from 16.09. Cost of sales 380.3 338.9 12.2 75.2 74.3 1.0 Gross Profit (ex ooi) 125.2 117.4 6.6 24.8 25.7 -1.0 Direct costs 80.2 63.4 27.0 15.9 13.8 2.0 Direct costs (de
Slide 18: Agenda
Agenda Vision Deltirendo Delticom Group at a Glance Profit & Loss Balance Sheet Outlook Annual Report isi i i Li Balance Sheet Outlook LT Omg Hanover, 20 March 2014 Vision Deltirendo Delcam Group Profit & Loss ala DEL! Ic 18
Slide 19: Working Capital Management
Working Capital Management 2011 2012 2013 3 = g - 2 5 Accounts receivable 5 = ... follow the seasonal peaks. HOS ~ g 8 ry gz 2 § ° ~ g 4 g 7 e a oF F l | | [| - | [| = Inventories | © ... seasonal stock reduction $ i 0 a & on 2 8 ag v Hi 42 Le ME os Hi 5 mm a Accounts payable | r] | ... partly funde
Slide 20: Liquidity Bridge
Liquidity Bridge in € million 804 4.3 0.0} 13 -4.0 70 | 17.8 — eo -8.4 60 4 50 | 46:2 40 4 30 4 204 10 4 o4 -10 4 -20 4 -30 4 nN & < Qo on on n +4 Qn ce o Q o no < ised 24 6 S .§ @ 2 8 8 ¢ E5§ of 2e 3 se § #4 eo" § 22) 2 8 & le & &f By ge 25 zag aS Sa g os & coy & = S5 £22 8 £2 £8 28 6 84 a a £ = o
Slide 21: Agenda
Agenda Delticom at a Glance Business Model Profit & Loss Balance Sheet Outlook Annual Report isi i i Profit & L Balance Sheet Outlook LTICOMY Hanover, 20 March 2014 Vision Deltirendo Delcam Group rofi OSS . ~ 21
Slide 22: Outlook
Outlook «= Replacement tyre market 2013 = Germany: sell-out (wdk): summer —10.4%, winter -3.5% = Europe: selkin (ETRMA): -—1.0% = Sentiment 2014 = consumer confidence slightly better = tyres: hope for recovery in 2014 > Revenues +10% > EBITDA at least at previous year's level Annual Report Hanover,
Slide 23: Investor Relations
Investor Relations: Melanie Gereke Delticom AG Brihlstr. 11 30169 Hanover, Germany eMail: gereke@delti.com phone: +49-511-936348903 Annual Report Hanover, 20 March 2014 Aktiengesellisch Miz) 23