Delticom Ag · XETR:DEX
Delticom — 9M 2020 Earnings Presentation
11 slides from Delticom's earnings presentation, Nov 12, 2020
Slide 1: Delticom AG Results 9M 2020
Delticom AG Europe's leading online tyre retailer Results 9M 2020
Slide 2: Agenda
Agenda Content of webcast • Market environment • Key financials 9M 2020 • Update on current lockdown decisions • Revised Outlook 2020 2 Delticom AG – Company Presentation
Slide 3: 9M 2020: Market environment
9M 2020: Market environment COVID19: Shutdown decisions in various European countries weighed on demand Demand for replacement tyres influenced by weather-related shifting effects (start of the winter season slightly delayed) German passenger car replacement tyre market decreased by 15.1% in 9
Slide 4: 9M 2020: Revenues development
9M 2020: Revenues development Revenues (in €m) -15.5% / -65 €m 420 -11% core 355 business -13.6% / -19 €m 136 117 Q3 2020 Q3 2019 9M 2020 9M 2019 * excluding effect from closed operations Corona pandemic affects tyre business in 9M/2020 (e.g. massive shutdown in southern European countries in H1/2
Slide 5: 9M 2020: Gross margin
9M 2020: Gross margin Gross margin (Revenues less COGS; in % of revenues) + 1.9 pps. + 1.9 pps. + 1.8 pps. 24.1 23.9 22.2 23.7 22.0 21.9 Q3 2020 Q3 2019 9M 2020 9M 2019 H1 2020 H1 2019 Gross margin increase despite difficult market environment 5 Delticom AG – Company Presentation
Slide 6: 9M 2020: Reported & Operating EBITDA
9M 2020: Reported & Operating EBITDA Reported EBITDA (in €m) +7.2 €m +9.5 €m +2.2 €m Q3 2020 Q3 2019 9M 2020 9M 2019 H1 2020 H1 2019 3.2 1.7 -1.5 -3.7 -4.0 -7.8 Operating EBITDA (before restructuring costs; in €m) +8.2 €m +14.4 €m +6.1 €m Q3 2020 Q3 2019 9M 2020 9M 2019 H1 2020 H1 2019 4.2 6.6 2.4 -
Slide 7: 9M 2020: EBIT
9M 2020: EBIT EBIT (in €m) +7.9 €m +12.3 €m +4.3 €m Q3 2020 Q3 2019 9M 2020 9M 2019 H1 2020 H1 2019 0.7 -5.4 -6.2 -7.2 -17.8 -10.5 Positive EBIT in Q3 2020, sustained improvement ongoing (Q2 2020: +1,5 €m) Declining depreciation in 9M 2020 (7.2 €m) compared to 9M 2019 (10.0 €m) 7 Delticom AG – C
Slide 8: 9M 2020: P&L Focused cost management
9M 2020: P&L Unit 9M 2020 9M 2019 Revenues €m 355.3 420.3 -15.5% Gross profit €m 100.9 113.2 -10.9% Personnel €m 11.0 14.3 -23.2% Positive impact from divestment of expenses loss-making subsidiaries Advertising €m 12.6 21.5 -41.4% Efficiency measures for cost reduction in costs the core business imp
Slide 9: COVID19: Update on current lockdown decisions
COVID19: Update on current lockdown decisions No significant restrictions for car workshops or tyre dealers in Germany and other European countries identifiable at the moment (status: November 6, 2020): Austria: all trade and service companies are permitted to be open; entry prohibitions only exis
Slide 10: Revised Outlook FY2020
Revised Outlook FY2020: Revenues and EBITDA Guidance € 550 – 570 m expected restructuring invest 2020 of about 7 m€ - mainly legal and consultancy costs € 12 – 15 m €5–8m Previous Previous Previous Outlook: Outlook: Outlook: € 600 - 630 m €1-5m € 10 - 13 m Revenues EBITDA (reported) Operating EBITDA
Slide 11: Q&A
Q&A Ziel: Umstrukturierungsstrategie überzeugt Banken und Geschäftspartner A firm grip on the road to success 11