Slide 1: Europe's leading online tyre retailer
Europe‘s leading online tyre retailer German Equity Forum 2022 1
Slide 2: Agenda
Company overview 1 Market environment 9M 2022 2 AGENDA Key financials 9M 2022 3 Outlook 2022 4 2
Slide 3: Company overview
DELTICOM2Z Company overview WRN POV SSeS WARNER
Slide 4: Organic growth combined with selected acquisitions
ORGANIC GROWTH COMBINED WITH SELECTED ACQUISITIONS 2006 1999 1999 - 2006 2008 2009 Foundation 2009 IPO: Delticom SDAX Listing: 10 years by Rainer Binder, went public on Delticom has been anniversary and Dr. Andreas Prüfer, October 26th listed at the SDAX more than 3m Philip von Grolman since Decembe
Slide 5: Proven business enhanced with a top line perspective and operating excellence
PROVEN BUSINESS ENHANCED WITH A TOP LINE PERSPECTIVE AND OPERATING EXCELLENCE 2008 Expansion into US market and growth period - 2012 Successful and profitable growth period and evolvement to the European leader for tyres, complete wheel sets and rims Established a multi-brand strategy with 300 onlin
Slide 6: Experienced and effective management
EXPERIENCED AND EFFECTIVE MANAGEMENT ANDREAS JOHANNES ALEXANDER PHILIP PRÜFER SCHMIDT-SCHULTES EICHLER VON GROLMAN Chief Executive Officer (CEO) Chief Financial Officer (CFO) Chief Operating Officer (COO) Chief Purchasing Officer (CPO) Responsibilities: Responsibilities: Responsibilities: Responsibi
Slide 7: Extensive experience and reputation in the online tyre market
EXTENSIVE EXPERIENCE AND REPUTATION IN THE ONLINE TYRE MARKET Leading reputation > 20 years of web … search engine …across platforms and proved by customer presence and optimization (SEO) countries reviews … Delticom’s core online brands in Europe Average review score Trustpilot (out of 5 points) Ø
Slide 8: Solid and balanced liquidity, debt and equity strategy
SOLID AND BALANCED LIQUIDITY, DEBT AND EQUITY STRATEGY Liquidity Management Capital structure Financial KPIs Ensuring sufficient liquidity reserves and balancing Longstanding and reliable relationships with financing partners Group revenue/revenue growth seasonality effects during the year Syndicate
Slide 9: Share price follows general trends and geopolitical impacts
SHARE PRICE FOLLOWS GENERAL TRENDS AND GEOPOLITICAL IMPACTS Historical share price (in €/share) Shareholder structure (2022) Delticom Share Price DAXsubsector All Retail Internet Andreas Prüfer (Prüfer GmbH) 30.1% Free Float 4 53.5% 14.7% Rainer Binder 3 (Binder GmbH) 2 1.8% 1 Other board members An
Slide 10: Successful capital increases in June 2021
SUCCESSFUL CAPITAL INCREASES IN JUNE 2021 Capital increase without subscription rights on June 2, 2021 and capital increase with subscription rights on June 24, 2021 Issue of 1,246,333 + 1,121,697 new no-par value registered shares at a placement price of € 7.12; increase of free float to 54.0% Gros
Slide 11: Market environment 9M 2022
Market environment 9M 2022 11
Slide 12: Market environment
9M 2022: MARKET ENVIRONMENT Consumer sentiment remains very tense due to high inflation rate of currently 10% European tyre industry saw volume decrease of 9% in Q3 2022 in the consumer tyre segment (summer: -19%, all-season: -5%, winter: -7%) According to bevh, revenues for the German online retail
Slide 13: Key financials 9M 2022
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Slide 14: Revenues development
9M 2022: REVENUES DEVELOPMENT Revenues (in €m) +10.6% +5.2% core business core business 338 376 119 127 -6.6% / -10 .1% / -8.4€m -37.9 €m Q3 2022 Q3 2021 9M 2022 9M 2021 Revenues contribution of US business Sale of the US business at the beginning of the current fiscal year, US revenues contribution
Slide 15: Gross margin & gross profit margin
9M 2022: GROSS MARGIN & GROSS PROFIT MARGIN Gross margin simple Gross profit simple (Revenues less COGS; (Revenues less COGS; 82.8 in % of Revenues) 21.4 22.0 in €m) 72.3 -12.7% -0.6 pps. 9M 2022 9M 2021 9M 2022 9M 2021 26.4 26.5 105.7 Gross profit margin Gross profit 95.5 (Total income less COGS; (
Slide 16: EBITDA
9M 2022: EBITDA Reported EBITDA (in €m) Q3 2022 Q3 2021 9M 2022 9M 2021 H1 2022 H1 2021 10.8 8.9 7.7 8.0 2.8 -29.3% +10.4% -143.5% -1.2 EBITDA margin: EBITDA margin EBITDA margin -1.0% (Q3 2021: 2.2%) 2.3% (9M 2021: 2.9%) 4.0% (H1 2021: 3.2%) Operative EBITDA amounted to € 7.1 million 16
Slide 17: EBIT
9M 2022: EBIT EBIT (in €m) Q3 2022 Q3 2021 9M 2022 9M 2021 H1 2022 H1 2021 4.3 3.1 2.7 -3.7 €m 0.3 1.0 -2.1 €m +1.5 €m -3.3 EBIT margin: EBIT margin EBIT margin -2.8% (Q3 2021: 0.3%) 0.3% (9M 2021: 0.8%) 2.0% (H1 2021: 1.1%) EBIT for the third quarter significantly lower than in the prior-year quart
Slide 18: P&L (excerpt)
9M 2022: P&L (EXCERPT) Unit 9M 2022 9M 2021 Revenues €m 338.3 376.2 -10.1% Revenues growth in core business: +5.2% Gross profit €m 95.5 105.7 -9.6% Prior-year figure incl. USA business Reaquisition of all shares in Extor GmbH; Personnel expenses €m 10.8 10.4 +4.4% severance payments Weaker demand in
Slide 19: Working capital
9M 2022: WORKING CAPITAL Unit 30.09.2022 31.12.2021 30.09.2021 Inventories €m 98.0 46.6 91.9 Delayed start to the season and inflationary price development Trade payables €m 130.0 84.6 111.5 Trade receivables €m 32.4 16.5 22.8 Working Capital fluctuates heavily from quarter to quarter due to seasona
Slide 20: Financial liabilities (1/3)
9M 2022: FINANCIAL LIABILITIES (1/3) in €m 30.09.2021 31.12.2021 30.09.2022 in €m 30.09.2021 31.12.2021 30.09.2022 Non-current liabilities 43.3 47.4 45.5 Current liabilities 185.3 122.7 174.7 Non-current financial liabilities 43.2 42.3 39.3 Accounts payable 111.5 84.6 130.0 thereof lease liability I
Slide 21: Financial liabilities (3/3) long-term debt
9M 2022: FINANCIAL LIABILITIES (3/3) LONG-TERM DEBT Long-term debt (in €m) Medium-term loan outside the banking syndicate 50.0 47.6 47.6 47.4 46.2 45.4 45.5 43.3 Q420 Q121 Q221 Q321 Q421 Q122 Q222 Q322 change yoy -5.2% -2.9% +4.8% +5.1% 21
Slide 22: Financial liabilities (2/3) short-term debt
9M 2022: FINANCIAL LIABILITIES (2/3) SHORT-TERM DEBT Short-term debt (in €m) Lower utilisation of credit lines 8.5 8.5 8.4 8.4 46.5 39.8 8.6 36.1 36.3 8.6 8.6 8.6 15.6 7.5 5.3 4.6 Q420 Q121 Q221 Q321 Q421 Q122 Q222 Q322 Short-term financial debt Short-term debt from operate lease change yoy (excl. o
Slide 23: Free cashflow
9M 2022: FREE CASHFLOW Free Cashflow 9M 2022 (€m) Free Cashflow 9M 2021 (€m) Cashflow from operating Cashflow from investing Cashflow from operating Cashflow from investing activities activities Free Cashflow activities activities Free Cashflow 4.4 -1.6 -1.2 -6.0 -14.4 -15.6 Delayed start to the sea
Slide 24: Outlook 2022
DELTICOM2Z Outlook 2022 WRN IO, as
Slide 25: Outlook FY 2022: revenues and EBITDA guidance
OUTLOOK FY 2022: REVENUES AND EBITDA GUIDANCE 480 – 520 €m 12 – 15 €m At least € 10 million Free Cashflow from operating activities 3.4 €m Revenues 2022e EBITDA (operative) EBITDA contribution 2022e from sale of US shares ➔ Full year guidance confirmed ➔ Initiation of a comprehensive work programme
Slide 26: Thank you for your attention!
Thank you for your attention! German Equity Forum 2022 26