Delticom Ag · XETR:DEX
Delticom — FY2019 Earnings Presentation
15 slides from Delticom's earnings presentation, Mar 30, 2020
Slide 1: A firm grip on the road to success
Delticom Europe's leading online tyre retailer A firm grip on the road to success
Slide 2: Agenda
Agenda Content of webcast • Industry trends - briefly • Delticom focus - tyres Europe • Impact deinvestments • Key financials 2019 – P&L – Adjusted operating EBITDA – Balance sheet – Funding • Outlook financials 2020 • Current topics – COVID 19 potential impact – Supervisory board as of March 2020 •
Slide 3: Financial year 2019: Industry Trends
Financial year 2019: Industry Trends • Consolidation in the European replacement tyre market continues; recent example: insolvency of a major market participant early in 2020 • Various European market players discontinued their online shops last year • Volume decline 2019 in the European replacement
Slide 4: Refocusing on core business: Online tyre retailing in Europe
Refocusing on core business: Online tyre retailing in Europe ▪ Around € 500+ million sales p.a. in European core business ▪ Ziel: Umstrukturierungsstrategie Around 120+ employees überzeugt Banken und Geschäftspartner ▪ Digitalization as key factor for future growth ▪ Medium-term target is an operati
Slide 5: Refocusing on core business: Divestment of loss-makers
Refocusing on core business: Divestment of loss-makers • Restructuring process initiated in 2019 • Discontinuation of loss-making operations: – Allyouneed Fresh discontinued as of December 31st 2019 – Lebensmittel.de will be discontinued with effect from March 31st 2020 – Deltiparts (car parts, oil)
Slide 6: Financial year 2019: Key Financials (P&L)
Financial year 2019: Key Financials (P&L) € +14 million ooi from logistics project Unit 2019 2018 Sales €m 625.8 645.7 -3.1 % 21.6 % GPM (ex write-downs: 22.6 %) Other operating €m 37.6 38.1 -1.2 % income € -4.4 million marketing spent Total income €m 663.4 683.8 -3.0 % EBITDA €m -6.6 9.0 > -100.0 %
Slide 7: Financial year 2019: Key Financials (adjusted operating EBITDA)
Financial year 2019: Key Financials (adjusted operating EBITDA) Unit 2019 (1) Impairment of inventories (stock tyres & parts) EBITDA (reported) €m -6.6 (2) Severance payments Adjustment of one-time effects (1) Cost of materials €m 4.6 (3) Contingent loss provision (2) Personnel expenses €m 0.6 (3) I
Slide 8: Financial year 2019: Balance Sheet – Assets (excerpt)
Financial year 2019: Balance Sheet – Assets (excerpt) Unit 31.12.2019 31.12.2018 Impairment intangibles deinvest Non-current assets €m 88.8 85.9 +3.4 % Intangible assets €m 41.6 59.7 -30.3 % Property, plant & Impairment PP&E deinvest €m 11.2 21.7 -48.4 % equipment Right of use assets €m 24.3 – n/a I
Slide 9: Financial year 2019: Balance Sheet – Equity & Liabilities (excerpt)
Financial year 2019: Balance Sheet – Equity & Liabilities (excerpt) 31.12.201 31.12.201 Unit 9 8 Equity €m 8.3 49.3 -83.2 % Burdened by negative result Capitalization rights of use Liabilities €m 179.9 183.3 -1.8 % +346.2 Long term borrowings €m 29.0 6.5 % Payables in line with inventories Accounts
Slide 10: Delticom is entirely funded until Dec 31th 2021
Delticom is entirely funded until Dec 31th 2021 and strives to reduce bank liabilities by about € 30 m Group Cash überzeugt Ziel: Umstrukturierungsstrategie Balance (€Banken m) und Geschäftspartner 40 20 0 -20 -40 -60 -80 02.01. 11.01. 20.01. 29.01. 07.02. 16.02. 25.02. 05.03. 14.03. 23.03. 01.04. 1
Slide 11: Outlook FY2020: Sales and EBITDA Guidance
Outlook FY2020: Sales and EBITDA Guidance € 600 – 630 m Ziel: Umstrukturierungsstrategie überzeugt Banken und Geschäftspartner * expected restructuring invest 2020 of about 4 m€ - mainly legal and consultancy costs €5–9m €1–5m Sales EBITDA (reported) Operating EBITDA 2020e 2020e 2020e Strong focus o
Slide 12: Outlook FY2020: Impact of COVID 19 pandemic
Outlook FY2020: Impact of COVID 19 pandemic • As of end of March: shutdown in key European Ziel: Umstrukturierungsstrategie economies überzeugt Banken such as Italy, Germany or France und Geschäftspartner Car density on 20 March in relation to car density on 24 January 2020 • Restriction of the ever
Slide 13: Change in the Supervisory Board as of March 2020
Change in the Supervisory Board as of March 2020 Ziel: Umstrukturierungsstrategie überzeugt Banken und Geschäftspartner • Rainer Binder and Alan Revie had resigned at the end of February for personal reasons after a long-term support over years • Rainer Binder is going to support Delticom with his e
Slide 14: Outlook FY2020: Overall strategic direction
Outlook FY2020: Overall strategic direction Objective: Delticom is Europe’s strongest Ziel: Umstrukturierungsstrategie überzeugtand Banken und Geschäftspartner most profitable company in online tyre retailing • Focus on the core business of online tyre retailing in Europe • Sale and discontinuation
Slide 15: Q&A
Q&A Ziel: Umstrukturierungsstrategie überzeugt Banken und Geschäftspartner A firm grip on the road to success 15