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Delticom AG: Successful start to the current business year
- Preliminary revenues in the first quarter 2010 EUR 74 million (+45%)
- +50% revenue growth in E-Commerce division
Delticom AG (German Securities Code (WKN) 514680, ISIN DE0005146807, stock exchange symbol DEX), Europe's leading online tyre retailer, has published preliminary figures for the first quarter of 2010. Revenues have increased by approximately 45% to EUR 74 million, compared with EUR 51.0 million for the same period in the previous year. E-Commerce revenues for the first quarter totalled EUR 70 million (Q109: EUR 46.7 million, up 50%).
Traditionally, the first three months of the year are the weakest quarter in the tyre trade. The cold and snowy winter extended until well into the quarter just ended. This provided Delticom with continued good sales opportunities for winter tyres at the beginning of the year. The company is also highly satisfied with the onset of this year's summer tyre business. With the rising temperatures and spring-like weather conditions in March, many drivers across Europe have already switched to summer tyres in the first quarter. Frank Schuhardt, CFO: "For both winter and summer tyres our revenues in the first quarter markedly exceed our expectations."
In the meantime, the majority of economic experts hold the opinion that European consumers have been less impacted by the effects of the recession than originally feared. Moreover, Delticom is benefiting from the rising trend towards E-Commerce. According to a current Forsa survey of German drivers commissioned by Delticom AG, some 40% of the respondents in the age bracket between 18 and 39 years could well envisage buying their tyres on the Internet in future.
The full report for the first quarter of 2010 will be published by Delticom AG on 10 May 2010 on its website www.delti.com in the section entitled "Investor Relations".
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