Delticom AG Reports Growth in 2023 Financial Year, Net Income Increases to €8 Million

Delticom AG, a top European online retailer for tyres and complete wheels, revealed in its 2023 Annual Report significant financial achievements, including a net income rise to €8 million from €3 million the previous year. This growth has established a foundation for a potential dividend in 2025.

The Hanover-based company reported a Gross Merchandise Volume (GMV) of €586 million and revenues of €476 million for 2023, with projections set between €450 and €470 million for 2024. Moreover, the company achieved an operating EBITDA of €22 million, surpassing its forecast range.

Significant strategic adjustments included a shift from traditional shop sales to a platform-based approach, enabling third-party sales through Delticom’s infrastructure. This shift accounted for the year-on-year revenue decrease from €509 million in 2022. Additionally, the fiscal strategies involved a substantial reduction in financial debt and an increase in equity to €48 million.

Despite these positive results and a weakened inflation, Delticom remains cautious about 2024 due to ongoing global economic uncertainties, predicting stable revenue within the forecasted range and an operating EBITDA from €19 to €21 million.