Delticom publishes Annual Report 2025: Revenues slightly higher than last year, dividend proposal of € 0.12 per share 

Hanover, March 26, 2026 – Delticom AG (German Securities Code (WKN) 514680, ISIN DE 0005146807, stock market symbol DEX), Europe’s leading online retailer for tyres and complete wheels, today published its Annual Report 2025. 

• Gross merchandise volume (GMV) increased to € 601 million (2024: € 597 million)
• Revenues of € 484 million (forecast for 2026: € 480-520 million)
• Operating EBITDA amounted to € 20.1 million (forecast for 2026: € 19-24 million)
• Net income totalled € 4.1 million (2024: € 4.0 million)
• Expected dividend of € 0.12 per share
• Increase in equity to € 54.3 million (2024: € 52.0 million)

Fiscal year 2025

Last year, the European replacement tyre market saw a decline. Although demand for all-season tyres increased, the largest sub-segment in terms of volume – consumer tyres (car, SUV and light commercial vehicle tyres) – saw a 2 % year-on-year decrease in the number of units delivered by the industry to retailers. While summer tyres saw a volume decline of 7 %, the volume decrease for winter tyres was 2 %. The investigation launched by the EU in May regarding possible anti-dumping duties on tyres produced in China led to adjustments in the supply chain, particularly in the second half of the year, with corresponding effects on import volumes, stock levels and prices in the European replacement market.

In this challenging market environment, Delticom group generated revenues of € 484 million in the past financial year (2024: € 482 million), an increase of 0.4 %. The company’s business focus and flexibility proved their worth once again in the past financial year: weaker demand in certain countries was largely offset by growth in other markets. For the first time, revenues also include income from project business, which was previously reported under other operating income. This project income totalled € 6.6 million in the past financial year (2024: € 1.5 million).

The existing shop business had already been supplemented by the platform business in the 2023 financial year. The company provides the technical infrastructure and its sales and process expertise to enable external third parties to sell goods online to Delticom’s private and commercial end customers. Commission income is recognised in respect of the relevant share of revenues. The platform business developed as planned in the 2025 financial year and continued to grow in importance within Delticom group. Gross merchandise volume increased to € 601 million for the full year (2024: € 597 million, +0.7%).

The gross margin (trading margin excluding other operating income) stood at 26.7 % for the past financial year, compared with 25.5 % in the corresponding period of the previous year. At 32.0 %, the gross margin achieved in the final quarter of the year was significantly higher than in the previous year (Q4 2024: 24.0 %). This increase is partly due to the reclassification of income from project business from other operating income to revenues. The improvement is also linked to sales management in the winter season, which was more strongly focused on profitability.

EBITDA amounted to € 19.8 million, a decrease of 2.4 % compared with the previous year (2024: € 20.3 million). The negative currency result of € 1.3 million (previous year: € +0.2 million) could not be fully offset. Expenses relating to the syndicated loan agreement amounting to € 0.4 million were classified as non-operating. Accordingly, operating EBITDA amounts to € 20.1 million (2024: € 22.7 million). In 2024, the operating result had been significantly higher due to the warehouse relocation and an inflation premium paid, which both were recognised in the non-operating result in addition to the syndicated loan costs.

Due to inventory write-downs of € 1.2 million recorded in the first half of 2025, EBIT stands at € 8.9 million, which is € 1.3 million lower than in the previous year (2024: € 10.2 million).

Tax expense amounts to € 2.3 million (2024: € 3.6 million). This consists mainly of deferred taxes. In the previous year, deferred taxes of € 3.1 million included non-current expenses of € 0.9 million.

At € 4.1 million or € 0.28 per share, consolidated net income stands in line with the previous year (2024: € 4.0 million, or € 0.27 per share). Delticom AG’s earnings relevant for the dividend distribution amounts to € 5.4 million or € 0.37 per share (2024: € 2.7 million or € 0.18 per share). The Management Board and the Supervisory Board of Delticom AG will propose to the Annual General Meeting on July 7, 2026 to distribute € 0.12 per share from the balance sheet profit of € 5,445,578.58 for the shares outstanding at the time of distribution and to carry forward the remaining amount to new account. The company will commission a new warehouse near Hanover in the third quarter. Investments in the equipment for the new warehouse location will place an additional strain on liquidity in the first three quarters of 2026, on top of winter stockpiling. For liquidity management reasons, it is proposed that the dividend payment to shareholders should take place on October 6, 2026, and thus after the start of the winter season.

Outlook 2026 

Although experts currently anticipate moderate growth in the eurozone for 2026, the economy remains subdued due to structural weaknesses, geopolitical risks and trade conflicts. At present, there are still considerable uncertainties regarding both overall market developments and the willingness of European consumers to spend. Our planning does not factor in the risk of a significant deterioration in the economic and sectoral conditions. The introduction of anti-dumping duties on tyres produced in China cannot be ruled out. It is not possible at this stage to estimate with certainty to what extent, in the event of anti-dumping duties, the required supply volumes can be fully sourced from relocated production sites as early as this year. Persistently high fuel prices due to the war in the Middle East could further influence consumer driving behaviour. Due to these uncertainties, management is forecasting a wider range of € 480–520 million for revenues in the current financial year.

The company expects to further reduce costs in the current year through additional efficiency improvements, coupled with the increased use of new technologies, in order to offset inflation-driven cost increases. For full-year operating EBITDA, the Management Board is targeting a range of € 19-24 million, depending on revenues.

Andreas Prüfer, CEO of Delticom AG, comments on the 2025 financial results as follows: “2025 has shown that our focus on offering our customers the easiest way to find the right tyre has once again borne fruit. Through ReifenDirekt, we combine attractive prices, high availability and fast delivery with a strong network of partner garages across Europe. At the same time, we are consistently committed to using AI and automated technology throughout our processes to continuously improve advice, availability and order processing – for an even faster and simpler shopping experience.”

The complete report for the 2025 fiscal year can be downloaded from the website www.delti.com within the “Investor Relations” section.


Delticom Group – Key Figures 

 
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About Delticom:

With its brand Reifendirekt, Delticom AG is the leading company in Europe for the online distribution of tyres and complete wheels.

The product portfolio for private and business customers comprises an unparalleled range of around 600 brands and more than 80,000 tyre models for cars and motorcycles. Complete wheels and rims complete the product range. The company operates 340 online shops and online distribution platforms in 68 countries, serving over 20 million customers. In the online shop Reifendirekt.de, sustainable and resource-saving tyres are labelled accordingly and awarded a sustainability seal.

As part of the service, the ordered products can be sent to one of Delticom's around 25,000 partner garages in Europe for mounting at the customer's request.

Based in Hanover, Germany, the company operates primarily in Europe and has extensive expertise in the development and operation of online shops, internet customer acquisition, internet marketing and the establishment of partner networks.

Since its foundation in 1999, Delticom has built up comprehensive expertise in designing efficient and fully integrated ordering and logistics processes. The company's own warehouses are among its most important assets.

In fiscal year 2025, Delticom AG generated revenues of around 484 million euros. At the end of last year, the company employed 100 people.

Delticom AG shares have been listed in the Prime Standard of Deutsche Börse since October 2006 (ISIN DE0005146807).

On the internet at: www.delti.com


Contact: 

Delticom AG
Investor Relations
Melanie Becker
Hedwig-Kohn-Straße 1
31319 Sehnde
Phone: +49 (0)511-93634-8903
Fax: +49 (0)511-8798-9138
Email: melanie.becker@delti.com