Delticom Q1 profits slide on lower winter tyre sales

ERJ staff report (DS)

Hanover, Germany - Delticom, Europe's leading online tyre dealer, said profits fell on stable revenues for the first three months of 2012. The company will give more details tomorrow.

Q1 revenues were recorded at euro 85.5 million compared with euro 85.4 million a year earlier. EBIT fell to euro 3.4 million from euro 5.9 million in the same period of 2011.

Delti said, “Due to unfavourable weather conditions in the first quarter, Delticom's business developed below plan. At the beginning of the year market-wide demand for winter tyres was depressed by a lack of snowfall. Additionally, temperatures ahead of the Easter holiday were too low for a good start into the summer season. “

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Press release from source