ERJ staff report (DS)
Hanover, Germany -- European online tyre retailer Delticom AG has reported preliminary revenues up by 20 percent in the 12 months to December 2009. It will issue official numbers on 23 March this year.
The company said revenues reached Euro 310 million, up by 20 percent year-on-year. Meanwhile earnings (EBIT) was up by 70 percent at Euro 28 million, reaching a margin of over 9 percent.
The company expects to see similar performance in 2010, forecasting revenues up by 10 percent and earnings falling slightly to a margin of 8 percent.
Delticom said "The extreme snowy weather in many European countries translated into the highest tyre sales in Delticom's history. In Germany new car registrations resulting from the scrappage scheme created further selling opportunities for winter tyres. As a result, revenues in the closing quarter were EUR 108 million, up 29% from last year.
Delticom said the tyre industry has been difficult this year, but online retailers have fared better than high street stores. reflecting this resliience, said Delticom, 800.000 customers purchased tyres for the first time in one of the company's many online shops.
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Press release from Delticom