ERJ staff report (DS)
Hanover, Germany -- Delticom, Europe's leading online tyre dealer, saw revenues and profits fall for the nine months to September 2012. Revenues fell 5.8 percent, to euro 280.4 million year-on-year. Earnings (EBIT) fell by 37.9 percent to euro 17.5 million (9M 11: euro 28.2 million) in the period.
The company said, â€œFollowing a weak first half year, the European tyre replacement market continued to lag expectations in the third quarter. After the summer tyre business had already been disappointing, the winter tyre season started much slower than last year.â€
Looking forward, the company said, â€œWhile last year's winter tyre season benefitted from an early start, this year the winter tyre business has so far been relatively sluggish. Despite good demand for winter tyres in some European countries, Management does not expect the company to exceed annual prior-year revenues anymore. Due to the challenging market environment Delticom scales back its EBIT goal for the current financial year to 7 percent - 8 percent.â€
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Press release from Delticom