Europe's leading online

tyre retailer

H1 2023 Results

1

Market environment H1 2023

Key financials H1 2023

AGENDA

Outlook H1 2023

Content of Webcast

1

2

3

2

H1 2023: MARKET ENVIRONMENT (1/2)

Consumer sentiment remains very tense due to inflation at a continuing high level

According to ETRMA, European tyre industry saw volume decrease of 12.0 % in H1 2023 in the consumer tyre segment (summer: -11 %, all-season: 0 %, winter: -32 %); market participants are more cautious against the backdrop of consumer demand burdened by global economic insecurity and rising costs

According to ETRMA and WdK, in Germany consumer tyre sales for passenger cars fell 2.8 % in H1 2023 vs. H1 2022 (summer: -12.0%, all-season:+11.8 %, winter: -1.6%)

According to bevh, the trend of decreasing revenues in e-commerce continued in Q2 2023; revenues for the German online retailing decreased by 13.7 % in H1 2023

3

H1 2023: REVENUES DEVELOPMENT

Revenues (in €m)

-3.8 %

GMV

220

-8.8 %

-0.2 %

GMV

GMV

198

-10.0% /

-22.0€m

H1 2023

H1 2022

78

91

-13.8% /

-13.0€m

Q1 2023

Q1 2022

120

129

-7.4% /

-9.0€m

Q2 2023

Q2 2022

Gross merchandise volume (GMV)

Previous shop business supplemented by platform business results in a partial shift of shop revenues to the platform; commission contributions are realized for the shifted share of revenues

While demand from private end customers stabilized in the second quarter, business with commercial customers was somewhat weaker yoy in line with market development

4

H1 2023: GROSS MARGIN & GROSS PROFIT MARGIN

Gross margin simple (Revenues less COGS; in % of Revenues)

Gross profit margin (Total income less COGS; in % of Total income)

22.9

21.2

+1.7 pps.

H1 2023

H1 2022

29.1

27.6

+1.5 pps.

H1 2023

H1 2022

Gross profit simple (Revenues less COGS; in €m)

Gross profit

(Total income less COGS; in €m)

45

47

-2.9%

H1 2023

H1 2022

63

66

-4.9%

H1 2023

H1 2022

Increase in gross margin mainly due to the changed sales mix Demand for low-priced quality tyres increased due to inflation

5

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Delticom AG published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 08:57:03 UTC.