Original-Research: Delticom AG (von Quirin Privatbank Kapitalmarktgeschäft): BUY
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Original-Research: Delticom AG - from Quirin Privatbank Kapitalmarktgeschäft
Classification of Quirin Privatbank Kapitalmarktgeschäft to Delticom AG
Business model remains stable and growth-oriented Delticom achieved revenue growth of 11.6% in H1 2025, this shows that the company is able to further expand its market position even in a generally stagnant replacement tire business and is benefiting from its strong online presence and the combination of its shop business and platform model. With a FY 2025 target revenue range of EUR 470-490m and planned operating EBITDA of EUR 19-21m (Quirin estimates: EUR 477m and EUR 19m, respectively), the company is signaling confidence in its operational strength. TTM sales increased by EUR 16m to EUR 506m and were therefore 3.3% higher than TTM sales in the same period of the previous year, so the current TTM development can be seen as quite positive. TTM EBITDA of EUR 17.8m (18% lower than TTM EBITDA in the same period last year) was negatively impacted by special items not by operational issues, the prospect that these burdens could be reversed in the second half of the year underscores the resilience of the business model. Measures to further reduce costs are also strengthening competitiveness. Applying our ROE/COE valuation approach, we derive a new fair value of 3.90 (4.20), therefore we confirm our BUY rating. Despite temporary earnings pressures, the qualitative development clearly points to a business model that remains stable and growth-oriented. You can download the research here: DELTICOM_AG_20250826 For additional information visit our website: https://research.quirinprivatbank.de/ Contact for questions: Quirin Privatbank AG Institutionelles Research Schillerstraße 20 60313 Frankfurt am Main research@quirinprivatbank.de https://research.quirinprivatbank.de/
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2188714 26.08.2025 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 625,76 | 541,26 | 585,37 | 509,30 | 475,69 | 481,64 | 500,00 | |
| EBITDA1,2 | -6,64 | 15,04 | 17,09 | 15,00 | 20,64 | 20,29 | 20,60 | |
| EBITDA-Margin3 | -1,06 | 2,78 | 2,92 | 2,95 | 4,34 | 4,21 | 4,12 | |
| EBIT1,4 | -42,05 | 5,36 | 7,06 | 4,22 | 11,52 | 10,21 | 10,00 | |
| EBIT-Margin5 | -6,72 | 0,99 | 1,21 | 0,83 | 2,42 | 2,12 | 2,00 | |
| Net Profit (Loss)1 | -40,78 | 6,87 | 6,81 | 2,81 | 8,03 | 4,04 | 3,85 | |
| Net-Margin6 | -6,52 | 1,27 | 1,16 | 0,55 | 1,69 | 0,84 | 0,77 | |
| Cashflow1,7 | -22,45 | 35,89 | 21,93 | -5,52 | 33,06 | 4,86 | 0,00 | |
| Earnings per share8 | -3,27 | 0,55 | 0,49 | 0,19 | 0,54 | 0,27 | 0,25 | |
| Dividend per share8 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | 0,12 | 0,08 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: BDO
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Delticom | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| 514680 | DE0005146807 | AG | 30,26 Mio € | 26.10.2006 | Kaufen | 9F4F8X9P+MJ |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 7,03 | 15,17 | 0,46 | -34,00 | 0,60 | 6,22 | 0,06 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,00 | 0,12 | 0,08 | 4,01% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 09.07.2025 | 14.05.2025 | 14.08.2025 | 13.11.2025 | 27.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -5,29% | -10,41% | -6,78% | -12,50% | -94,46% |
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