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DGAP-News: Delticom AG postpones Annual General Meeting // Update on current business development

DGAP-News: Delticom AG postpones Annual General Meeting // Update on current business development

DGAP-News: Delticom AG / Key word(s): AGM/EGM
Delticom AG postpones Annual General Meeting // Update on current business development

27.04.2020 / 09:28
The issuer is solely responsible for the content of this announcement.


Delticom AG postpones Annual General Meeting // Update on current business development

Hanover, April 27, 2020 - As a consequence of the ongoing corona pandemic, Delticom AG (German Securities Code (WKN) 514680, ISIN DE 00005146807, stock market symbol DEX) will not hold its Annual General Meeting convened for May 5, 2020 as planned. The invitation to the Annual General Meeting 2020 published in the Federal Gazette on March 27, 2020 is therefore invalid.


Delticom AG's management intended to be personally available to answer shareholders' questions during the attendance event, and hoped that there would be some relaxation in good time to allow the Annual General Meeting to be held in person.

In view of the continued spread of the corona virus and the measures extended by the State Government of Lower Saxony in this regard, Delticom AG now sees itself, in order to protect the health of its shareholders, employees and all service providers participating in the Annual General Meeting, in the commitment to use the simplification options provided by legislator in the course of the pandemic. As a result, the management has now decided to hold an online Annual General Meeting accordingly.

Delticom AG will set a new date for the Annual General Meeting as soon as possible, and will convene it accordingly within the specified period.


Current business development

As expected, consolidated revenues in the first quarter were down on the previous year. In addition to persistently cold temperatures, the shutdown decisions of various European countries aimed to get a grip on the corona pandemic also had an impact in the first quarter. In Southern European countries in particular, the lives of private consumers were considerably restricted in order to reduce the high infection rates and the speed at which the disease spreads.

With the warmer temperatures in April, the refitting business in the classic changeover countries has clearly gained momentum. The workshops in Germany are open so that professional tyre changes can be carried out easily. Revenues development in the month of April has so far been on target, primarily due to the good demand in business with private end customers. In the current situation, customers of ReifenDirekt make use of the advantages of contactless online tyre purchasing. The individual countries in Europe in which the company is operating show different pandemic status. While countries such as Austria and Germany have entered a phase of gradual easing of restrictions, countries such as France, Italy and Spain have again extended the shutdown period. At present, Delticom AG's management is confident that at least part of the first quarter's downturn in revenues can be made up over the coming weeks with further easing of measures in Europe, as a catch-up effect can also be expected in business with commercial end customers.

On May 14, 2020, the company will publish the key points of the business development in the first quarter.

(End of disclosure)


About Delticom:

With the brand Reifendirekt, Delticom AG is the leading company in Europe for the online distribution of tyres and complete wheels.

The product portfolio for private and business customers comprises an unparalleled range of more than 600 brands and around 18,000 tyre models for cars, motorcycles, bicycles, trucks, commercial vehicles and buses. Complete wheels and rims complete the product range. The company operates 440 online shops and sales platforms in 75 countries, serving around 15 million customers.

As part of the service, the ordered products can be sent to one of Delticom's approximately 39,000 service partners worldwide for mounting at the customer's request.

Based in Hanover, Germany, the company operates primarily in Europe and the USA and has extensive expertise in the development and operation of online shops, internet customer acquisition, internet marketing and the establishment of partner networks.

Since its foundation in 1999, Delticom has built up comprehensive expertise in designing efficient and fully integrated ordering and logistics processes. The company's own warehouses are among its most important assets.

In fiscal year 2019, Delticom AG generated revenues of around 626 million euros. At the end of last year, the company employed 242 people.

Delticom AG shares have been listed in the Prime Standard of Deutsche Börse since October 2006 (ISIN DE0005146807).

On the internet at: www.delti.com


Contact:

Delticom AG
Investor Relations
Melanie Gereke
Brühlstraße 11
30169 Hannover
Phone: +49 (0)511-93634-8903
Fax: +49 (0)511-8798-9138
Email: melanie.gereke@delti.com



27.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Delticom AG
Brühlstraße 11
30169 Hanover
Germany
Phone: +49 (0)511 93634 8000
Fax: +49 (0)511 8798 9138
E-mail: info@delti.com
Internet: www.delti.com
ISIN: DE0005146807
WKN: 514680
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1029971

 
End of News DGAP News Service

1029971  27.04.2020 

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