Delticom (DEX) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenues rose 9.0% year-over-year to €105.4 million, with gross merchandise volume up 7.5% to €128.1 million.

• Operating EBITDA nearly doubled, increasing 93.5% to €1.6 million compared to Q1 2024, despite a €-1.3 million negative currency result.

• Net loss narrowed to €-1.2 million from €-1.4 million year-over-year; EPS improved to €-0.08 from €-0.10.

• Full-year 2025 guidance confirmed for revenues (€470–490 million) and operating EBITDA (€19–21 million).

Financial highlights

• Gross margin improved to 27.5% from 22.0% year-over-year; gross profit up 23.7% to €32.5 million.

• EBITDA margin rose to 1.4% from 0.7% in Q1 2024.

• EBIT loss reduced to €-1.0 million from €-1.6 million year-over-year.

• Total assets grew 9.0% to €257.9 million.

• Inventories rose 21.4% to €84.7 million.

Outlook and guidance

• Revenue target for 2025 set at €470–490 million; operating EBITDA expected between €19 million and €21 million.

• Demand in the European replacement tyre market will depend on broader economic conditions.