Delticom Results Very Strong, But Not Unexpected – Analysts

In response to Delticom’s record full-year 2010 figures, financial analysts have commented on the “very strong preliminary full-year figures.” Prior to the release of the preliminary numbers, which Tyres & Accessories published online at tyrepress.com on 17 January, the company predicted it would achieve 30 per cent growth and a pre-tax profit margin (EBIT) of 11 per cent. However financial analysts at Deutsche Bank had predicted that the company would outperform these already strong figures.

Delticom’s subsequently published 35 per cent growth rate and 11.4 per cent EBIT margin is generally in line with what Deutsche Bank predicted and slightly ahead of other analysts’ consensus (11.6 per cent and 10.8 per cent respectively). And all of this led the analysts to comment:

“As exceptional as these results are, it is little surprise after recent statements triggered by the winter tyre boom across Europe and in particular Germany which is why the main focus for investors was on 2011 guidance…To sum up, a mixed picture with very strong fundamental 2010 figures being supportive for the stock and likely triggering…increases after the recent weakness but cooled down as some investors were already anticipating a more positive tone on 2011.”

Related News:

• 2010 a ‘Record Year’ for Delticom

• Delticom Eyes Up Emerging Markets with Tyrepac Purchase

• Delticom Acquires Asian Retail Portal

• Delticom Raises 2010 Forecast