Delticom AG: Stable Growth Amid Stagnant Market

Delticom AG has been reaffirmed with a "BUY" recommendation by Quirin Privatbank Kapitalmarktgeschäft, with a target price set at EUR 3.90. The research highlights Delticom’s revenue growth of 11.6% in the first half of 2025, showcasing its ability to expand its market position despite a generally stagnant replacement tire business. The company's strong online presence and strategic combination of shop business with a platform model aid this expansion.

The estimated revenue for the full year 2025 is between EUR 470-490 million, with an expected EBITDA of EUR 19-21 million. Recent trailing twelve months (TTM) sales increased by EUR 16 million to EUR 506 million. Despite a decrease in TTM EBITDA due to special items, the prospect of reversing these effects in the latter half of the year highlights the resilience of Delticom’s business model.