Biking and fitness giant Accell Group NV secured solid growth in turnover and profits in 2008. The organisation, which owns road bike brands such as Koga, Lapierre and Mercier, saw turnover increase by 13% to €538 million (US$680 million), of which 8% was derived from organic growth.
Accell reported strong sales of bicycles, a better product mix and the acquisition of the Ghost bike business. Net profit rose by 17% to €28.6 million (US$36 million) in the year. This translates into a 14% increase in earnings per share to €2.95 (US$3.73).
Strong sales by Accell in Germany and the Netherlands helped offset a decline in France, where there was a cessation of deliveries to hypermarket outlets.
Sales in Accell’s bicycle division increased by 16% to reach €498.6 million (US$630 million). Value gains outpaced volume gains in 2008, suggesting a strong price positioning for the group. Accell sold 974,000 bikes in 2008, up from 943,000 in 2007 and representing a 3.3% volume gain.
Ren
