Leading European bike business Accell Group NV – which owns brands such as Raleigh and Van Nicholas, alongside Koga and Lapierre amongst others, such as newly acquired ENVE Composites – has reported operating profit of €58.5 million in 2015, 33% higher than the €44.1 million reported in 2014.
Net profit was 22% higher at €32.3 million in 2015 (2014: €26.5 million). Turnover increased by 12% to €986.4 million (2014: €882.4 million). Turnover rose organically by 9%, largely on the back of higher electric bike sales.
René Takens, Chairman of the Board of Directors of Accell Group said “We recorded a solid increase in turnover and profit in 2015. The continuing growth in the sales of electric sports bikes (e-MTBs) in various European countries made a particularly strong contribution to this increase in the results. The largest growth was noted in Germany, where [electric bike] turnover now accounts for 23% of the total turnover.
“In North America, the brands performed well among multi-sports clients, but the position with independent bike dealers (IBD members) has still not improved. The improvement in Accell Group’s operating profit and net profit was largely due to the 9% organic increase in turnover growth. The margin improved, partly as a result of the greater contribution from E-bikes in the turnover.
“The theft of money in Taiwan had an impact on the results. The investigation into this incident has yielded no new conclusions with respect to the estimated damage and we have included a one-off item of €4 million in the 2015 figures.”
He added, “Cycling will continue to be highly popular for mobility, recreational and sports purposes in the years ahead. We expect to continue to be a frontrunner thanks to our high-quality products and we also expect to add new innovations to make cycling even more attractive for various purposes.
“Based on the positive underlying trends we expect a further growth of the turnover and results for 2016, barring unforeseen circumstances.”
Accell Group focuses internationally on the mid-range and higher segments of the market for bicycles and bicycle parts & accessories. The company has leading market positions in the Netherlands, Belgium, Germany, Italy, France, Finland, Turkey, the United Kingdom and the United States.
In Europe, Accell Group is ‘market leader in the bicycle market in terms of revenue.’ Accell Group’s best known brands are Batavus (Netherlands), Sparta (Netherlands), Koga (Netherlands), Loekie (Netherlands), Ghost (Germany), Haibike (Germany), Winora (Germany), Raleigh and Diamondback (UK, US, Canada), Lapierre (France), Tunturi (Finland), Atala (Italy), Redline (US) and XLC (international).
Accell Group and its subsidiaries employ approximately 2,800 people worldwide in eighteen countries. The company has production facilities in the Netherlands, Germany, France, Hungary, Turkey and China. Accell Group products are sold in more than 70 countries. The headquarters of the company are located in Heerenveen (the Netherlands).
