Accell Group has today announced that it recorded higher turnover and profit in the first quarter of 2016, compared with the same period of 2015. This increase was largely driven by higher demand for electric bikes and sports bikes in the higher price segment. Coupled with this, weather conditions in the first months of the year were reportedly favourable for bicycle sales.
René Takens, Chairman of the Accell Group Board of Directors, said “The year 2016 started well for Accell Group. Turnover has shown a positive development. Sales of electric bikes were up in all countries, especially in Germany. Sales of electric bikes also increased by more than 10% in countries where the market in this category is more modest. On top of this, we are seeing a clear rise in the demand for our sports bikes.
“This resulted in an increase in the average price of the bikes we sold compared to the same period in 2015. Turnover in parts & accessories came in at the same level as last year. The higher turnover we recorded helped us to book a healthy increase in profit for the first three months of 2016. We therefore maintain our forecast for 2016 of a further increase in turnover and profit, barring unforeseen circumstances.”
Accell Group announced on 1 April 2016 that it had agreed to sell its North American parts & accessories (P&A) business to Hawley-Lambert, a P&A company with operations in the United States and Canada. With this transaction, Accell Group wants to increase its focus on its core business in the United States, via its own bicycle brands and related merchandise.
Accell Group has also agreed with Hawley-Lambert that it will be given the exclusive distribution rights in the United States and Canada for Accell Group’s proprietary accessory brand XLC. The transaction will reportedly have a positive impact on Accell Group’s operational result and its working capital.
Taking into account the normal effects related to the seasonal sales cycle for bicycles, there were no significant changes in Accell Group’s financial position in the first months of 2016. The Accell Group N.V. Annual General Meeting of Shareholders will be held today at 14:30 CET at the offices of Accell Group in Heerenveen, Netherlands.
Accell Group focuses internationally on the mid-range and higher segments of the market for bicycles and bicycle parts & accessories. The company claims leading positions in the Netherlands, Belgium, Germany, Italy, France, Finland, Turkey, the United Kingdom and the United States.
In Europe, Accell Group is a market leader in the bicycle market in terms of turnover. 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 3,000 people in 18 countries worldwide. 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 company’s headquarters are located in Heerenveen (the Netherlands). Accell Group shares are traded on the official market of Euronext Amsterdam and included in the Amsterdam Small Cap index (AScX). In 2015, Accell Group recorded turnover of €986 million.
