European bike maker Accell Group N.V. of the Netherlands affirmed last week its profit and turnover, or revenue, expectations for 2009. Based on sales for the period up to and including October and the prospects for the last two months of the year, the company said it expects a higher turnover and an increase in net profit of around 10% compared to 2008. In 2008, Accell Group reported net profit of € 28.6 million ($42.1mm) on sales of € 538.0 million ($791.4mm).
“We saw an increased turnover at both bicycles and bicycle parts & accessories,” said René Takens, CEO of Accell Group. “We also notice an increased use of racing bicycles and mountain bikes for sports purposes, both for leisure and competition. The interest in electric bicycles continues unabated. We have significantly extended our E-bike product lines with E-bikes in several price ranges.”
The company said pre-season orders for new 2010 bicycle collections introduced in September were on track with last year’s levels. Conversely, sales declined in its much smaller fitness segment business, in part because international distributors could no longer arrange financing to purchase inventory.
Accell Group manufactures in the Netherlands, Belgium, Germany, Finland, France and Hungary. The Netherlands account for 45% of sales, while Germany and France contribute 25% and 9% respectively. Other EU countries account for 14%, with the remaining 7% coming from elsewhere, including the United States.
