Accell Group, Europe's largest bicycle maker, said sales are up for the first few months of 2011 over last year due to early summer temperatures. The Netherlands company grew both organically as well as by means of an acquisition as demand for sports and electric bicycles exceeded levels for the same period last year.

“The trend that cycling is very popular persists and bike use increases for purposes of commuter traffic, recreation and health,” said René Takens, Chairman of the Board of Directors of Accell Group, in a statement released prior to the company's annual board of directors meeting. “Besides a further decline in the sale of traditional bikes, the turnover of sports bicycles and E-bikes grows. Electric bicycles have become an integral part of cycling in the Netherlands and in Germany with an increasing number of different models being available. The weather has thus far been better for our bicycle sales when compared with last year. We maintain our outlook for 2011 and expect a further increase in turnover and result, barring unforeseen circumstances.”

In addition to bicycle sales, sales of bicycle components and accessories also increased.Sales of fitness equipment decreased, mainly due to the closing of sales offices abroad.

The acquisition of Accell Bisiklet in Turkey and the stake in the Italian company Atala have been completed. As of Feb. 1 the financial results of both companies are being consolidated and integration of the new
subsidiaries is in progress.

Taking into account the normal effects related to the seasonal distribution of sales throughout the year, there were no significant changes in Accell Group’s financial position in the first months of 2010.