Accell Group said it expects higher revenue in the second half of 2012, driven both organically as well as through acquisitions and through growth in all product groups and key countries. Over the full year 2012 Accell Group also expects higher turnover compared to 2011. Net operating result will come in lower in 2012 compared to 2011.
“During the summer, the weather conditions were better than last year in most countries in which Accell Group sells bicycles and bicycle parts,” said René Takens, CEO of Accell Group. “This led to a continuation of first half year growth in almost all countries. We also saw a slight growth in the Netherlands. Sales of bicycle parts & accessories have increased, both organically and through acquisitions. Turnover from the small scale fitness activities remained stable while the result improved due to cost savings.
The new bicycles collection for 2013, which was presented in September, was well received by the majority of dealers, Takens said. It included several innovations for electric bikes and sports bikes such as the e:i shock system for mountainbikes presented in June, the automatic acceleration systems for electric bikes of Winora and the F3 series of Koga.
The company said that “taking into account the customary effects related to the development of the seasonal sales,” its financial position had not signficantly changed in recent months. In order to finance seasonal credit requirements, factoring agreements have been conducted for parts of the accounts receivable.
Accell Group is active internationally in the mid-range and higher segments of the market for bicycles, bicycle parts & accessories and fitness equipment. The group is the European market leader in bicycles. Accell Group’s best known brands are Atala, Batavus, Diamondback, Ghost, Haibike, Hercules, Koga, Lapierre, Loekie, Raleigh, Redline, Sparta, Tunturi, Winora and XLC.