Accell Group posted a 17.0% growth in profits in 2008 due to strong sales of bicycles, a better product mix and the acquisition of Ghost. The Dutch bicycle and fitness company reported profits of 28.6 million ($36.0 mm) compared with 24.4 million ($30.7 mm) in 2007.
Accell racked up 538.0 million ($677.5 mm) in sales last year, up 13.0% from 476.1 million ($599.4 mm) in 2007. Strong sales in Germany and The Netherlands helped offset a decrease in France, which was due to the end of deliveries to hypermarkets (a combination of grocery and department store).
Accell sold 974,000 bikes last year, up 3.3% from 943,000 the year before. E-bikes performed particularly well with 40% more units sold in 2008 than 2007. The acquisition of Ghost and the growth in sales of electric bicycles have had a significant effect on the rise in the average price.
Sales in the bicycle division, which includes the Lapierre, Batavus, Ghost, Redline, Koga and Sparta brands, among others, came in at 498.6 million ($627.8 mm), an increase of 15.5% from 431.5 million ($543.3 mm) the year before.