The Accell Group reported that 2007 fiscal year sales increased 17% to 431.7 million ($559.9 mm). Organic growth for the full year came in at 9%. The acquisitions of Seattle Bike Supply and Webena Sport, added 7% to the top line. Earnings per share on the average number of outstanding shares came in at 2.00 ($3.59). This is an increase of 15% compared with the earnings per share booked in 2005.
Net sales in the bicycle segment rose by 14% to 386.2 million ($501.2 mm) in 2006. Of this, 6% of the growth was organic and 8% the result of acquisitions. Accell Group sold 917,000 bicycles, around 7% more than in 2005 (858,000), while the average price per bicycle rose by 2% to roughly 339 ($440).
Net sales in the fitness segment grew almost completely organically to 45.6 million ($59.2 mm). The rise in turnover in the fitness segment was in large part due to the launch of new products and to new clients.
