During the Annual General Meeting of Shareholders, Accell Group N.V. plans to announce that a further growth in turnover and profit is expected for 2010.
Accell Group in a statement said that it will maintain its previous outlook. Sustained interest in recreation, mobility,health and the environment will continue to stimulate the use of bicycles, the company said.
Ren Takens, Chairman of the Board of Directors of Accell Group: “After a relatively long winter, we saw bicycle sales picking up again as from the middle of March. Turnover is currently at the same level as last year. The bicycle is popular and the consumer likes to invest in a product that brings joy, is healthy and offers easy and affordable mobility, particularly in urban areas. The turnover of our fitness products has risen compared to last year. Therefore, we appear to have seen the worst for this segment. We maintain our expectation that for the full year 2010, turnover and result will increase, barring unforeseen circumstances.”
Consumers were particularly interested in electric and sports bicycles. The trends that we saw in the bicycle segment in the last few years are therefore continuing unabated. The turnover in the bicycle parts & accessories segment increased compared to last year. Both the proprietary brand XLC and the extension of the portfolio with high-end brands have contributed to this. Taking into account the normal effects related to the seasonal distribution of sales throughout the year, there were no significant changes in Accell Groups financial position in the first months of 2010.”
Annual General Meeting of Shareholders
The Annual General Meeting of Shareholders of Accell Group N.V. will be held today at the offices of subsidiary Batavus B.V. in Heerenveen, the Netherlands.
Accell Groups best known brands are Batavus, Bremshey, Ghost, Hai Bike, Hercules, Koga-Miyata, Lapierre, Loekie, Redline, Sparta, Staiger, Tunturi, Winora and XLC.
