Accell Group expects an increase of net profit from ordinary operations of approximately 15% for 2008 in comparison to 2007, based on the
turnover for the period up to and including October and the prospects for the last two months of the year. Earlier this year, an increase of approximately 10% was expected.
The sale of bicycles in the high-end part of the market and the sale of electrical bicycles in particular showed a sound development in the past months.
“Cycling remains popular in economically adverse times, partly due to the increasing attention for health and mobility,” said René Takens, CEO of Accell Group. “Last summers increase in fuel prices caused a lot of consumers to think about alternative means of transportation. This led to a more frequent use of the bicycle. In addition, we are benefiting from an ageing population in Western Europe which is an important target group for sales of, among others, electrical bicycles. Both governments and consumers show increasing interest in sustainability and CO2 reduction. The bicycle provides a seamless match for this. The new collections we presented in September were well received by the dealers and the order intake for the 2008-2009 bicycle season is currently at a higher level than last year.”
The sound results allow Accell Group to continue to invest in innovation and design, both in respect of completely new models and in respect of parts and accessories. Recognisability and providing added value are essential, especially in times when consumers pay more attention to
their disposable income. The brand and marketing strategy of Accell Group will remain focused on supplying high-quality bicycles and fitness products that appeal to the consumer.
As usual, Accell Group will provide information on the prospects for the coming calendar year when it announces its annual results on 27 February 2009.