Accell Group reported revenues for the year-to-date through November came in at €1.29 billion, up 4.4 percent versus 2020.
EBIT through November reached €107 million, or 8.3 percent of net sales, up 32.1 percent versus 2020.
Accell also announced it will fully repay its GO-C facility this December and rearranged its existing Revolving Credit Facility (RCF) from seasonal to full-year availability to better reflect the change in seasonal patterns.
Ton Anbeek, CEO, Accell Group, said, “Considering the limited component availability circumstances we saw good sales levels and continued strong profit accretion in H2 2021 through November. We benefitted from our various initiatives aimed at mitigating the ongoing effects of the global component shortages and recovering added value. In parallel, we continued to execute our strategy with good progress on our digital roadmap across brands and regions and market introductions of multiple innovations across our bicycle brand portfolios. Over the past months, we also launched several new e-cargo concepts across our Raleigh, Lapierre, Batavus, and Winora brands to further strengthen our leading position in this fast-growing bicycle segment. Overall, we are well on track to meet our 2022 targets.”
Accell’s portfolio includes Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe, and Carqon. XLC is the company’s brand for bike parts and accessories.
