Derby Cycle AG, Germany's largest bicycle manufacturer in terms of revenue, reported revenue reached €40.3 million ($54 mm) in the first quarter ended Dec. 31, 2011, up 6.6 percent from €37.8 million ($51 mm) in the prior-year period to, on the basis of preliminary figures. Earnings before income taxes (EBIT), meanwhile, was hurt by banking advisory fees incurred fighting off a hostile takeover in the quarter.



“We further expanded our revenue year-on-year between October and December, despite the fact that these tend to be weaker months for bicycle manufacturers,” said Matthias Seidler, CEO of Derby Cycle AG. “With around 82,000 bicycles sold, we boosted sales volumes by 1.3 percent year-on-year, and achieved 6.6 percent revenue growth. Prospects also remain very good for the coming months due to the high pre-order book position at the end of the last financial year, where we registered a 25 percent year-on-year increase as of September 30, 2011.”

 

The lower EBIT is due to special one-off effects that are mainly attributable to our greater need for advisory services in connection with our own M&A activities, Accell's takeover attempts, and the takeover by Pon, said CFO Uwe Bögershausen.

Derby Cycle AG will publish its full report for the first two months of the 2011/12 financial year on February 24, 2012, and will make it available for downloading from its website at www.derby-cycle.de within the “Investor Relations” area.


Derby Cycle is Germany's largest bicycle manufacturer in terms of revenues, and one of the leading manufacturers in Europe. In particular, global demand growth for high-quality electric and sports bicycles, as well as the company's advancing internationalisation in all European volume markets, are reflected in the company's dynamic growth. Derby Cycle's product range comprises electric bicycles, sports bicycles for leisure and competition purposes, as well as comfort bikes for everyday and travel use. These bicycles are sold through the established Kalkhoff, FOCUS, Raleigh, Univega and Rixe brands. All models are developed and assembled at the company's base in Cloppenburg, Germany. These high-quality products are distributed through specialist retailers who provide their customers with professional advice and extensive service.


With around 614 employees, Derby Cycle achieved revenue of €235.5 million in the fiscal year 2010/2011, 66.9 percent of which was generated in Germany, and 33.1 percent abroad. Earnings before interest and tax (EBIT) amounted to approximately €19.6 million. Derby Cycle sold a total of around 482,000 bicycles, of which 87,000 comprised e-bikes. The company forecasts revenues of €250 million to 270 million, and an EBIT margin of 8 to 9 percent (2010/11: 8.3 percent) for the 2011/12 fiscal year that ends on September 30, 2012.