Derby Cycle AG, Germany's largest bicycle manufacturer in terms of revenue, said its fourth-quarter revenue grew 25.8 percent to €36.6 million ($52 mm) based on preliminary figures. The company expects to report revenue for the full 2010/11 financial year grew 36 percent to €235.5 million ($329 mm).
“We have achieved a further record year in our company's history through successfully and stringently implementing our three-pillar strategy of internationalization, focus on specialist retailers and our concentration on the electro-bike megatrend,” said Mathias Seidler, CEO of Derby Cycle AG. “We reached important milestones in the 2010/11 financial year. Utilizing some of the proceeds from our successful IPO in February 2011, we took over direct sales in Great Britain and Australia ourselves. As the result of our joint venture with the electro-motor specialist Daum Forschung und Entwicklung, we also regard ourselves as very well positioned to further expand our market and technology leadership in the future. The electro-bike is spurring the entire bicycle sector and we are right at the front in this respect.”
Uwe Bögershausen, the company's CFO said the company’s recent merger with Pon Holdings provided a strong partner to support future development. He said Derby’s preorder volume at the autumn bike trade show increased significantly on a year-on-year basis.
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.
