Derby Cycle AG, Germany’s largest bicycle maker, reported strong demand for its electric bikes propelled total revenue to €134.2 million ($175 mm) in the first half of its fiscal year ended March 30 up 17.3 percent compared with €114.4 million in the first half of the previous year.
In line with revenue growth, operating profit (EBIT) grew 25.1 percent to €13.1 million ($17 mm), resulting in a 9.8 percent EBIT margin in the first half of FY 2011/12, compared with 9.2 percent in the corresponding previous-year period. The Group also reported growth in its consolidated net income, which was up by 31.5 percent to €7.9 million ($10 mm), representing €1.05 of earnings per share.
Derby Cycle is Germany’s largest bicycle manufacturer in terms of revenues, and one of the leading manufacturers in Europe. Its products 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. Its brands 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.