CLOPPENBURG, Germany - Derby Cycle AG, part of the Pon Bicycle Group, reports a growth in revenue of 17.3% from 114.4 million euro in the prior-year period to 134.2 million euro in the first two quarters of its 2011/2012 fiscal year as of April 30, 2012.
In line with revenue growth, operating profit (EBIT) grew 25.1% to 13.1 million euro (prior-year period: 10.5 million euro), resulting in a 9.8% EBIT margin in the first half of FY 2011/12, compared with 9.2% in the corresponding previous-year period.
“Growth on home and export market”
Mathias Seidler, CEO of Derby Cycle AG, stated: “We have continued our success story of the past years during the current business year. Our operating business registered growth both in Germany and on foreign markets. With significant growth in the sales of electric bikes, we have also further expanded our leading position in this high-revenue growth market.”
The number of electric bikes sold in the comparable period of the previous year amounted to 38,899 units, sales grew by 36.7% to 53,190 units in the period under review. In overall terms, approximately 252,248 bicycles from the Kalkhoff, Raleigh, Rixe, Focus and Univega brands were shipped at company in the period under review, compared with 243,890 bikes in the comparable period, representing 3.4% growth. The foreign share of revenue remained stable at 30.8% (prior-year period: 32.1%).
“We expect further sales growth in the 2011/2012 financial year, driven particularly by the business’s advancing internationalisation, and continued high demand for electric bikes. Pre-orders to date confirm us in this view”, said Mathias Seidler.
“The ongoing state debt crisis in the Euro zone and its effects on the economic situation, prove to be a topic of controversial discussion, including among experts. Such discussions also do not exclude a massive cooling of economic growth, with corresponding consequences for production and consumption. Should it come to such an economic downturn, we would also be unable to decouple from such trends.”
“On this basis, we are assuming sales revenue of 250 million to 270 million euro for the current 2011/2012 financial year, whereby the relative sales share of both segments outside Germany will rise. We anticipate that the 2011/2012 EBIT margin will be between 8 and 9%.”