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Accell Group’s Net Profit Jumps 38%

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AMSTERDAM, The Netherlands (July 18) – Thanks to its strong brand portfolio and consolidation of German brand Winora, Accell Group managed to reach a € 3.6 million net profit for its first half year which ended on June 30, 2002; up 38% compared to the same period last year. Turnover climbed 28% to € 159.2 […]

AMSTERDAM, The Netherlands (July 18) – Thanks to its strong brand portfolio and consolidation of German brand Winora, Accell Group managed to reach a € 3.6 million net profit for its first half year which ended on June 30, 2002; up 38% compared to the same period last year. Turnover climbed 28% to € 159.2 million, of which 5% was autonomous growth. Earnings per share increased 24% to € 1.09.
Accell Group CEO René Takens appeared quite happy with the results: “In the Netherlands we maintained our strong market position; results in France improved and in Germany we are better positioned through the acquisition of Winora.”
Today Winora is the third biggest bike manufacturer in Germany. Of its € 45 million turnover last year, about one third came from its Bike Parts accessories logistic center. There some 8,000 parts can be delivered within 24 hours. Takens: “The current trend in Parts & Accessories goes from classic wholesalers to international networks” Whether Accell is planning to make this its central logistic center for all its brands Takens commented: “This is a viable option, but we did not decide on this yet. We have to look carefully at this new activity.”
In terms of turnover 48% came from The Netherlands; 32% from Germany, 14% from France and 6% from other countries. Sales in Belgium and Switzerland and Austria increased. In the period under review Dutch investment ban NIB granted Accell an € 7.5 million subordinated loan for 7.5 years to strengthen its financial position to realize take-over opportunities and further growth. (FN)

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