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Accell’s 2003 Results: Healthy Figures

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HEERENVEEN, the Netherlands – (February 26th) Accell presented its annual figures over 2003. The holding of bike making companies in The Netherlands, France, Hungary and Finland, increased its turnover from € 259.4 million to € 289.6 million, explained as an autonomous growth of 6% plus 6% from the takeover of Tunturi in Finland. Profit was […]

HEERENVEEN, the Netherlands – (February 26th) Accell presented its annual figures over 2003. The holding of bike making companies in The Netherlands, France, Hungary and Finland, increased its turnover from € 259.4 million to € 289.6 million, explained as an autonomous growth of 6% plus 6% from the takeover of Tunturi in Finland. Profit was € 9.2 million, vs € 6.8 million in 2002. Accell shareholders will get € 1.30 per share (2002: € 0.95) either in stock or in cash. Value of the Accell shares has increased during the past 12 months from € 12.70 to € 20.25.
The Accell performance was influenced by the weak ratings of the US dollar and the Yen – supplies accounted for 63.8% of the total cost vs. 66.8% in 2002. Performance per market (country) was up in all markets where Accell is active (Netherlands, Germany, France, Belgium, Switzerland) except Germany. With a solid financial balance, Accell will be a serious contender to incorporate any strong brand names that may become available.
Accell wishes to underline its strategy of sound finance, harmonious growth and honest business.(OB)

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