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Mifa: Huge Growth in Bike Sales

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SANGERHAUSEN, Germany (May 25) – During the first three months of 2005, the Mitteldeutsche Fahrradwerke AG – Mifa in short – saw it bike sales increase by 28% compared to the same period in 2004. With the announcement of its first quarter 2005 results, that comes one year after its IPO, the German bike producer […]

SANGERHAUSEN, Germany (May 25) – During the first three months of 2005, the Mitteldeutsche Fahrradwerke AG – Mifa in short – saw it bike sales increase by 28% compared to the same period in 2004. With the announcement of its first quarter 2005 results, that comes one year after its IPO, the German bike producer said it sold a total of 265,245 bicycles. Total sales value sales was up about 22% to € 34.66 million. However, EBIT dropped 12.7% to € 3.38 million. Commenting on the first quarter results, Mifa Chairman Peter Wicht said: “Our results underline that we were able to continue our strong growth in sales in units as well as value.” (JB)

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