Accell Group in 2006: Expansion Continues
AMSTERDAM, The Netherlands If the Accell Group is able to keep up its current pace of expansion, it could well turn into the biggest bike making company in the world by 2010. In 2006 total turnover ended at 430. OK, thats still a long way off from
AMSTERDAM, The Netherlands – If the Accell Group is able to keep up its current pace of expansion, it could well turn into the biggest bike making company in the world by 2010. In 2006 total turnover ended at € 430. OK, that’s still a long way off from the € 630 million that the current world’s biggest – Giant Group – managed to score in 2006. But, with again a double digit growth in turnover last year and with a continued acquisition policy, it could happen. Net profit rose by 18% to € 18.4 million; earnings per share increased 15%, and the value of the shares upped a big 30%!
Turnover of the Accell Group increased by 16% to € 431.7 million (2005: € 372.1 million). Organic turnover growth came in at 9%. Sales of complete bicycles is still by far the biggest money maker in the Accell portfolio. 72% of the € 430 million is made with complete bikes. Turnover in bike sales upped 9% to € 311 million. Accell Group sold 917,000 bicycles in 2006, about 7% more than in 2005 (858,000), while the average price per bicycle rose by 2% to € 339 (2005: 334).
The Accell Group managed to grow it P&A business by 40% in 2006. In turnover the 2006 result was € 74.9 million compared to € 53.4 million in 2005. P&A contributed for 17% in the total turnover. Fitness showed last year the biggest growth in percentages; 41% to a total turnover of € 45.6 million. The biggest part of this growth was autonomous The segment result rose to € 2.0 million (2005: 1.4 million).
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