News Article

Despite Financial Crisis; Bike Business as Usual

Home

MAARSSEN, The Netherlands – Despite the fact that stock markets all over the world have been hit hard and almost all financial institutions are in desperate need of government aid; it is business as usual within the European bike sector. At least that is what is said by the Chief Financial Officer (CFO) of the biggest

Despite Financial Crisis; Bike Business as Usual

MAARSSEN, The Netherlands – Despite the fact that stock markets all over the world have been hit hard and almost all financial institutions are in desperate need of government aid; it is business as usual within the European bike sector. At least that is what is said by the Chief Financial Officer (CFO) of the biggest bike maker in Europe.

Hielke Sybesma, Accell Group’s CFO, claims that in the normal day-to-day business there are no repercussions what so ever due to the financial crisis. “There are no changes in the relations with the banks we are dealing with. Everything is running as usual within Accell Group and our affiliated companies.”

Something big going on

“In my view there’s a big difference between the panic situation reported on by the media and daily life. Consumers will not stop buying stuff and will not stop contemplating on issues like health. Such trends that contribute to the bike business are not suddenly of thing of the past. Of course there’s something big going on the financial world but not in the bike business.”

However, like at all other public companies the financial crisis is affecting the values of the bicycle companies that are listed on the various stock markets in the world. Here’s the current status:

Stock listings major funds

Company name
Rate
20-10-2008
Rate
1-9-2009
Difference
Accell Group
EUR 18.57
EUR 24.73
– 24.9%
Falcon Cycle Parts
TWD 19.80
TWD 9.44
+ 109.7%
Giant Mfg Cy
TWD 63.90
TWD 90.30
– 29.2%
Ideal Bike Corp
TWD 8.97
TWD 13.10
– 31.5%
Merida
TWD 39.30
TWD 68.90
– 42.5%
Mifa
EUR 1.58
EUR 2.00
– 21.0%
Shimano Inc
YEN 3,280
YEN 4,440
– 26.1%
Sun Race
TWD 5.83
TWD 6.66
– 12.5%

Source: Bike Europe

Comment on this article