Less Turnover for MIFA Than Expected
SANGERHAUSEN, Germany – MIFA (Mitteldeutsche Fahrradwerke AG) no longer expects to achieve a revenue between 120 and 130 million euro as originally planned. “Our revenue target of at least 120 million euro currently looks too ambitious,” said MIFA CEO Peter Wicht.
The reason for this decline was “decreasing sales at specific customers” the company said without giving details. In 2012 the company generated a turnover 111.3 million euro.
“For 2013 we now expect a turnover of about 115 million euro. At the same time, we are retaining our medium-term forecast of generating revenue of 200 million euro in the next three to five years, and an EBIT margin between 7 and 9 %,” said Wicht.
“Undoubtedly, 2013 was still a year of transition for us during which we repositioned our specialist dealer sales for GRACE and Steppenwolf. We have recently bolstered our sales team to include sector experts Jörn Gersbeck and Thomas Liese. I expect our business with our GRACE and Steppenwolf Group brands to be strong growth-drivers in 2014.”