News
Sales Drop at Mifa
SANGERHAUSEN, Germany – In the first half of 2008 Germany’s only public-held bicycle producer Mitteldeutsche Fahrradwerke AG, Mifa in short, sold 504,000 bicycles. According to CEO Peter Wicht (photo) this is compared with the first six months of the previous year a big 21.5% decrease. Therefore net sales also dropped 16.5% to € 65.9 million.
The decline in unit sales as well as turnover is prompted by the company’s new strategy of “realizing only margin-attractive orders for better profitability”. The good news is that thanks to cost cuts EBITDA increased approximately 3% up to a total of € 6.65 million.
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Jo Beckendorff
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