Accell Group Expects 15% Profit Growth

HEERENVEEN, the Netherlands - Accell Group expects an increase of net profit of approximately 15% for 2008 in comparison to 2007. CEO René Takens (photo): “Cycling remains popular in economically adverse times, partly due to the increasing attention for health and mobility."

"Last summer’s increase in fuel prices caused a lot of consumers to think about alternative means of transportation. This led to a more frequent use of the bicycle.”

“Earlier this year, an increase of net profit of approximately 10% was expected. The sale of bicycles in the high-end part of the market and the sale of electrical bicycles in particular showed a sound development in the past months.”

“In addition, we are benefiting from an ageing population in Western Europe which is an important target group for sales of, among others, electrical bicycles. Both governments and consumers show increasing interest in sustainability and CO2 reduction. The bicycle provides a seamless match for this. The new collections we presented in September were well received by the dealers and the order intake for the 2008-2009 bicycle season is currently at a higher level than last year.” The annual results will be announced on 27 February 2009.

“The results allow us to continue to invest in innovation and design, both in respect of completely new models and in respect of parts and accessories. Brand identity and providing added value are essential, especially in times when consumers pay more attention to their disposable income. Our brand and marketing strategy will remain focused on supplying high-quality bicycles and fitness products that appeal to the consumer.”

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