Accell Group Reports Rising Bike Sales

HEERENVEEN, the Netherlands – “The bicycle remains a popular means of transport, even in these economically challenging times, and consumers are willing to spend money on it”, reports René Takens, CEO of Accell Group. “Our turnover and profit in the first months of 2009 have increased, compared with the same period of 2008. After a long winter, mid-March saw a good start in bicycle sales.”

The demand for electric and sports bicycles in the higher segment remains strong. Bicycles for special target groups with a particular (extra) functionality or a special design are also popular. We continue to expect a further increase of turnover and profit in 2009.”

In addition to increased bicycle sales, Accell Group also noted a rise in the turnover in bicycle parts and accessories. “When the purchase of a new bicycle is postponed, more parts and accessories are bought to extend comfortable use of the existing bicycle”, said Takens.

Fitness Further Down

The reversion of sales of fitness equipment has been going on in the first months of this year, compared to the same period in 2008. As in the last months of 2008, sales of fitness equipment were affected by worldwide economic conditions. The effect of the drop in turnover in fitness equipment on Accell Group as a whole is limited, as the fitness activities represent only 7% of Accell Group’s total turnover.

The growth in overall turnover and profit was both organic and due to the effects of consolidation of acquisitions made in 2008. The first months of 2009 show that the trends from which Accell Group benefits continue undiminished in its markets. Increasing awareness of recreation, mobility, health, the environment and the ageing population stimulate bicycle use.