Accell Group Books 41% Increase in Net Profit

HEERENVEEN, Netherlands (16 February) – Accell Group NV booked a net profit of 4.2 mn Euro (US$3.8 mn) in 2000. The increase took place in ordinary operations and was a rise of 41% when compared to 1999. Turnover rose by 36% to 204 mn Euro (US$186 mn) from 150 mn Euro (US$136.7) in 1999. Dutch bicycle maker Sparta, which was taken over in 1999, was fully consolidated for the first time in 2000. Organic growth accounted for 21% of turnover growth, with 10% coming from increased prices and the other 11% from increased sales. Accell Group NV is the third largest bicycle maker in Europe after Derby Cycle Corp. and Cycleurope. Accell produces bicycles in The Netherlands, Germany and France under the brand names Batavus, Hercules, Koga-Miyata, Sparta, Be-One, Mercier, Lapierre, and Lookie/Cool. Sales of bicycles totaled at about 750,000 units in 2000 compared to about 700,000 units in 1999. According to statements from Accell CEO René Takens during the presentation of the annual report, “Accell Group is one of the most profitable international players on the European bicycle market. The well-filled order portfolio also indicates that we will again be able to further strengthen our leading position in 2001.” (JO)