Derby Cycle Ends 2011 with Double Digit Growth Figures

CLOPPENBURG, Germany - Derby Cycle AG grew its revenue by around 25,8% to 36.6 million euro in the fourth quarter of 2010/2011 compared to 29.1 million euro in the same period last year. This results in a revenue growth of 36% for 2010/11 to 235.5 million euro, in comparison with 173.2 euro million in the previous year.

Mathias Seidler, CEO of Derby Cycle AG, expresses his content with the good results: “We have achieved a further record year in our company’s history through successfully and stringently implementing our three-pillar strategy of internationalization, focus on specialist retailers and our concentration on the e-bike megatrend.”

“We reached important milestones in the 2010/11 financial year. Utilizing some of the proceeds from our successful IPO in February 2011, we took over direct sales in Great Britain and Australia. As the result of our joint venture with the electro-motor specialist Daum Forschung und Entwicklung, we also regard ourselves as very well positioned to further expand our market and technology leadership in the future. The electro-bike is spurring the entire bicycle sector – and we are right at the front in this respect,” continued Seidler.

Uwe Bögershausen, the company’s CFO, added: “Furthermore, as the result of the takeover by Pon Holdings, we have found a strong partner to actively support our future corporate development. All in all, we are very pleased with the outstanding results, and we are confident that we will continue our success story over the coming years. This is also reflected in the positive feedback that we have received at the bike trade fairs in autumn 2011. Here the trends for the 2012 biking season were established, and a substantial order volume has already been issued. Our preorder volume at these events increased significantly on a year-on-year basis.”