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Accell Group’s Profit Up

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Accell Group booked a further rise in turnover and profit in 2009. Rene Takens (photo), CEO of Accell Group: “We had another good year in 2009, due in part to turnover growth in Germany and France. E-Bikes, sports bikes and bikes for special target groups sold

Accell Group’s Profit Up

HEERENVEEN, the Netherlands – Accell Group booked a further rise in turnover and profit in 2009. René Takens (photo), CEO of Accell Group: “We had another good year in 2009, due in part to turnover growth in Germany and France."

"E-Bikes, sports bikes and bikes for special target groups sold especially well," René Takens continues. "The market was more dynamic than in previous years. There were more shifts in the market, to which we had to respond quickly and effectively. This placed greater demands on our organisation’s ability to adjust, but also contributed to the growth of our results.”

Increase in turnover

As a result Accell Group’s turnover increased by 6% to € 572.6 million. The net profit was up 15% at € 32.7 million. The bicycles, bicycle parts & accessories sales saw a 9% increase in turnover to € 543.0 million.

Last year the demand for e-Bikes accounted for 25% of the turnover while mountain bikes and bicycles for special target groups in the middle and higher segment was also strong. To the contrary bicycles without special innovations or contemporary design, such as traditional city bikes saw lower sales than in 2008.

Number of bicycles sold

The total number of bicycles sold rose to 986,000, compared with 974,000 in 2008, and the average price of all bicycles sold increased to € 439 (2008: € 415).

The Netherlands saw a slight increase in turnover. The demand for e-Bikes and bicycles for special target groups was again sound. The sale of traditional bikes in the mid segment and bicycles for children decreased. Turnover in bicycle parts & accessories was also higher, due to the increase in maintenance to existing bicycles.

Germany trendsetter

Germany saw an increase in the sales of sports bicycles and mountain bicycles as well as e-Bikes. Germany is the trendsetter in ‘green’ thinking in Europe and the bicycle industry has profited from this. It is clear that despite economic developments consumers seem prepared to invest in quality when buying a bicycle. The sale of bicycle parts & accessories also increased further in Germany, partly as a result of the rise in sales of Accell Group’s own XLC products.

In France, Accell Group had a good year with Lapierre and turnover was up due to the increased sales of both racing bicycles and mountain bikes. France also saw an increase in the sales of bicycle parts & accessories, including XLC.

Accell Group further strengthened its position on the Scandinavian market with the acquisition of Hellberg. The integration of Tunturi and Hellberg in one organisation is virtually complete. The Finnish market was relatively badly affected by the economic downturn in 2009. Especially in the summer months, sales to consumers stagnated. Turnover from parts & accessories rose slightly.

The exports of mainly sports bikes and mountain bikes to Spain, Austria and Switzerland increased. Turnover in Belgium showed a rising line, both in bicycles and in parts & accessories.

Due to the impact of the economic developments in North America, Seattle Bike Supply (SBS) saw its bicycle turnover drop in the United States. Turnover of bicycle parts & accessories remained stable.

Outlook 2010

“In the coming year health, environmental awareness, mobility and active recreation will remain important trends that stimulate consumer demand for our products. Based on this, we expect a further increase in turnover and result in 2010, barring unforeseen circumstances,” says René Takens.

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