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Derby Cycle AG Raises Full-year Revenue Forecast

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Based on preliminary figures, Derby Cycle AG raised its Q2 revenue by 45.6% from 52.6 million euro in 2009/2010 to 76.6 million euro in the fiscal year 2010/2011. Derby Cycles fiscal year runs from 1 October to 30 September. The total revenues

Derby Cycle AG Raises Full-year Revenue Forecast

CLOPPENBURG, Germany – Based on preliminary figures, Derby Cycle AG raised its Q2 revenue by 45.6% from 52.6 million euro in 2009/2010 to 76.6 million euro in the fiscal year 2010/2011. Derby Cycle’s fiscal year runs from 1 October to 30 September.

The total revenues in the first half of the fiscal year 2010/2011 grew by 40.2% from 81.5 million euro last year to 114.4 million euro this year.

“On the basis of the successful second quarter and the orders already on hand from specialist cycle retailers and wholesalers, we are raising our revenue forecast for the financial year that ends on September 30, 2011 by at least 10% to 220 million euro”, said Mathias Seidler, CEO of Derby Cycle. The original revenue forecast stood at 200 million euro. Last year Derby Cycle’s revenue accounted for 173.2 million euro.

“These figures represent acceleration of the average growth dynamics that we have reported over the recent years”, said Mathias Seidler. “Contributing factors to this outcome particularly include the growing popularity of e-bikes and sports cycles internationally, a strong consumer climate, and the early onset of summer temperatures in 2011.”
 

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