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Derby Cycle Raises Profit Forecast

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Based on very positive business developments, Derby Cycle AG, stock listed since last February, raises its expected EBIT (earnings before interest and tax) margin for fiscal year 2010/11 again. Instead of the previously forecast level of 7 to 8 percent the full‐year EBIT margin will correspondingly range from

Derby Cycle Raises Profit Forecast

CLOPPENBRUG, Germany – Based on very positive business developments, Derby Cycle AG, stock listed since last February, raises its expected EBIT (earnings before interest and tax) margin for fiscal year 2010/11 again. Instead of the previously forecast level of 7 to 8 percent the full‐year EBIT margin will correspondingly range from 8 to 9 percent. At the same time the company also forecasts its revenue to grow to 240 million euro, instead of 220 million as specified last April 13.

The final results for the first six months of fiscal year 2010/11 will be published on May 23, 2011. The fiscal year will end on September 30.

In the fiscal year 2009/2010, Derby Cycle’s total revenues stood at 173 million euro of which 72.6% was generated in Germany. The EBIT amounted approximately 12 million euro. Derby Cycle sold a total of around 430,000 bicycles, among them 44,000 e-bikes or 20% of the market. As a result, Derby Cycle claims to be market leader in Germany in this rapidly growing product segment.
 

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