Accell Sees Sound Growth in Sales, Margins & Profit
HEERENVEEN, the Netherlands – In a today published trading update Accell Group reports on positively developing margins, on higher sales of e-bikes and sports bikes as well as an expected increase in net profit. Next to that Accell is once again to take-over a P&A distributor.
Accell Group is combining its positively developing results with lower financing costs and lower restructuring costs. This brings a higher operating result and a significantly increase in net profit for the full year 2014.
On the expectations for the 2014 results René Takens, CEO of Accell Group says in the company’s trading update, “The positive trend of the first half year has continued into the second half year. Following a good first half, the weather conditions have also been favourable in the second half in most of the countries where Accell markets its products.
“The margin is developing positively as in particular more electric bikes and high-end sports bikes are being sold. The acquisition of Comet in Spain and the expected takeover of Cycle Service Nordic in Denmark lead to a further strengthening of our position in the field of bicycle parts and accessories in Europe. Based on the above we expect sound growth in turnover and profit for the full year 2014.”
Accell further reports that the outlook for the medium to long term remains positive. “Demand for bicycles for mobility, health and active sports purposes is structurally strong. This will continue to boost sales of electric bikes and sports bikes in the higher end of the market in particular.”
Next to Holland and Germany sales of electric bikes is now moving in the Nordic countries as well as Italy, commented René Takens to Bike Europe. He added that this trend is also making a lean start in France, the UK and the US.