Cycleurope Increases Sales and Profit in 2015
VARBERG, Sweden – “Both in sales and earnings last year was better than 2014 for Cycleurope. We are very content with the turnover of 500 million euro, though the profit could have been better,” says Mårten Nydahl, CEO of Cycleurope Sverige AB in a report in the Swedish newspaper ‘Hallands Nyheter’.
Compared with 2014, Cycleurope which is part of Grimaldi Industri AB, saw its profit increase by 27.4% to 23.7 million euro.
The Hallands Nyheter also reports that Cycleurope moved parts of its e-bike production from France to the Swedish facility in order to improve the company’s flexibility. “E-bikes require more expertise and service on all levels, both by the manufacturers and retailers. This know-how is now concentrated on one location in Varberg,” says Mårten Nydahl.
Last year Cycleurope sold 30,000 e-bikes on the Swedish market. Based on market developments in other European countries Nydahl expects that “Cycleurope’s total sales of e-bikes will increase to 80,000 units in Sweden within a few years.”