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Pon Bike Group Scores Double-Digit Revenue Growth; Sells Record Number of E-Bikes

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ALMERE, the Netherlands – Pon Bike Group saw its 2018 revenue grow by 14 percent and sold a total of 720,000 bikes. Electric bicycles continued to be the main product category of the 2nd biggest bike maker of Europe, after Accell Group. Pon Bike Group consists of Gazelle, Derby, Cervélo, Santa Cruz and BBB Cycling.

Pon Bike Group Scores Double-Digit Revenue Growth; Sells Record Number of E-Bikes
Pon Bike Group sold about 360,000 e-bikes in 2018. – Photo Pon Bike

Pon Bike Group’s total revenue stood at 786 million euro over 2018. According to Janus Smalbraak, CEO of Pon Holdings (owner of Pon Bike Group), some 50 percent of the 720,000 bicycles sold in 2018 were e-bikes.

Pon Bike Group accounted for about 10 percent of the turnover of Pon Holdings that recorded for 2018 a total revenue of 7.5 billion euro. The family owned company is importer of Volkswagen, Skoda, Seat, Audi, Porsche, Bentley, Lamborghini and Bugatti in (among some other countries) the Netherlands.

Pon’s main business

Importing and selling cars is Pon’s main business as the company is since 1930 importer if Volkswagen. Pon Holdings car business generated a total revenue of 4.7 billion euro; a plus of 16 percent compared to 2017. According to CEO Smalbraak, in particular last year’s takeover of the IndiGo Auto Group in the United States contributed to the growth of the company’s automotive division.

Stake in Accell

Last November Pon Holdings acquired a 20 percent stake in listed Accell Group NV. Financial analysts considered this move by the multi-billion euro Dutch family business as just a first step. They are convinced that ultimately Pon wants to take over the Accell Group in its entirety in order to establish the world’s biggest (electric) bike company.

Creating cycling superpower

Creating that cycling superpower was already what Pon Holdings aimed for in April 2017 when it offered to pay about 850 million euro for all Accell Group’s shares. In the end this bid was refused by Accell’s Executive and Supervisory Boards. That Pon is now again knocking on Accell’s doors is seen by financial analysts as a brilliant move.

Since June 2018 Pon Bike Group is headed by Huub Lamers and Joe Graney. Former Gazelle CEO Lamers is responsible for all Pon Bike Group activities in Europe, Middle East as well as Asia Pacific. Santa Cruz CEO Joe Graney is responsible for the company’s activities in North America.

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