JAKOBSTAD, Finland - European component manufacturer, Herrmans Bike Components continues to expand its sustainable product portfolio. The latest addition sees three of its existing chainguard models transition to using 100% recycled ABS plastic.
WELS, Austria - Pierer Mobility AG, the owner of bicycle and e-bike brands Husqvarna, GasGas and Felt has announced that it will apply for debtor-in-possession restructuring proceedings for its motorcycle subsidiary KTM AG on Friday. KTM AG's financing requirements are "currently in the high three-digit million euro range."
TAICHUNG, Taiwan - Even though the first three sales quarter revenue of NT$1.91 billion (€55.66 million) was 32.5% lower than in the same period of the previous year, Taiwan's bicycle manufacturer Ideal Bike Corporation has been able to reduce its loss by 34.4%. The crisis at Taiwan's third largest bicycle producer is still rooted in the 2023 insolvencies of two of its major customers Advanced Sports GmbH and VanMoof.
HUTTWIL, Switzerland - The closure of production at Flyer in Huttwil is now a sad certainty. Following the conclusion of the consultation process, CEO Andy Kessler announced yesterday that at least 150 employees will soon be made redundant. The media only learned of this unfortunate pre-Christmas news via dealers and employees; owner ZEG has not disclosed any information.
SUZHOU, China - The oversupply in the industry, even for the category e-bikes, is still resulting in a slowdown in demand for component manufacturers. The excess inventory situation was already reflected at Taichung Bike Week last September but also came forward in Bafang's nine months earnings result which did not improve compared with 2023.
CHANGHUA, Taiwan - In the first three sales quarters of the current 2024 financial year Taiwan's second-largest bicycle manufacturer Merida Industry Co. Ltd. generated total revenue of TWD 23.8 billion (€695 million). Compared to the first nine months of the previous year, this is a good increase of 5.8% in a persistently difficult and challenging environment.
SCHAMBERG, Germany - High-precision transmission parts and components manufacturer hGears AG continues to suffer not only from the automotive crisis, but also from the e-bike business segment's sluggish destocking. In the first nine months of the current 2024 financial year, it had to digest its biggest sales drop.
DRESDEN, Germany - Online retailer Bike24 reports a year-on-year revenue increase of 2.9% to €62.89 million from July to September 2024. In this quarter the category fully assembled bicycles saw a 6% revenue growth to an all-time high of €13.4 million. According to Bike24, "this is the result of our choice for a large brand portfolio and attractive price points."
WELS, Austria - The macro-economic conditions made two-wheeler giant Pierer Mobility AG already revise its forecast for the current financial year in October. Moreover they communicated a far-reaching restructuring program of its bicycle and e-bike sector. It now turns out that the liquidity requirement for its motorized two-wheeler business has a much bigger impact on the financial stability of the whole company.
TAICHUNG, Taiwan - Mid 2024 Giant Group's sales trend seemed to have found a way up again, but this turned out to be only a short-lived revival. In July, Giant still expected operations to improve gradually, but the financial report published yesterday of the Q1-3 results show that a full recovery takes longer than expected.
