HEERENVEEN, the Netherlands - The uncertain pace of the reorganization to restore its profit (EBITDA), the excess inventories in the market and weak consumer demand, and a deep-discount environment made Fitch Ratings decide to downgrade Accell Group from CCC to CCC-. According to the credit rating agency, "the weak operating performance, tight liquidity and negative free cash flow results in unsustainable credit metrics."
ZEIST, the Netherlands - Retail sales between January and March 2024 in the Netherlands partly recovered from the strong decline the market experienced in 2023. Turnover increased year-on-year by 5.2% in the first three months of 2024. In the same period last year, revenue was still down by 10% mainly as a result of the sales hike in 2022 shows the benchmark of H&L Accountancy and Tax.
ZEIST, Netherlands - The blue-tyred bicycle subscription service Swapfiets has been struggling in recent years. After a loss of €14 million in 2020 and €29 million in 2021, this increased to €31 million last year, the latest financial records show. Despite these losses, investor Pon continues to support the concept which had anticipated on growth across Europe.
BRUSSELS, Belgium - VanMoof competitor Cowboy has released a free iOS app in which VanMoof users can store their digital bicycle key. "We wanted to get this shipped as quickly as possible because it will work while the VanMoof servers are live and we just don't know how long that will be," stated Cowboy Communications Director Amy Grimshaw.
HOOFDDORP, the Netherlands - The take-over of Accell Group by KKR and Teslin has entered a new stage now it will be delisted from Euronext Amsterdam as of 22 August 2022. Accell Group will be converted into a private company with limited liability (B.V.). The company also received its first credit ratings from S&P Global Ratings and Moody's.
FRANKFURT, Germany - Eurobike 2022 marked the start of the bicycle tyre recycling program of Schwalbe. As the first bicycle tyre manufacturer worldwide, Schwalbe and its cooperation with the Technical University of Cologne and Pyrum Innovations have succeeded in developing an innovative and holistic tyre recycling process.
HEERENVEEN, the Netherlands - The take-over of Accell Group by Kohlberg Kravis Roberts & Co. LP (KKR) and Teslin Alpine Acquisition has entered an all new phase now that Accell Group has provided more clarity on the acceptance of the order.
ALMERE, the Netherlands - Known for his sense for trading and lust for life, former owner of Dutch agency Buzaglo Ger Leeseman has passed away.
DUISBURG, Germany - In a farewell letter officially released on March 23, the Steelworks by Thyssenkrupp team tells its community that due to strategic considerations and with a heavy heart, it has made the decision to "end Steelworks production and cease distribution by the end of March 2021."
MILAN, Italy - Pirelli is now offering a specific tyre for the winter season ideal for urban bikes and e-bikes. The CYCL-e Winter (WT) tyre is designed to be used on difficult city asphalts, very cold surfaces (even below 0°C) or surfaces dusted with snow.
VELKE ORVIŠTĚ, Slovakia - "After more than 20 years, we are going to get rid of the high fragility of standard resin carbon composites, by introducing a new generation material," said Kellys Bicycles CEO Michal Divinec at the presentation of the company's MY 2021 range. The Slovakian company partnered with Belgium frame manufacturer Rein4ced for the introduction of their new e-bike frames for the Theos F series.
DELFT, the Netherlands - The Cycling Lab of the Delft Technical University (TU) opened its doors for the World Cycling Forum participants last month. In a series of presentations, they were informed on the background of the Cycling Lab and what this lab brings the bicycle industry.
ROTTERDAM, the Netherlands - Venture capital is investing billions of dollars into last-mile urban mobility products. As bicycles become cornerstones of urban mobility and policy, markets expand and new competitors and substitutes enter.
FRIEDRICHSHAFEN, Germany - Digitalization - transforming data into value; uniform product coding; data mining and exchange as well as a practical case study on the repercussions of the Direct-to-Consumer Shift in the US,
FRIEDRICHSHAFEN, Germany - One day before Eurobike 2018 starts, Bike Europe organizes its annual Conference at Messe Friedrichshafen
TAIPEI, Taiwan - The main theme of the Taipei Cycle Forum 2018 that takes place next week on Friday March 23 in Taichung, is 'Taiwan bike
MILAN, Italy - Two iconic Italian brands have found each other. In late April Pirelli announced its OEM partnership with Pinarello, whereby Pirelli
TAIPEI, Taiwan - The Taiwan External Trade Development Council (TAITRA) in cooperation with Bike Europe are organising the "Taipei Cycle Forum 2018".
TAIPEI, Taiwan - How can Taiwan companies effectively and efficiently cater to the changed needs of their EU, US and Asia trading partners resulting from the rapid growth of online sales? This is the key question the Taipei Cycle Forum 2018 wants to answer. The international Conference takes place Friday 23 and Saturday 24 March, 2018 in Taichung, Taiwan and is now open for registration.
ROME, Italy - The EU funded project VeloCittà was initiated to provide inspiration and build capacity in local authorities and bike sharing systems'
