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.
HEERENVEEN, the Netherlands - Accell Group can proceed with the restructuring of its financial position as it secured sufficient support from its key stakeholders. "The implementation of the recapitalization will create a sustainable financial and operational platform to execute our strategy," reported the company today. "Approximately 80% of our senior term and revolving facility lenders have committed their support for the recapitalisation, while other key creditors unanimously back the plan."
MEINERZHAGEN, Germany - It was announced as a revolution in bicycle headlights by Busch+Müller: the Briq-XL reacts to the lean of the handlebar in a progressive sequence to provide a magnificent illumination of the bend while riding the curve.
ŠIAULIAI, Lithuania - Overcapacity and a slowdown in demand in Europe were the main reasons for a decline in turnover in 2023 reports bicycle manufacturer UAB Baltik Vairas. In 2023 the company generated a turnover of € 170.96 million, down 7.5% from € 184.9 million in 2022.
At Eurobike 2024, the ZF Group unveiled its new 48-Volt drive system for e-bikes for the first time. The 'ZF Bike Eco System' includes all drive components such as the e-motor, batteries, control units, app, and cloud connectivity. The core component is the ZF CentriX drive unit with a compact, 90 Nm mid-motor.
MALLABIA, Spain - The turbulent 2023 market conditions with instability, excess supply and widespread discounting among competitors that deteriorated margins and, in some cases, questioned the sustainability of business, writes Orbea in its annual report. For Orbea the market situation resulted in a 6.4% decrease in turnover.
EDINBURGH, Scotland - A 9-digit private growth-equity fund which has already supported Rebike, Bike Club and Grover in the micromobility sector, acknowledges that a new generation of businesses are helping to pioneer the sector's circular future. However, "circular innovations deserve a specialist investor," explains Andrew Shannon, founding partner of Circularity Capital.
HEERENVEEN, the Netherlands - The financial situation for KKR owned Accell Group is becoming increasingly challenging. A group of lenders decided to select advisers to assess options for the bicycle manufacturer amid struggles spurred by waning demand and operational hurdles. Accell is also facing an expensive recall of the Babboe cargobike and at the same time the union might shut down one of the Heerenveen factories later today.
SEOUL, South Korea - Scott Sports owner Youngone Corporation has granted its subsidiary a temporary financial injection of SFR 150 million (€160.6 million). The high inventory levels throughout the bicycle sector is tying up so much capital that even profitable companies like Scott Sports are in urgent need of capital to continue their daily operations.
WELS, Austria - In the first six months of 2023, Pierer Mobility AG achieved a new record revenue of €1.39 million, up 20.2%, compared to 2022. However, "the bicycle market as a whole is characterised by major changes. The consolidation that has already begun and is expected, will have profound effects on the entire bicycle industry," the motorcycle and e-bike specialist warns.
SQlab has developed a digital sales tool called Profiler app, which guides shop staff through the process of determining ergonomic products, tailored to the customer's needs. The brand has always focused on strengthening local shops, by providing their measurement experience on-site and training their retailers to be experts in bike ergonomics. But limiting factors like time and staff shortages forced them to support local retailers in different ways.
TALLINN, Estonia - As startup producing e-cargo bikes for last mile deliveries, Vok Bike closed a €3,8 million seed round last week, including Estonia's SmartCap, Jaan Tallinn's Metaplanet, Specialist VC and Sunly.
TAIPEI, Taiwan - The cockpit of e-bikes is currently seeing a rapid development of more integration and more customization. Manufacturer King Meter offers a wide range of shifters and displays, including the latest with integrated display.
OSAKA, Japan - Shimano has introduced Cues, a new approach to its mid-tier component line-up. Redesigned from the ground up, Shimano has focused on high-compatibility and consolidated its 9, 10, and 11-speed drivetrains like Deore, Tiagra and Alivio into one unified ecosystem of components.
FRANKFURT, Germany - The Eurobike Award will return to this years edition of the international bicycle industry trade show. For this indicator of trends in the industry, Eurobike has partnered with the German Design Council. Eurobike in Frankfurt will be held from June 21 to June 25, 2023.
Litemove designs LED lights for the global bicycle industry. Founded in 2019, the company is based in Taiwan. "We are a young energetic company complimented by a team with several decades of international experience in optics, electronics and mechanical engineering harnessed from the automotive industry. These key attributes are brought together in our bicycle product design team for the creation of world class products."
OSAKA, Japan - The global presence makes it possible for Shimano to compensate for fluctuations in various market. Thanks to big differences between European, North American and Asian markets Shimano can still report a net sales increase of for the first nine months of 2022.
A handlebar to which you can attach integrated accessories. That is the new Contec G-link system. Hermann Hartje's exclusive P&A brand, Contec, thus responds to the trend in which bicycles have increasingly integrated applications. Dealers can order the modular system from August, and it will be available to consumers in the spring of 2023.
FRANKFURT, Germany - Apart from a few niche suppliers who could be counted on one hand, for years there was no one on the road with the TQ drivetrain unit. Now the Germans are back with a new lightweight, quiet, small motor with which they say they have a major bike supplier onboard with Trek Bicycle.
LONDON, UK - To facilitate its European expansion, insurance company Laka has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and by Ponooc, who has close ties to Pon, and ABN AMRO, to €12.7 million.
