HEERENVEEN, the Netherlands - Accell Group CEO Tjeerd Jegen has revealed some clear figures in a business update on the financial situation at the company he has been heading since November 2023. The manufacturer continues to see profits drop and debts rise. "Especially in Germany, the market collapsed because dealers had and still have too high inventories," said Jegen in an interview with the Dutch media FD.
Enduo Mobility has come up with a robust solution for e-cargo chaindrive systems called EnduoCargo. It's designed to endure heavy loads under challenging conditions alongside providing a safe and long-lasting cycle experience for the rider. It's three key components, which come as part of the system, include the EnduoCargo industrial-grade chain, Enduo chainring and Enduo sprocket.
FERNDALE, Canada - Founders Dan Gerhard and Jake Heilbron have purchased Kona Bikes back from Kent Outdoors, along with a team of dedicated, experienced Kona employees. Kent Outdoors had been looking for a new owner for some time and handed over the company back to the former owners for an undisclosed amount.
OSAKA, Japan - Bicycle component manufacturer Shimano reports that demand for bicycles continued to be weak at the start of the year. In the first quarter of 2024, net sales decreased by double digits compared to last year. Also for the rest of the year the outlook will remain uncertain for Shimano.
DRESDEN, Germany - Encouragement can be found in German e-commerce bike, running and swimming sports retailer Bike24 Holding AG's first quarter results. Here, an expected return to growth with improved profitability as well as an impressive growth in Bike24's relatively young Benelux country markets can be seen.
REDDITCH, England - In a trading update Halfords Group announced to expect a significant drop in like-for-like revenue growth in its retail business. The company reports a further material weakening in three of its four core markets, including cycling.
OBERWANGEN, Switzerland - Despite overall stagnant or declining markets in Europe, myStromer AG, parent company of premium e-bike brands Stromer and Desiknio, bucked the general trend and continue to expand its market shares in the Netherlands and Belgium. In the challenging e-bike market in the US, the company achieved double-digit (consolidated) growth.
HEERENVEEN, the Netherlands - The appointment of the new Chief Financial Officer (CFO) Gijsbert van Zoeten is Accell Group's next step in an attempt to counter the financial challenges. The reorganization of the board of management was only communicated internally.
LONDON, England - Newcomer Skarper has developed a retrofit solution to turn any bicycle into an e-bike. What started with the backing of six-time Olympic champion Sir Chris Hoy, the start-up has also teamed up with the Red Bull Formula 1 team's Advanced Technologies division to prepare the device for market launch later this year.
STUTTGART, Germany - BH Bikes from Spain will be the first to be supplied with the new SEG Automotive e-bike systems. SEG Automotive is one of those big players from the automotive industry that not many people are familiar with. They supply virtually all major car manufacturers and power over 300 million vehicles on the road today with their e-machines.
RAVENSBURG, Germany - ZF Micro Mobility has launched Sachs RS motor software updates for the e-MTB, Tour and Cargo applications. According to ZF Micro Mobility this development is a major improvement of the user experience.
HUTTWIL, Switzerland - The current difficult market situation in the entire bicycle industry, including a post-pandemic market correction, is also affecting the ZEG owned Swiss e-bike manufacturer Flyer AG. To secure the future of the company and maintain production at its Swiss location, an extensive restructuring program has been drawn up.
COPENHAGEN, Denmark - The ambitions were sky high when Mate Bike was founded in 2016. Investors were easy to entice based on the projected growth of the e-bike market. However, expansion came too quickly, and Mate Bike is now fighting insolvency.
OSAKA, Japan - Shimano has announced two new mechanical groupset introductions. The Shimano 105 12-speed Mechanical groupset completes the 12-speed road family. Meanwhile for the gravel segment, Shimano's new GRX Mechanical 12-Speed provides more gearing options for gravel cyclists.
FRANKFURT, Germany - After winning over industry insider Alex Thusbass as CEO in May 2023, the young Germany-based e-bike maker Hepha Bikes celebrated its exhibition premiere at this year's Eurobike.
OSAKA, Japan - Shimano regards 2023 as an "in-between year" as Marc van Rooij, President Shimano Europe Group already explained at Eurobike. This is reflected in the financial results for the first half of 2023. The Japanese manufacturer reports a net sales decrease in bicycle components of 17.7% to JPY 204,986 million (€1.3 billion) year-on-year, and operating income decreased 39.5% to 42,093 million yen (€270 million).
HAIBACH, Germany - German battery specialist Akku Vision has added a cargo bike battery solution to product range. The Fusione, which was launched at Eurobike, is "the result of deep market studies, analysis and feedback from customers which has been honed to make the product ready for commercial use," the company states.
DENKENDORF, Germany - Gearbox specialist Pinion has developed a new product bringing together the motor and gearshift in one unit. "The Pinion MGU is the e-bike technology of the next generation," the company states prior to the launch at Eurobike. MGUs are available in the Pinion E-Line, as E1.12 and E1.9 versions and as E-Speed versions E1.12S and E1.9S.
DRESDEN, Germany - In its latest financial statement, online retailer Bike24 Holding AG speaks of a "persistently uncertain economic environment" which results in a year-on-year decline of its net sales by 10.5% to € 55.27 million in Q1-2023. In addition, increasing financing expenses exceeded € 10 million in the first three months of this year.
OLDENBURG, Germany - Mass merchant supplier Prophete GmbH & Co. KG and IBD supplier Cycle Union filed for insolvency yesterday. Already in mid-2019 Prophete ran into difficult waters and owner families Lönne and Prophete brought in a turnaround consultancy. It now turns out that this was not enough.
