SCHRAMBERG, Germany - hGears AG faced a challenging 2024 fiscal year as declining demand and high inventory levels weighed on revenue and earnings. Despite the negative effects of 2024's economic slowdown and excess inventory struggles, hGears AG remains confident that its new cost and structural measures are having a positive effect.
AMERSFOORT, Netherlands - Dutch battery repair specialist Nowos has raised €6 million in new equity funding to accelerate its pan-European growth and push lithium-ion battery repair as a main component to developing a circular economy. The round's lead investor is Paris- and Singapore-based venture capital fund Shift4Good, with participation from Fair Capital Impact Fund and Goeie Grutten Impact Fund. An additional €3 million in debt financing is still being secured.
REDDITCH, England - Contrary to the general trend in the British retail market, Halfords UK reports an increase in bicycle sales in its 28 March trading update. The company's focus on its range of premium mechanical bikes that have a price tag of more than £1,000, as announced last year, turned out for the best.
AMSTERDAM, the Netherlands - Pon Holdings has made significant strides in 2024 towards enhancing its focus on mobility through strategic investments and divestments. Despite market uncertainties, Pon Holdings recorded stable revenues of €9.9 billion, matching the prior year's results normalised for divestments.
PLOCHINGEN, Germany - Demand for bicycle and team sports products within the extensive product portfolio of Decathlon has been very strong in Germany last year, reports the sporting goods retail giant. Decathlon expanded their market share in the otherwise weak German bicycle market in 2024 and reported a sales increase of 8% in the category bicycles. However, exact sales figures have not been disclosed.
MASER, Italy - The brand relaunch of Sidi after the takeover by Italmobiliare Group in 2022 has turned out to be very profitable. The Italian cycling and motorcycle shoes manufacturer reports a 33.1% year-on-year growth in turnover to €31.7 million.
