Turnover increased 5.3percent to €1.09 billion. At the end of 2002, 2137 businesses with approximately 3000 shops were affiliated with Euretco.
Euretco's net result increased from €6 m in 2001 to €13.3m for the financial year 2002. A large proportion of the increase was due to the sale of premises in Houten and Breda
Peter Sturms, the MD of Euretco NV said:
"We enjoy accepting the fantastic challenge of running a retail trade business. In the near future, the challenge will only become greater. From fashion to lifestyle and living and from sports to bicycles, we have seen the struggle to win the customers’ euro intensify.
"The provision of the right incentives for joint ventures between independent entrepreneurs, finding and encouraging young talent and the professionalism of our staff makes us efficient and competitive. In addition to strengthening our position in the various market segments in which we are active, we remain focused on expansion, especially in franchising and the management of dynamic brands."
At the end of March, Euretco Tweewielers completed the 100 percent takeover of the German retail organisation, Veloring of Mönchengladbach. This is active in the Netherlands, Belgium and Luxembourg as well as Germany. As a result of the takeover, Euretco Tweewielers now has 720 affiliated independents in Europe.
Some IBDs in the UK are said, by Euretco, to be close to signing on the dotted line and becoming the first 'Profile the cycle specialist' stores across the Channel.