Accell Group expects higher turnover across all its key markets in H2 2014 compared with H2 2013, as well as net profit to increase in the second half of the year.
Accell Group, owner of Raleigh, Haibike, Winora, Lapierre and XLC among others, is currently in takeover talks with Danish P&A distributor Cycle Service Nordic, which has a profitable annual turnover of €13m and 40 staff. The move follow’s Accell’s acquisition of Comet in Spain.
The Raleigh owner also expects H2 2014 to be stronger than H1 2014. Added value is expected to be slighter higher than last year thanks to a reduction in older model year bicycles being sold at a discount.
The firm added: "The outlook for the medium to long term remains positive. Demand for bicycles for mobility, health and active sports purposes is structurally strong. This will continue to boost sales of electric bikes and sports bikes in the higher end of the market in particular."
CEO Rene Takens added: "The positive trend of the first half year has continued into the second half year. Following a good first half, the weather conditions have also been favourable in the second half in most of the countries where Accell markets its products. The margin is developing positively as in particular more electric bikes and high-end sports bikes are being sold.
"The acquisition of Comet in Spain and the expected takeover of Cycle Service Nordic in Denmark lead to a further strengthening of our position in the field of bicycle parts and accessories in Europe. Based on the above, we expect sound growth in turnover and profit for the full year 2014."