Higher turnover and profit has been recorded in the first quarter of 2016 for Accell Group, compared with the same period of 2015.
Citing favourable weather conditions, the group which also owns Koga, Haibike, Lapierre, Ghost and Winora, among others, noted a rise in demand for e-bikes and high end sports bikes.
René Takens, chairman of the Accell Group Board of Directors, said: “The year 2016 started well for Accell group. Turnover has shown a positive development.
“Sales of electric bikes were up in all countries, especially in Germany. Sales of electric bikes also increased by more than 10% in countries where the market in this category is more modest. On top of this, we are seeing a clear rise in the demand for our sports bikes. This resulted in an increase in the average price of the bikes we sold compared to the same period in 2015.
“Turnover in parts & accessories came in at the same level as last year. The higher turnover we recorded helped us to book a healthy increase in profit for the first three months of 2016. We therefore maintain our forecast for 2016 of a further increase in turnover and profit, barring unforeseen circumstances.”
Accell Group is selling its US P&A business to Hawley-Lambert so it can focus on its core business through own bicycle brands and related merchandise. Hawley-Lambert will be exclusively bringing Accell's P&A brand XLC to the US and Canada too. The turnover from the P&A business will therefore be around €15 million lower on an annual basis, the group said, having a positive impact on operational result and its working capital.