Accell Group has recorded growth in turnover in virtually all countries and expects an organic turnover growth and net profit increase for the second half of 2015, compared like-for-like with 2014.
Accell Group's German and French brands in particular have performed well in Q3, and e-bikes were singled out as seeing "strong growth in sales" particularly in e-MTBs, namely through Haibike, Lapierre and Ghost.
René Takens, CEO of Accell Group, said: “The positive trends seen in the first half continued into the third quarter and the month of October.
"Our turnover and profits were up, due in part to the growing proportion of electric bikes and higher-end sports bikes in our sales. The market for electric bikes (e-bikes) is dynamic in many European countries and we are seeing our sales increase in those markets. In the Alpine countries in particular, we are seeing strong growth in the sales of performance E-mountain bikes. Accell Group is trendsetter and market leader in this special category of electric bikes, which are sold under the brands HaiBike, Lapierre and Ghost. Based on these developments, we are expecting a growth in turnover and profit for the full year 2015.”
As usual, there's plenty of detail to pick through in the financial statement. Highlights include:
- Turnover in electric bikes increased in virtually all European countries. The market for electric bikes in the United States is growing "but remains modest".
- The increase in turnover in bicycle parts and accessories was largely driven by Germany and the Netherlands.
- Like Dorel, Accell has singled out currency and the US dollar exchange rate as having a particularly large impact on the results, partly due to an increase in the cost of components purchased in dollars.
- The outlook for the medium to long term is positive, Accell said, with a "structurally healthy demand for bicycles for mobility, health and active sports purposes".