Tag Archives: finance

Shimano’s bike component sales decrease 14.6% in first half of 2020

Shimano has released its summary of financial results from 1st January to 30th June 2020. Net sales from the bike components segment decreased by 14.6% from the same period of the previous year to 122,613 million yen, and operating income decreased 19.7% to 22,963 million yen. The company said that …

Read More »

Accell Group sees ‘steep’ post-lockdown sales rebound

The Accell Group has recorded a year-on-year sales growth of 53.1% in June. This brings H1 net sales to €676.9 million, up 4.0% vs last year, despite the impact of lockdown in March and April. H1 EBIT came in at €45.1 million (excluding one-offs: €47.5 million), trailing H1 2019 levels …

Read More »

Cowboy raises €23 million in Series B funding

Cowboy has completed its Series B funding round, totalling €23 million. Leading the round is Exor Seeds, the early-stage investment arm of Exor, controlling shareholder of Ferrari and FCA, HCVC, and Isomer Capital, joined by Future Positive Capital and Index Ventures. Adrien Roose, co-founder and CEO, said: “We’re thrilled about …

Read More »

Halfords reports surge in cycling sales

Halfords has reported strong growth in cycling sales during the COVID-19 lockdown. Group sales for the 13 weeks to 3rd July were down 2.8% compared to last year and down 6.5% on a LFL basis, “significantly better” than anticipated in late-March, Halfords said, and an improvement on the 23% LFL …

Read More »

Exports of UK cycling goods rise by 15%

Exports of UK bikes, parts and accessories grew by 15% in the year to March 2020. The latest figures show that bike exports have a total value of £173.2 million, with Europe, Australia and the US leading the way in demand. Stephen Loftus, chief commercial officer for Brompton Bicycle, said: …

Read More »

Accell Group sees “strong recovery” of bike sales in May

The Accell Group has seen a “strong recovery” in its bike sales in May, following weak March and April sales. Due to the various lockdowns and subsequent shop closures in several countries, group revenue in March and April came in approximately 27% lower compared to last year. Towards the end …

Read More »

Shimano reports 15% decrease in bike sales in Q1

Shimano has released its latest summary of financial results, running from 1st January 2020 to 31st March 2020. It revealed that its net sales from the bicycle components segment decreased 15.4% from the same period of the previous year to 58,868 million yen, and operating income decreased 26.1% to 10,298 …

Read More »

Thule reports “solid quarter” despite negative effects of COVID-19

Thule has reported a “solid quarter” for Q1 2020 despite the negative effects of COVID-19 as of mid-March, the company has said in its latest financial report. The group said it had started the year “very strong” with increased sales, improved profitability and more efficient use of capital. However, when …

Read More »

Dorel Sports reports revenue growth in 2019

Dorel Sports’ revenue increased to $909 million for 2019, up 2.9% from $883 million last year. The results also show that fourth-quarter revenue increased to $233.2 million, up 0.2% from $232.7 million last year. Pacific Cycle Group (PCG) and Caloi posted growth in the quarter while the Cycling Sports Group’s …

Read More »