Derby Cycle AG achieves strong revenue growth in 2010/11 financial year
- 26% Q4 2010/11 revenue growth to EUR 36.6 million
- 2010/11 revenue +36% to EUR 235.5 million
Derby Cycle AG (ISIN DE000A1H6HN1, WKN A1H6HN), Germany's largest bicycle manufacturer in terms of revenue, grew its revenue by around 25,8% to EUR 36.6 million in the fourth quarter of 2010/11 on the basis of preliminary figures, compared with EUR 29.1 million in the comparable period of the previous year. This results in 36% revenue growth for the full 2010/11 financial year to EUR 235.5 million, in comparison with EUR 173.2 million in the previous year.
Mathias Seidler, CEO of Derby Cycle AG, expresses his content with the good results: "We have achieved a further record year in our company's history through successfully and stringently implementing our three-pillar strategy of internationalisation, focus on specialist retailers and our concentration on the electro-bike megatrend. We reached important milestones in the 2010/11 financial year. Utilising some of the proceeds from our successful IPO in February 2011, we took over direct sales in Great Britain and Australia ourselves. As the result of our joint venture with the electro-motor specialist Daum Forschung und Entwicklung, we also regard ourselves as very well positioned to further expand our market and technology leadership in the future. The electro-bike is spurring the entire bicycle sector - and we are right at the front in this respect."
Uwe Bögershausen, the company's CFO, went on to add: "Furthermore, as the result of our merger with Pon Holdings, we have found a strong partner to actively support our future corporate development. All in all, we are very pleased with the outstanding results, and we are confident that we will continue our success story over the coming years. This is also reflected in the positive feedback that we have received at the bike trade fairs in autumn 2011. Here the trends for the 2012 biking season were established, and a substantial order volume has already been issued. Our preorder volume at these events increased significantly on a year-on-year basis."
Derby Cycle will publish its full report for 2010/11 financial year on January 26, 2012, and will make it available for downloading from its website at www.derby-cycle.de within the "Investor Relations" area.
About Derby Cycle Holding GmbH
Derby Cycle is Germany's largest bicycle manufacturer in terms of revenues, and one of the leading manufacturers in Europe. In particular, global demand growth for high-quality electric and sports bicycles, as well as the company's advancing internationalisation in all European volume markets, are reflected in the company's dynamic growth. Derby Cycle's product range comprises electric bicycles, sports bicycles for leisure and competition purposes, as well as comfort bikes for everyday and travel use. These bicycles are sold through the established Kalkhoff, Focus, Raleigh, Univega and Rixe brands. All models are developed and assembled at the company's base in Cloppenburg, Germany. These high-quality products are distributed through specialist retailers who provide their customers with professional advice and extensive service.
With an average of 614 employees, on the basis of preliminary figures Derby Cycle achieved revenue of around EUR 236 million in the 2010/2011 financial year.
Further information is available at: www.derby-cycle.com