Press release BoxID: 451976 (Derby Cycle Holding GmbH)
  • Derby Cycle Holding GmbH
  • Siemensstraße 1 - 3
  • 49661 Cloppenburg
  • Contact person
  • Dominic Großmann
  • +49 (611) 205855-15

Derby Cycle AG ends share repurchase

(PresseBox) (Cloppenburg, ) As planned, Derby Cycle AG (ISIN DE000A1H6HN1) today ended the share repurchase programme that the company announced on August 17, 2011 and started on August 29, 2011. Overall, 22,300 own shares - 0.30% of the 7,500,000 shares outstanding - were acquired by Derby Cycle during that time via the XETRA trading exchange. The average purchasing price was at EUR 19.81 per share.

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 around 550 employees, Derby Cycle achieved revenue of EUR 173 million in the 2009/2010 financial year, 72.6 percent of which was generated in Germany, and 27.4 percent abroad. Earnings before interest and tax (EBIT) amounted to approximately EUR 12 million. Derby Cycle sold a total of around 430,000 bicycles, of which 44,000 comprised e-bikes. As a consequence, Derby Cycle has asserted a position of clear market leadership in the German e-bike market in 2010 with a 20 percent market share. The company forecasts revenues of EUR 220 million to 240 million, and an EBIT margin of 8 to 9 percent (2009/10: 7.0 percent) for the 2010/11 financial year that ends on September 30, 2011.

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