Derby Cycle celebrates successful IPO
Company lists today on the Prime Standard of the Frankfurt Stock Exchange / Opening price at EUR 13.15 (5.2% above the issue price)
A total of 7,500,000 ordinary no par value bearer shares were admitted to trading. Consequently, the company's market capitalisation amounted to EUR 98.6 million at its market debut.
"This represents a wonderful success for us. We are pleased that the IPO has been so successful. The business model was well accepted by investors both in Germany and abroad. We aim to use the proceeds from the capital increase to now intensify our planned further corporate growth, the expansion of our successful business with electric bicycles, and our internationalisation," stated Mathias Seidler, Derby Cycle AG's CEO. "Our solid financial structure, and our leading market position in Germany with our five high-quality bicycle brands, Focus, Kalkhoff, Univega, Raleigh and Rixe, form an outstanding foundation for this," Seidler went on to add.
The company will publish its report for the first quarter 2010/2011 on its website at www.derby-cycle.com prospectively on February 24, 2010.
Derby Cycle Holding GmbH
In terms of revenues, the company is the largest bicycle manufacturer in Germany and one of the leading manufacturers in Europe. The Derby Cycle Group's top-quality product range includes e-bikes, sport bikes for leisure cycling and competition, and comfort bikes for every day and travel use. These are sold using the well-established brands of Kalkhoff, Focus, Raleigh, Univega and Rixe. Derby Cycle sells models under each of its brands that are tailored to different target groups. All of the models are developed in Germany, the frames are made by contract manufacturers in Asia, the further components, such as forks, rechargeable batteries and gears are bought in and assembled in Cloppenburg. Derby Cycle attaches great value to the high quality of its bicycles and a differentiated brand presence. This allows Derby Cycle to sell its products via specialist retailers, who offer their customers professional advice and extensive service. They are thus the most important sales channel for normal bicycles and e-bikes.
In fiscal year 2009/2010 Derby Cycle recorded revenues of EUR 173 million with an average of approx. 550 employees. Of this figure, it recorded 72.6% in Germany and 27.4% abroad. Derby Cycle sold a total of around 430,000 bicycles last fiscal year, including around 44,000 e-bikes.
On the Internet at: www.derby-cycle.de