Friday, 19 April 2024
News

Accell Group sees electric bike sales rise in “all countries” along with average sale price

On the back of selling off the P&A division of Seattle Bike Supply earlier this month, the Accell Group has today announced a strong start to the year.

René Takens, Chairman of the Accell Group Board of Directors said in today’s PR: “The year 2016 started well for Accell group. Turnover has shown a positive development. Sales of electric bikes were up in all countries, especially in Germany. Sales of electric bikes also increased by more than 10% in countries where the market in this category is more modest. On top of this, we are seeing a clear rise in the demand for our sports bikes. This resulted in an increase in the average price of the bikes we sold compared to the same period in 2015. Turnover in parts & accessories came in at the same level as last year. The higher turnover we recorded helped us to book a healthy increase in profit for the first three months of 2016. We therefore maintain our forecast for 2016 of a further increase in turnover and profit, barring unforeseen circumstances”.

German bicycle industry association ZIV has previously placed e-bike sales at one in eight in Germany.

The April 1st announcement that the business would sell Seattle BikeSupply’s P&A outfit to Hawley Lambert indicated a renewed focus on the bike portfolio, as confirmed today.

With this transaction, Accell Group wants to increase its focus on its core business in the United States, via its own bicycle brands and related merchandise, added the release.

Accell Group has agreed with Hawley-Lambert that it will be given the exclusive distribution rights in the United States and Canada for Accell Group’s proprietary accessory brand XLC. The turnover from the P&A business will therefore be around € 15 million lower on an annual basis. The transaction will have a positive impact on Accell Group’s operational result and its working capital.

At 2.30PM today shareholders will meet in Heerenveen for the annual general meeting.