Polish bicycle manufacturer ROMET forecasts 60% revenue growth
Polish bicycle manufacturer ROMET is projecting revenue growth of 60% in the 2024 season, thanks to what it says is its strategic approach to investment and innovation.
Investment in the electric bicycle segment is among the key reasons for ROMET’s optimism, which also comes after a year where it earned a net profit of PLN 17.1 million (£3.4 million). Electric assist share of the company’s 2024 revenue is planned to hit 40%, with a number of electric bicycle innovations promised in the 2024 collection. Also significant for the firm is an intensifying of its activities in foreign markets, expanding its sales network in Central Europe and the Balkans, but also in Scandinavia and Western Europe.
The 2023 season saw the highest growth rate in the electric and gravel ranges, mirroring trends seen elsewhere. For ROMET those categories saw sales year-on-year increase by more than 70%. Although mountain, trekking and cross models are still popular, it is electric bikes that are becoming the driving force behind the expected growth, it added.
ROMET is reportedly the largest bicycle manufacturer in Poland. The family company with 100% funded with Polish capital and has over 30 years’ experience in bicycle production – the brand itself is over 75 years old.
ROMET President Wiesław Grzyb said: “ROMET is as ready as ever to continue to innovate, develop and continuously improve its products, especially in the context of the dynamic segment of electric bicycles, which not only plays a key role in the market transformation, but is also central to our strategic vision. We believe that our involvement in this growing sector will contribute not only to ROMET’s growth as a brand, but also to the promotion of sustainability and electric mobility on a large scale. The new collection confirms that ROMET is one of the most modern manufacturing companies in Europe, providing its customers with bicycles of the highest quality at an affordable price.
“Faced with the unique challenges posed by the current market situation, we see that growth is inextricably linked to innovation and the ability to adapt to a changing environment. There is a clear bump in the industry. ROMET Group, as one of the few, has managed to limit the decline and generate a net profit of PLN 17.1 million, which is an achievement in the current market reality. We believe that the continuation of our activities, both on the domestic and international market, will allow us not only to maintain, but also to strengthen our position as a leader in the bicycle industry.”
