Accell Group profit up by 15% in 2009

01/03/2010

Accell Group – owner of road bike brands such as Koga and Lapierre – posted a further rise in turnover and profit in 2009. Turnover increased by 6% to €572.6 million, up from €538.0 million in 2008; and according to the company, 5% of this was organic growth.

Net profit was up by 15% at €32.7 million compared to €28.6 million in 2008. This resulted in a 12% rise in net earnings per share to €3.30, up from €2.95 per share in 2008.

René Takens, Chairman of the Board of Directors of Accell Group noted that “Accell Group had another good year in 2009, due in part to turnover growth in Germany and France. Our distinctive power in innovation and contemporary design were once again success factors. Electrical bikes, sports bikes and bikes for special target groups sold especially well.

“The market was more dynamic than in previous years. There were more shifts in the market, to which we had to respond quickly and effectively. This placed greater demands on our organisation’s ability to adjust, but also contributed to the growth of our results.

“Health, environmental awareness, mobility and active recreation are and will remain important trends that stimulate consumer demand for our products. In the coming years, the use of bicycles for recreation and sports and as alternatives to the car will further increase in popularity. Based on this, we expect a further increase in turnover and result in 2010, barring unforeseen circumstances.”

www.accell-group.com

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