Accell Group reports an 8.8 percent consolidated sales rise to €333 million in the first half of 2009, led by a 14 percent jump to €84 million in Germany. Organic growth was just over 7 percent. The net profit increased by 14.5 percent to €22.1 million compared with 2008, and the company credited an improved product mix.
Sales increases took place throughout Europe, with a 9 percent rise in the Netherlands to €151 million; and 8 percent increase in France to €29 million; and 10 percent growth in other EU countries to €47 million. Elsewhere, however, revenues dropped by 9 percent to €22 million.
By product group, bicycle sales climbed by 11 percent to €263 million, though the growth in terms of units was only 1 percent, to 579,000, for an average sales price of €455 against €413 in the first six months of 2008. Turnover from bicycle parts and accessories rose by 13 percent to €58 million.
Much of the boost in bikes came from electric bicycles, though sports bicycles did well also. In the Netherlands, a drop was noted in the number of traditional city bikes. Sports bicycles such as those of Winora and Ghost went well in Germany. The racing and ATB segments as well as the city and electric segments went well in France.
The fitness segment, which makes up only 3.3 percent of Accell’s total sales, fell by 35 percent to €12 million because of lower demand and a loss of many international distributors. Accell decided not to increase credit limits with distributors who were no longer able to finance their purchases.
