Accell Group, Europe's largest bicycle maker, said sales were higher in the opening months of 2011 compared with last year thanks to early summer temperatures. The Dutch company's sales were supported by growing demand for sports and electric bicycles, which compensated further decline for traditional bikes, and acquisitions.
The use of bicycles for commuter traffic is increasing and e-bikes have become an integral part of cycling in the Netherlands and in Germany, Accell's two largest markets, according to the company. Sales of bicycle components and accessories were on the rise while revenues from fitness equipment decreased, mainly due to the closing of sales offices abroad. Accell confirmed its guidance of an increase in turnover and earnings in the full year.
The company has completed the purchase of Bianchi Bisiklet of Turkey and Italy's Atala. The Turkish company, renamed Accell Bisiklet, will be consolidated in the group's results from Feb.1, while the 50 percent stake in Atala will be accounted as a participation.
Market expectations indicate that Accell will finish 2011 with sales of slightly above €660 million against €557.2 million a year and a net profits will rise to around €39 million from €36.4 million.
