Derby Cycle AG

EANS-News: Derby Cycle reports record 36% sales growth in FY 2010/11

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Annual Reports

Subtitle: Sales revenue of EUR 235.5 million (+36% year-on-year) / Operating
profit (EBIT) up 62% to EUR 19.6 million / Electric bike sales almost double to
87,000

Cloppenburg (euro adhoc) - January 24, 2012 - Derby Cycle AG (ISIN DE000A1H6HN1,
WKN A1H6HN), Germany's largest bicycle manufacturer in terms of sales, reports
record sales revenues and EBIT for the 2010/11 fiscal year. 

The company's sales experienced significant growth of 36.0% in the 2010/11
fiscal year elapsed, rising from EUR 173.2 million to EUR 235.5 million. EBIT
was up even more sharply, increasing from EUR 12.1 million in the comparable
period of the previous year to EUR 19.6 million, representing 61.7% growth, and
an 8.3% EBIT margin (previous year: 7.0%). Derby Cycle AG's consolidated net
income grew 49.3% to EUR 11.2 million (previously: EUR 7.5 million), equivalent
to EUR 1.49 of earnings per share (previous year: EUR 1.00). 

A total of 482,000 bicycles from the Kalkhoff, Raleigh, Rixe, FOCUS and Univega
brands were sold in the reporting period, equivalent to a 12.1% increase
compared with the previous year's figure of 430,000 units. The company almost
doubled unit sales to 87,000 in its electric bikes segment (previous year:
44,000 bicycles). These figures also reflect the particularly strong
contribution that electric bikes are making to the company's growth. The share
of sales realised abroad were also up and in line with business expansion. The
company is now selling around one third of its products outside Germany, which
also underscores the successful implementation of Derby Cycle's
internationalisation strategy.

Mathias Seidler, CEO of Derby Cycle AG, looks back on the progress made in the
past financial year with pride: "Once again, we have demonstrated that we have
first-class products. Above all, our electric bikes are making outstanding
progress on the market, and have played a particular role in bolstering our
growth." Seidler also takes a very positive view of the future: "We identified
the bicycling megatrend, and offer the right products for all target groups. We
have also received very good feedback at the 2011 bicycle trade fairs, and our
pre-order volumes are up significantly on the previous year."

"In view of our continuing growth dynamics, we are very confident that we will
continue the past financial year's success story in 2011/12," added Uwe
Bögershausen, the company's CFO. This confidence is already reflected in the
company's forecast: "Based on continued high demand in the electric bikes
segment, and a further advance in our internationalisation, we anticipate total
sales revenues of between EUR 250 million and EUR 270 million for the 2011/12
financial year, and an 8 to 9% EBIT margin."


The complete 2010/11 annual year report can be downloaded from today from the
company's website at www.derby-cycle.com, within the "Investor Relations" area. 



Company profile:
Derby Cycle is Germany's largest bicycle manufacturer in terms of revenues, and
one of the leading manufacturers in Europe. In particular, global demand growth
for high-quality electric and sports bicycles, as well as the company's
advancing internationalisation in all European volume markets, are reflected in
the company's dynamic growth. Derby Cycle's product range comprises electric
bicycles, sports bicycles for leisure and competition purposes, as well as
comfort bikes for everyday and travel use. These bicycles are sold through the
established Kalkhoff, FOCUS, Raleigh, Univega and Rixe brands. All models are
developed and assembled at the company's base in Cloppenburg, Germany. These
high-quality products are distributed through specialist retailers who provide
their customers with professional advice and extensive service.

With around 630 employees, Derby Cycle achieved revenue of EUR 235.5 million in
the fiscal year 2010/2011, 66.9% of which was generated in Germany, and 33.1%
abroad. Earnings before interest and tax (EBIT) amounted to approximately EUR
19.6 million. Derby Cycle sold a total of around 482,000 bicycles, of which
87,000 comprised e-bikes. As a consequence, Derby Cycle has asserted a position
of clear market leadership in 2011. The company forecasts revenues of EUR 250
million to 270 million, and an EBIT margin of 8 to 9% (2010/11: 8.3%) for the
2011/12 fiscal year that ends on September 30, 2012.

Further information is available at: www.derby-cycle.com


Further inquiry note:
cometis AG 
Unter den Eichen 7 
65195 Wiesbaden
www.cometis.de

Henryk Deter
Telefon: +49 (0)611-20 58 55-13
E-Mail: deter@cometis.de

end of announcement                               euro adhoc 
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company:     Derby Cycle AG
             Siemensstr. 1-3
             D-49661 Cloppenburg
phone:       +49-4471-966-238
FAX:         +49-4471-966-44820
mail:     u.boegershausen@derby-cycle.de
WWW:      http://www.derby-cycle.de
sector:      Consumer Goods
ISIN:        DE000A1H6HN1
indexes:     SDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing/prime standard: Frankfurt 
language:   English
 



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