Derby Cycle AG

EANS-News: Derby Cycle AG: Change in the Supervisory Board

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Company Information

Cloppenburg (euro adhoc) - September 16, 2011 - Derby Cycle AG (ISIN
DE000A1H6HN1) has announced a change in its Supervisory Board. Dr. Robert
Hennigs, deputy chairman of the Supervisory Board of Derby Cycle AG, informed
the company today that he will step down from his position effective by the end
of today. The chairman of the Supervisory Board has agreed to accept the
departure of Dr. Hennigs. Furthermore, the departure of Dr. Hennigs takes place
in mutual agreement with the Executive Board and Supervisory Board. 

Successor of Dr. Hennigs as member of the Supervisory Board is Gerold Heinen.
Mr. Heinen was appointed substitute member for Dr. Hennigs at the extraordinary
General Meeting of Derby Cycle AG on December 10, 2010. He will take Dr.
Hennigs´ place on the Supervisory Board effective by September 17, 2011. His
term of office, in accordance with the articles of association, ends with the
Annual General Meeting that decides on the ratification of the actions for the
2014/15 financial year - unless a new Supervisory Board member is elected at the
next Annual General Meeting by a three-quarters majority. 

Next to his function on the Supervisory Board of Derby Cycle AG, which has now
ended, Dr. Hennigs is CEO of Finatem Fonds Management Verwaltungs GmbH. On
September 7, 2011, Finatem informed the company by voting rights notification
that it had reduced its participation in Derby Cycle on September 2, 2011 from
10% to 0%. Dr. Hennigs had been a member of the Supervisory Board since December
10, 2010. From October 2005 until the IPO of Derby Cycle, he was a member of the
advisory board of the company. During that time, he contributed to the success
of the company in a significant way. The Executive Board and Supervisory Board
of Derby Cycle AG wish to thank Dr. Hennigs for his trustworthy cooperation.

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 550 employees, Derby Cycle achieved revenue of EUR 173 million in
the 2009/2010 financial year, 72.6 percent of which was generated in Germany,
and 27.4 percent abroad. Earnings before interest and tax (EBIT) amounted to
approximately EUR 12 million. Derby Cycle sold a total of around 430,000
bicycles, of which 44,000 comprised e-bikes. As a consequence, Derby Cycle has
asserted a position of clear market leadership in 2010 with a 20 percent market
share. The company forecasts revenues of EUR 220 million to 240 million, and an
EBIT margin of 8 to 9 percent (2009/10: 7.0 percent) for the 2010/11 financial
year that ends on September 30, 2011.

Further information is available at:

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

Dominic Großmann / Tobias Eberle
Telefon: +49 (0)611-20 58 55-15

end of announcement                               euro adhoc 

company:     Derby Cycle AG
             Siemensstr. 1-3
             D-49661 Cloppenburg
phone:       +49-4471-966-238
FAX:         +49-4471-966-44820
sector:      Consumer Goods
ISIN:        DE000A1H6HN1
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, München 
language:   English

Weitere Meldungen: Derby Cycle AG

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