EANS-News: Derby Cycle AG generates 38% revenue growth in first nine months of 2010/11
04.08.2011 – 09:01
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report Subtitle: Revenue up 38% to EUR 198.8 million / Successful operating growth underpins company's plans Cloppenburg (euro adhoc) - August 4, 2011 - Derby Cycle AG (ISIN DE000A1H6HN1, WKN A1H6HN), the largest manufacturer of bicycles in Germany, on the basis of preliminary figures grew its revenue by around 35% in the third quarter of 2010/11, reporting an increase from EUR 62.5 million in the prior-year period to EUR 84.4 million. This results in revenue of EUR 198.8 million for the first nine months of the 2010/11 financial year, representing growth of around 38% compared with the first nine months of 2009/10 (EUR 144.1 million). Mathias Seidler, CEO of Derby Cycle AG, regards the company as well on course as a consequence: "We realised significant revenue growth in the first nine months of the current financial year thanks to our popular product range that includes high-quality electric bikes and sports bikes, which are also encountering increasingly strong demand abroad. This provides us with confirmation concerning our own estimates for the full year." Uwe Bögershausen, CFO of Derby Cycle AG, went on to add: "We are reaping the benefits from the consistent implementation of the corporate strategy that was presented at the time of the IPO, which is aimed particularly at strengthening development activity for electric bikes, and the internationalisation of the business." Derby Cycle AG will publish its complete report for the first nine months of the 2010/11 financial year on August 29, 2011, and will make it available for downloading from its website at www.derby-cycle.de, 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 550 employees, Derby Cycle achieved revenue of EUR 173 million in the 2009/2010 and 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: www.derby-cycle.com Further inquiry note: cometis AG Unter den Eichen 7 65195 Wiesbaden www.cometis.de Dominic Großmann / Tobias Eberle Telephone: +49 (0)611-20 58 55-15 E-mail: grossmann@cometis.de 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 mail: u.boegershausen@derby-cycle.de WWW: http://www.derby-cycle.de sector: Consumer Goods ISIN: DE000A1H6HN1 indexes: stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English