Derby Cycle AG : achieves 6.6% revenue

Corporate News

Derby Cycle AG achieves 6.6% revenue

15.02.2012

? Revenue up 6.6% to EUR 40.3 million ? Special effects from takeover impact EBIT ? Pre?order book position signals positive trend in 2011/12 financial year

Cloppenburg - Derby Cycle AG (ISIN DE000A1H6HN1, WKN A1H6HN), Germany's largest bicycle manufacturer in terms of revenue, grew its revenue by around 6.6%, from EUR 37.8 million in the prior-year period to EUR 40.3 million in the first quarter of 2011/12 (as of December 31, 2011), on the basis of preliminary figures. EBIT was impacted by special one-off effects, by contrast.

Matthias Seidler, CEO of Derby Cycle AG, regards the results achieved in the first quarter as a good start to the 2011/12 financial year: "We further expanded our revenue year-on-year between October and December, despite the fact that these tend to be weaker months for bicycle manufacturers. With around 82,000 bicycles sold, we boosted sales volumes by 1.3% year-on-year, and achieved 6.6% revenue growth. Prospects also remain very good for the coming months due to the high pre-order book position at the end of the last financial year, where we registered a 25% year-on-year increase as of September 30, 2011." Uwe Bögershausen, the company's CFO, went on to add: "We are very satisfied with the start to the new financial year. The lower EBIT is due to special one-off effects that are mainly attributable to our greater need for advisory services in connection with our own M&A activities, Accell's takeover attempts, and the takeover by Pon."

Derby Cycle AG will publish its full report for the first two months of the 2011/12 financial year on February 24, 2012, 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 614 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. 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.