CLOPPENBURG, Germany (BRAIN)—Derby Cycle AG grew its revenue by around 25 percent to 36.6 million euros ($48 million) in the fourth quarter of its 2010/2011 fiscal year, based on preliminary figures released by the company late Tuesday.
That’s up from 29.1 million euros ($38.1 million) in the same period of the previous year. This results in 36 percent revenue growth for the full 2010/11 financial year to 235.5 million euros ($308.9 million), up from 173.2 million euros ($227.1 million) in the 2009/2010 year.
"We have achieved a further record year in our company's history through successfully and stringently implementing our three-pillar strategy of internationalisation, focus on specialist retailers and our concentration on the electro-bike megatrend,” said Mathias Seidler, CEO of Derby Cycle AG.
“We reached important milestones in the 2010/11 financial year. Utilising some of the proceeds from our successful IPO in February, we took over direct sales in Great Britain and Australia. As the result of our joint venture with the electro-motor specialist Daum Forschung und Entwicklung, we also regard ourselves as very well positioned to further expand our market and technology leadership in the future."
Uwe Bögershausen, the company's CFO, added: "Furthermore, as the result of our merger with Pon Holdings, we have found a strong partner to actively support our future corporate development. All in all, we are very pleased with the outstanding results, and we are confident that we will continue our success story over the coming years. This is also reflected in the positive feedback that we have received at the bike trade fairs in Autumn 2011. Here the trends for the 2012 biking season were established, and a substantial order volume has already been issued. Our preorder volume at these events increased significantly on a year-on-year basis."
Derby Cycle will publish its full report for 2010/11 financial year on January 26 and will make it available for downloading from its website at www.derby-cycle.de.