AMSTERDAM (BRAIN) — Pon Holdings is reporting 2025 revenues of 9.7 billion euros ($11.20 billion) across all its businesses, including automotive and bicycle, with its bicycle business revenue totaling "around 2 billion euros."
Pon's bike brands include Cervelo, Santa Cruz, Gazelle, Focus and Urban Arrow. In 2022 it acquired Dorel Sports, which added Cannondale, Schwinn, Mongoose and GT to its portfolio. Pon also owns the Mike's Bikes retail chain in the U.S. and the Lease A Bike bike rental business.
The privately held group said in 2025 its bike businesss remained profitable and saw positive operating earnings. It said electric bikes accounted for 55% the units it shipped to independent dealers.
"Our bike business continues to face demanding market conditions, although these differ across geographies," said Janus Smalbraak, who left the Pon Holdings CEO position on Tuesday, being replaced by Christian Dahlheim effective April 1.
Regarding the bike market, Smalbraak continued, "The Dutch market is improving, while Germany remains under pressure, as does the U.S., partly due to tariffs. The performance of our bike leasing brands was stable. Against this backdrop, the various bike brands successfully introduced over 20 new models. While embracing a clearly differentiated range of brands, Pon.Bike launched a new portfolio strategy that will enable our retail partners to benefit more fully from the strength of the portfolio."
New CEO Dahlheim, noted that economic uncertainty will continue in 2026. "Automotive and bike market conditions are not expected to improve during the year, therefore our ongoing programs to improve efficiency and leveraging the power of our brand portfolio and global presence are of utmost importance. This strengthens our ability to invest in innovation, market positions, partnerships and future growth."
Pon said it enacted a "new portfolio strategy" for its bicycle business in 2025, which was presented to European dealers at its RideOn trade event in the fall.
