All articles by Jo Beckendorff – Page 10
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ArticlePinarello’s good results accelerate further investments
Based on the good financial results of the 2021/22 fiscal year (ended June 30), Italy’s Cicli Pinarello s.r.l. is looking to a bright future. For the current fiscal year 2022/23, the road bike supplier is expecting a growth rate of between 25 and 30 percent – “still considering the limitation ...
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ArticleWeak bicycle market significantly hurts Mips sales and margin in Q3
High bicycle helmet inventories at retailers and production cuts at manufacturers are hurting the Swedish Brain Protection System (BPS) manufacturer Mips AB. Net sales fell 39 percent to SEK 113 million (€10.23m) in the third quarter. Organic growth fell by 50 percent. Bit fell 66 percent to SEK 37 million ...
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ArticleBicycle Stocks Q3 2022: Weighed down by fear of global crash, yet 1/4 buck the downward trend
The Russian war against Ukraine is having such a major global impact that other issues, such as Covid, seem to be taking a back seat. The energy crisis forced by the war, combined with rising interest rates, inflation, and consequently weakening consumer demand and spending, could lead to a global recession – and even a global stock market crash.
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ArticleYamaha launches first e-bikes under own name on European market
For a long time, pedelec pioneer Yamaha had maintained a low profile when it came to e-bikes to be sold in the Western world. It took (too) long to develop drive units and the associated service specifically tailored to the European market. Now, however, things are suddenly happening at a ...
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ArticleNew PBG production facility in Lithuania on schedule
After the grand opening of German Kalkhoff Werke GmbH’s plant in September (production of Kalkhoff and Focus e-bikes already started in March), there were questions as to whether Kalkhoff’s Dutch parent company, Pon Bike Group (PBG), would be able to open its third European production facility in Lithuania in 2024 ...
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News briefsBergfreunde creates and fills new head of buying position
Source: Bergfreunde Michael Vieweger, new Head of Buying Bergfreunde German e-commerce mountain sports, climbing and outdoor retailer Bergfreunde GmbH has hired Michael Vieweger as head of buying, a new position. The former purchasing manager for sports at fashion and lifestyle company E. Breuninger GmbH & Co. will ...
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ArticlePaul Lange management expands with third-generation family member
Source: Paul Lange & Co. Paul-César Lange Stuttgart-based bicycle wholesaler and importer Paul Lange & Co OHG has filled the newly created position of chief strategy officer (CSO) with Paul-César Lange, who will be responsible for strategic direction in his new role with immediate effect. He will ...
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ArticlePortugal’s two-wheeler export volume grows 38 percent in the first 7 months
According to the Portuguese Bicycle Industry Association ABIMOTA, Portugal has achieved a production growth of 38 percent in the first seven months of the current year 2022 (and compared to the same period in 2021). These figures, which have also been confirmed by the European Union’s statistical office Eurostat, make ...
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News briefsPierer Industrie AG acquires majority stake in Syntace
Austrian-based Pierer Industrie AG has acquired an unnamed majority stake in renowned German bicycle component manufacturer Syntace GmbH. No details of the purchase price were disclosed. Syntace develops and produces a wide range of high-quality lightweight products from wheels to hubs, handlebars, seat posts and pedals. The high-quality MTB niche ...
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ArticleMips predicts temporarily weaker bicycle market than expected
After two years of bicycle-related sales records, the listed Thule Group AB already spoke of an imminent temporarily reduced bicycle-related sales volume that will affect sales and profitability in the coming months (OIC reported). Now Mips AB, also from Sweden, is following suit: The Brain Protection System (BPS) manufacturer, also ...
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ArticleRiese & Müller with new management structure and first-time management board
Almost 30 years ago, Markus Riese and Heiko Müller, then students, founded the bicycle company Riese & Müller GmbH (R&M). Since then, the German business has grown from a folding bike start-up to a global player in the e-bike market and today employs over 900 people and generates annual sales ...
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News briefsBike chain Multicycle launches in Austria
Shortly before opening its 31st store in its home market of Germany, German bicycle chain Multicycle Fahrrad-Handels GmbH & Co. KG announced plans to expand to Austria. So far, the company, known primarily as a Cube store operator, had only announced plans to open four more stores (Frankfurt West, Reutlingen, ...
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ArticleSwedish e-bike manufacturer EcoRide brings production home
Due to its growth course and imposed EU anti-dumping duties on e-bikes from China, e-bike supplier Nordic Group EcoRide AB moved its production from China to Poland in 2018 – still under the old company name ProNordic Group. Now the Swedish company is moving production again, from Poland to Sweden ...
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ArticleBosch eBike Systems expands IBD service portfolio in Europe
German e-bike drivetrain maker Bosch eBike Systems is strategically expanding its service portfolio for independent bicycle dealers in Europe. In addition to launching training courses in five additional countries (Ireland, Croatia, Luxembourg, Poland and Slovenia), the company has created a new partner portal that allows e-bike dealers to stay up ...
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ArticlePon Holdings continues to invest in the automotive and bicycle mobility segments
Source: Veloretti After the parent company of Pon Bike Group (PBG), Pon Holdings B.V., on June 1 became a minority shareholder in German car dealer Adelbert Moll GmbH & Co. KG (better known as Moll Group) for an undisclosed amount, the Dutch retail and services giant has ...
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ArticleBikeExchange reports higher revenue and loss, lower costs
In its 2021/22 annual report, publicly traded online bicycle marketplace BikeExchange Limited makes no secret of the fact that it has been on a rigorous restructuring course over the past 12 months. Nevertheless, total revenue increased 47.4 percent compared to the previous fiscal year 2020/21 (which also ended June 30) ...
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ArticlePierer Mobility defies supply problems in H1
The half-year report presented on Aug. 30 underscores why Pierer Mobility AG had already raised its annual forecast for 2022 one day earlier via an ad hoc announcement: Despite aggravated delivery problems, the Austrian group achieved positive sales development in the first six months of the year. However, this could ...
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ArticlePierer Mobility raises sales forecast for FY 2022
While many listed companies are lowering their sales forecasts in these troubled times, Austrian two-wheeler giant Pierer Mobility AG has just revised its sales forecast for fiscal 2022 for the better. According to an ad hoc release published on Aug. 29, good performance in the first half of 2022 and ...
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ArticleExcavation work for new MBPS corporate headquarters in full swing
With the completion of the basic planning phase, the Magura Bosch Parts & Services (MBPS) joint venture formed by Magura and Bosch eBike Systems is starting construction work on the previously communicated new energy-efficient corporate head office. After completion of the excavation work, the start of the ...
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ArticleRetirement of SRAM’s long-serving CFO
Source: SRAM Group Mike Herr After 28 years with the SRAM Group, Mike Herr is retiring from his post as CFO at his own request. As his successor, the U.S. bicycle supplier has recruited Heather Bridges to its Chicago headquarters. She joins from global brand leader Halo ...
