All articles by Jo Beckendorff – Page 14
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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 ...
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News briefsExtension of fundraising period for Giant officially approved
On Aug. 15, the extension of the fundraising period for Giant Manufacturing Co. Ltd.’s (Giant Group, Taiwan’s largest bicycle manufacturer) 2022 cash capital increase was officially approved by the domestic Financial Supervisory Commission. On May 26, Giant Group had already received approval from the commission for a cash capital increase ...
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ArticleLeatt reports yet another quarter of global revenue growth
U.S. over-the-counter (OTC) traded South African protective equipment maker Leatt Corp reported a 25.4 percent increase in sales (compared to Q2 2021) to $17.94 million for the second quarter of the current fiscal year 2022. Operating income increased 18.5 percent to $3.73 million, while net income increased 13 percent to ...
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ArticleBike24’s bright spot in difficult times is its young international business
Thanks to sales increases in Spain, France and Italy, the listed German cycling, running and swimming sports online retailer Bike24 Holding AG was at least able to significantly grow its international business. Nevertheless, the Dresden-based company had to accept a decline in sales of 4 percent to €67 million in ...
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ArticleChange of ownership at family-owned bicycle supplier Stevens
Source: Stevens Stevens founders and brothers Wolfgang (left) and Werner von Hacht. As he reached the age of 65, company co-founder Wolfgang von Hacht retired from the management of Stevens Vertriebs GmbH. His 50 percent share in the German bicycle supplier, which once emerged from a Hamburg ...
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ArticleFox Factory with new sales records, gives cautious outlook
U.S.-based suspension specialist Fox Factory Corp. reported total revenues of $406.71 million (€399.48 million, +23.9% year-on-year) in its second fiscal quarter of 2022. This amount is split between the Powered Vehicles Group (PVD, $229.03 million, +20.9%) and the Specialty Sports Group (SSD, $177.67 million, +28.1%). SSD sales increased due to ...
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ArticleGiant Group reports historic quarterly record
With a record-breaking second quarter under its belt, Taiwanese bicycle manufacturer Giant Manufacturing Company Limited (Giant Group) has increased its H1 sales by 7.2 percent to a total of TWD 45.01 billion (€1.47 billion). Considering the rising inflation worldwide and the war in Ukraine, this is an excellent result. In ...
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ArticleMips withstands stock price decline with strong Q2 results
Thanks to continued strong sales in its Sport and Moto business units, helmet technology specialist Mips AB reported a 45.1 percent increase in sales in the second quarter of this year (and compared to April-June last year). The 206 million Swedish kronor (€19.77 million) earned also represents a new sales ...
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News briefsBike24 revises 2022 annual forecast
German bike, running and swimming sports online retailer Bike24 Holding AG has revised its previous forecast for the full year 2022 downwards due to the further deterioration in economic conditions in Q2 2022. According to the Dresden-based company, which has been listed on the stock exchange since June 2021, the ...
