CLOPPENBURG, Germany (BRAIN)—Germany’s Derby Cycle expects to post third-quarter revenue of around 84.4. million euros ($122.3 million), an increase of 35 percent over the same quarter last year.
Derby won’t publish its final numbers until later this month, but in a preliminary report issued Thursday, the company said revenue for the third quarter and the first nine months of the year would be up. At the end of three quarters, (Derby starts its fiscal year in September) Derby grew 38 percent with revenue of 198.8 million euros ($288.1 million) compared with 144.1 million euros ($208.8 million) for the 2009/2010 financial year.
Mathias Seidler, CEO of Derby Cycle, attributed the growth to its line of e-bikes and sports bikes that are seeing increasingly strong demand internationally.
“We are reaping the benefits from the consistent implementation of the corporate strategy that was presented at the time of the IPO, which is aimed particularly at strengthening development activity for electric bikes, and the internationalisation of the business,” added Uwe Bögershausen, Derby’s chief financial officer.
Derby went public on the Frankfurt Stock Exchange in February. The company owns Focus, Kalkhoff, Rixe, Univega and licenses Raleigh in much of Europe. Derby will publish its complete financial report for the first nine months of the year on Aug. 29.
—Nicole Formosa
nformosa@bicycleretailer.com
