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Accell Group N.V. (Accell) announces that net sales continued to be very strong from July till October coming in at +38% versus the same period last year and bringing YTD net sales growth to 16%. Consequently, Accell revises its guidance upwards and now expects EBIT for 2020 to exceed prior-year EBIT.

HEERENVEEN (THE NETHERLANDS), 29 SEPTEMBER 2020. Bicycle manufacturer Accell Group today launches its new purpose with an online video featuring the company’s own staff showing how cycling moves the world forward. Accell also announces that its plants in Heerenveen, which produce bicycles for the European market, are transitioning to solar energy in 2021. The move will result in a reduction of more than 1,100 tonnes in CO2 emissions each year. These initiatives are part of Accell’s sustainability policy, which is aimed at having all the company’s own production plants operating 100% on sustainable energy in 2030.

HEERENVEEN (THE NETHERLANDS), 24 JULY 2020 – Accell Group N.V. recorded a year-on-year sales growth of 53.1% in June, bringing H1 net sales to € 676.9 mio, up 4.0% versus last year, despite the impact of the lockdowns in March and April. H1 EBIT came in at € 45.1 mio (excluding one-offs: € 47.5 mio), trailing H1 2019 levels by 19.0% (excluding one-offs: 14.7%) with added value margin down 359 bps at 27.6%, mainly due to mix effects and higher costs caused by COVID-19 related disruptions in the global supply chain. Working capital improved by 243 bps to 29.7% of net sales vs June-end 2019, primarily due to reduced inventories. Operating cash flow came in at € 129.1 mio as a result of the above and as part of our precautionary cash management measures taken in response to the virus outbreak.