News

STRATEGY ‘LEAD GLOBAL. WIN LOCAL’ STARTING TO BEAR FRUIT; GROWTH ACCELERATED IN H2 2018 AND STRONG PLATFORM IN PLACE FOR FURTHER GROWTH
FY RESULTS CORE BUSINESS: TURNOVER +6.1% , EBIT € 54 MIO, WORKING CAPITAL -310 BPS


HEERENVEEN (THE NETHERLANDS), 8 MARCH 2019 – Accell Group N.V., the leading European bicycle company with well-known brands such as Haibike, Koga, Batavus and Raleigh, today announces that the ‘Lead Global. Win Local’ strategy is starting to pay off in its core markets (therefore excluding North America), with H2 2018 net turnover growth accelerating to 10.4%, bringing FY core turnover growth to 6.1%. EBIT core landed at € 54.0 mio, and excluding one-offs at € 58.9 mio.

HEERENVEEN (THE NETHERLANDS), 21 JANUARY 2019 – Accell Group N.V. today announces that the Supervisory Board has decided to strengthen its Board, and, therefore, has initiated a search with the aim of identifying and selecting a new chairman, who will closely guide the change process resulting from the company’s new strategy. Current chairman Ab Pasman will remain a member of the Board for one more year. As soon as the search has led to tangible outcomes and conclusions, we will provide further information. Following the appointment of the new chairman, the Supervisory Board will consist largely of new members.

COMPANY TAKES MAJOR STEPS IN ACCELERATED EXECUTION OF ON-TRACK GROWTH STRATEGY AND US BUSINESS WILL BE RUN AS A SEPARATE AND NON-CORE BUSINESS


HEERENVEEN (THE NETHERLANDS), 18 DECEMBER 2018 – In an update on its recently sharpened ‘Lead Global, Win Local’-strategy, Accell Group N.V. today announces new steps to create a more performance focused, consumer centric bicycle and bicycle parts company. The most important decision is to focus on our European business and to run our US activities as a separate and non-core business. The main reason for this is to focus on elimination of profit dilution as well as to focus on the core business. Also other steps have been taken to roll out the strategic plan.

HEERENVEEN (THE NETHERLANDS), 13 NOVEMBER 2018 – Accell Group notes that recent publications in Het Financieele Dagblad and De Telegraaf may lead to lack of clarity regarding a passage in the notes to the financial statements for 2017 on one of the bank covenants: the term loan leverage ratio.

HEERENVEEN (THE NETHERLANDS), 13 NOVEMBER 2018 – Accell Group has taken notice of the press release of Pon Holdings in which the company announces its intended partial offer for ordinary shares of Accell Group. The Management Board of Accell Group accepts the invite of Pon Holdings to receive an explanation of the intended partial offer. The Management Board and Supervisory Board will come up with a reaction in due time.