Accell Group In The Netherlands Increases Sales By 17% In 2020

Recently, Accell Group announced its 2020 performance. Accell’s 2020 net sales were 1.3 billion euros (1.5 billion U.S. dollars), an increase of 17% over 2019. Net profit was 64.8 million euros, higher than the 2.8 million euros in 2019.

Accell Group's EBIT increased from 60 million Euros last year to 74.7 million Euros. Basic earnings per share were 2.42 Euros, higher than last year's 2.22 Euros. From a regional perspective, sales in the Benelux countries increased by 18.1%, while sales in Central Europe (Germany, Switzerland and Austria) fell by 0.4%. In the rest of Europe, sales increased by 28.1%.

Ton Anbeek, CEO of Accell Group, said: “This is more proof than ever that biking can help the world move forward.” “The significant increase in sales is broad and comes from our e-bike and e-cargo bike categories as well as parts and Strong contribution from the attachment. Despite the pandemic-related supply chain inefficiencies, organic sales growth of 17% coupled with our focus on costs and cash has resulted in a 45% increase in our basic EBIT and very strong annual cash flow."

The high demand for Accell brand bicycle series, the growth rate of Benelux Benelux reached 18.1%. Sales in the central region (mainly Germany, Switzerland and Austria) fell slightly by 0.4%. In the second half of the year, the region’s strong sales recovery was hindered by the decline in bicycle supply, which was also the result of Germany’s shift of inventory to other regions during the closure of stores. In the rest of Europe, mainly the United Kingdom, Scandinavia and France, Accell’s sales grew strongly by 28.1%. Sales of parts and accessories increased by 36.2%. The year-round growth was very strong, thanks to strong sales from dealers and online stores across Europe.