Accell Group Of The Netherlands Releases 2021 Semi-annual Report

According to foreign media reports, European bicycle company Accell Group NV announced its 2021 half-year results. The Accell Group, headquartered in Heerenveen, the Netherlands, noted that its net sales increased by 3.3%, or 699 million euros. Accell also pointed out that in the current global supply issues related to the global pandemic, EBIT has increased by 35.5%, and profits and profit margins have continued to grow.

The report includes net sales of 699.1 million euros, an increase of 3.3%. Note that current supply and logistics issues hinder further expansion. Accell's pre-tax profit margin increased by 208 basis points to 8.7%. Due to increased sales and increased value added, EBIT was 61.1 million euros. Finally, net profit was 44.2 million euros, an increase of 54.3%, mainly driven by the increase in profit before tax.

Until the end of June 2020, trade working capital increased slightly from 29.7% to 29.6%. These include a decline in debtors' positions due to increased component inventories. In addition, there is a negative free cash flow of 71.9 million euros. The increase in inventory led to an increase in cash expenditure, which was partially offset by higher EBITDA.

According to Ton Anbeek, CEO of Accell Group, “Despite the blockade and closure of bicycle shops in various countries in the first four months of this year, the demand for bicycles, parts and accessories is still strong throughout Europe and in various market segments.” Anbeek pointed out, “Key components The global supply chain restrictions of China limited the supply of products, thus affecting our bicycle sales in the first half of the year. Due to lower discounts and pricing measures, our added value rebounded, which was enough to offset the increase in material prices and additional supply chain costs "Accell’s continued focus on cost management has led to a substantial increase in EBIT and a further expansion of profit margins."

Anbeek thanked the Accell Group for its "new and innovative bicycle series" for many international recognitions and awards. For example, the annual bicycle award won by Batavus Dinsdag. Their Haibike AllMtn 7, Lapierre Overvolt and Koga Pace won another design and innovation award. Accell Group stated that they will continue the digital deployment of their website when Lapierre and Sparta are released.

Anbeek said that the demand for Accell Group's bicycle brands and products continues to grow throughout Europe. Anbeek said this reflects a growing awareness of the potential positive effects of cycling on health, business and the environment.