Derby Cycle, cycle manufacturer whose brands include the Kalkhoff and Raleigh range has experienced a revenue increase of 40% during the first half of its financial year driven by strong growth in sales of electric bikes.
According to a financial report released by the German company on Monday, sales of electric bikes increased from 17,000 to 39,000 out of a total of 244,000 bicycles this year bringing total revenue to 114.4 million euros.
“We were able to continue last years’ success story in the first half-year”, said Mathias Seidler, CEO of Derby Cycle AG. “We succeeded in further enhancing the profitability to more than 9% compared with the same period of the previous year, which already represented a record half-year. Off course we take a particularly positive view of the fact that we were able to further extend our outstanding market position in the e-bike area, in particular.”