EANS-News: Derby Cycle grows revenue by 6.6% in first three months of 2011/12

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3-month report

Subtitle: - Sales revenues up 6.6% year-on-year to EUR 40.3 million -
Operating profit (EBIT) impacted by special effects arising from M&A
activities - Electric bike volume sales up 10.3% - Pre-order book
position signals positive trend in 2011/12 financial year

Cloppenburg, February 24, 2012 (euro adhoc) - Derby Cycle AG (ISIN
DE000A1H6HN1, WKN A1H6HN), Germany's largest bicycle manufacturer in
terms of sales, has published its financial report for the first
three months of the 2011/12 financial year.

Derby Cycle grew its sales revenues by around 6.6% in the first
quarter of 2011/12 (as of December 31, 2011), from EUR 37.8 million
in the comparable period of the previous year to EUR 40.3 million.
Operating profit (EBIT) was impacted by special one-off effects in
the reporting period arising from the previous months' M&A
activities, and amounted to EUR 0.6 million (prior-year period: EUR
1.9 million). This generated a 1.5% EBIT margin in the first nine
months of 2011/12, compared with 4.9% in the prior-year period. There
was a corresponding development in consolidated net income, which
stood at EUR 0.1 million as of December 31, 2011, compared with EUR
1.0 million in the previous year's reporting period (-90.0%). This is
equivalent to EUR 0.02 of earnings per share (previous year: EUR
0.13).

Compared with sales in the electric bikes segment of around 12,600
cycles in the first three months of the 2009/10 financial year, the
company has already sold around 13,900 units in the same period of
the current financial year (+10.3%). In overall terms, approximately
82,000 bicycles from the Kalkhoff, Raleigh, Rixe, Focus and Univega
brands were sold at Group level. This represents 1.3% growth compared
with the previous year's figure of 81,000 units. Sales revenues
generated abroad were slightly below the previous year's levels,
falling by 3.3% from EUR 12.3 million to EUR 11.9 million. The
foreign share of total revenue amounted to 29.6% as a consequence
(previous-year period: 32.6%).

Mathias Seidler, Derby Cycle AG's CEO, expressed his overall
satisfaction with the company's growth in the first quarter of
2011/12 as follows: "With around 82,000 bicycles sold, we boosted
sales volumes by 1.3% year-on-year, and achieved 6.6% revenue growth.
In particular, the trend towards electric bikes is unbroken. We have
again proved our ability to perform during the October to December
months, which tend to be weaker for bicycle manufacturers. Prospects
also remain very good for the coming months due to the high pre-order
book position at the end of the last financial year. We reported a
25% year-on-year increase as of September 30, 2011."

Uwe Bögershausen, the company's CFO, went on to add: "We can be very
satisfied with the results achieved in the first quarter - they
represent a really good start to the new financial year. The fall in
EBIT is due to special one-off effects that are mainly due to our
greater requirement for advisory services in connection with our own
M&A activities, Accell's takeover attempts, and the takeover by Pon.
This in no way detracts from the overall positive picture."

The complete financial report for the first three months of the
2011/12 financial year can be downloaded from today from the
company's website at www.derby-cycle.de, within the "Investor
Relations" area.

Company profile: Derby Cycle is Germany's largest bicycle
manufacturer in terms of revenues, and one of the leading
manufacturers in Europe. In particular, global demand growth for
high-quality electric and sports bicycles, as well as the company's
advancing internationalisation in all European volume markets, are
reflected in the company's dynamic growth. Derby Cycle's product
range comprises electric bicycles, sports bicycles for leisure and
competition purposes, as well as comfort bikes for everyday and
travel use. These bicycles are sold through the established Kalkhoff,
FOCUS, Raleigh, Univega and Rixe brands. All models are developed and
assembled at the company's base in Cloppenburg, Germany. These
high-quality products are distributed through specialist retailers
who provide their customers with professional advice and extensive
service.

With around 614 employees, Derby Cycle achieved revenue of EUR 235.5
million in the fiscal year 2010/2011, 66.9% of which was generated in
Germany, and 33.1% abroad. Earnings before interest and tax (EBIT)
amounted to approximately EUR 19.6 million. Derby Cycle sold a total
of around 482,000 bicycles, of which 87,000 comprised e-bikes. The
company forecasts revenues of EUR 250 million to 270 million, and an
EBIT margin of 8 to 9% (2010/11: 8.3%) for the 2011/12 fiscal year
that ends on September 30, 2012.

Further information is available at: www.derby-cycle.com

Further inquiry note:
cometis AG
Unter den Eichen 7
65195 Wiesbaden
www.cometis.de

Henryk Deter
Claudius Krause
Telefon: +49 (0)611-20 58 55-28
E-Mail: krause@cometis.de

end of announcement euro adhoc
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company: Derby Cycle AG
Siemensstr. 1-3
D-49661 Cloppenburg
phone: +49-4471-966-238
FAX: +49-4471-966-44820
mail: u.boegershausen@derby-cycle.de
WWW: http://www.derby-cycle.de
sector: Consumer Goods
ISIN: DE000A1H6HN1
indexes: SDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English