Accell Group N.V. announced on 1 April 2016 that it had agreed to sell its North American parts & accessories (P&A) business to Hawley-Lambert, a P&A company with operations in the United States and Canada. With this transaction, Accell Group wants to increase its focus on its core business in the United States, via its own bicycle brands and related merchandise. Accell Group has also agreed with Hawley-Lambert that it will be given the exclusive distribution rights in the United States and Canada for Accell Group's proprietary accessory brand XLC. The turnover from the P&A business will therefore be around € 15 million lower on an annual basis. The transaction will have a positive impact on Accell Group's operational result and its working capital.
Financial position
Taking into account the normal effects related to the seasonal sales cycle for bicycles, there were no significant changes in Accell group's financial position in the first months of 2016.
General Meeting of Shareholders
The Accell Group N.V. Annual General Meeting of Shareholders will be held today at 14.30 hours at the offices of Accell Group N.V. in Heerenveen.
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About Accell Group
Accell Group N.V. focuses internationally on the mid-range and higher segments of the market for bicycles and bicycle parts & accessories. The company has leading positions in the Netherlands, Belgium, Germany, Italy, France, Finland, Turkey, the United Kingdom and the United States. In Europe, Accell Group is the market leader in the bicycle market in terms of turnover. Accell Group's best known brands are Batavus (Netherlands), Sparta (Netherlands), Koga (Netherlands), Loekie (Netherlands), Ghost (Germany), Haibike (Germany), Winora (Germany), Raleigh and Diamondback (UK, US, Canada), Lapierre (France), Tunturi (Finland), Atala (Italy), Redline (US) and XLC (international).
Accell Group and its subsidiaries employ approximately 3,000 people in eighteen countries worldwide. The company has production facilities in the Netherlands, Germany, France, Hungary, Turkey and China. Accell Group products are sold in more than seventy countries. The company's headquarters are located in Heerenveen (the Netherlands). Accell Group shares are traded on the official market of Euronext Amsterdam and included in the Amsterdam Small Cap index (AScX). In 2015, Accell Group recorded profitable turnover of € 986 million.
For further information:Accell Group N.V.
René Takens, Chairman of the Board of Directors (CEO) tel: +31 (0)513 638701 Hielke Sybesma, member of the Board of Directors (CFO) tel: +31 (0)513 638702 Website: www.accell-group.com
Financial calendar 2016
Ex-dividend 28 April 2016
Record date 29 April 2016
Dividend available for payment 20 May 2016
Publication interim results 2016 22 July 2016
Publication trading update 15 November 2016
This is a translation, in case of any inconsistencies the Dutch version of this press release is leading.
Accell Groep NV issued this content on 26 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2016 07:07:24 UTC
Original Document: http://www.accell-group.com/files/4/4/5/1/160426%20-%20Press%20release%20Accell%20Group%20trading%20update%20Q1%202016%20ENG.pdf