19.12.2013 MIFA Mitteldeutsche Fahrradwerke AG  DE000A0B95Y8

DGAP-News: MIFA launches cooperation venture with European bicycle group Cycleurope


 
DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Alliance MIFA launches cooperation venture with European bicycle group Cycleurope 19.12.2013 / 10:38 --------------------------------------------------------------------- MIFA launches cooperation venture with European bicycle group Cycleurope - Production and international sales cooperation venture in high-quality brand bikes area - Updated forecast: FY 2013 consolidated revenue slightly below expectations; medium-term forecast confirmed Sangerhausen, 19 December 2013 - MIFA Mitteldeutsche Fahrradwerke AG (WKN share: A0B95Y, ISIN share: DE000A0B95Y8), Germany's largest manufacturer of bicycles in terms of sales, has expanded its sphere of international activities to include a strategic partnership with globally-operating Cycleurope AB, one of Europe's largest bicycle groups. As from 2014, MIFA and Cycleurope will cooperate for the development and production of bikes and e-bikes in the high-end market segment. At the same time, both companies will review their international sales network and footprint and will engage cooperation to increase sales and market share of respective high-end brands. With regards to their domestic market and position, both companies should benefit from their strong presence and organization. Cycleurope is part of Grimaldi Industri AB Group in Sweden. Today its brand portfolio includes the following well-known brands: Bianchi, Crescent, DBS, Definitive, Kildemoes, Gitane, Monark, Peugeot and Puch. These brands are distributed through the company's numerous own branches and distributors in Europe and worldwide. Tony Grimaldi, Cycleurope's CEO, expressed his satisfaction with the cooperation venture as follows: 'In my opinion, MIFA's plant is a very modern and efficient bicycle production centre, and I was impressed by the e-bike production according to automotive standards. We are pleased with our new cooperation venture which will complement each company's expertise and market coverage for their respective benefit.' Peter Wicht, MIFA's CEO, added: 'This cooperation with Cycleurope looked particularly obvious to us. Our planned cooperation in producing high-quality bikes allows both companies to benefit from the development and production know-how that we have gained over recent years - not least as a result of manufacturing for Daimler and Deutsche Post. In return, we enjoy access to Cycleurope's established global sales network, and we can lend our branded bicycles business an ever stronger international aspect.' As far as the current 2013 financial year is concerned, Peter Wicht is no longer assuming that given a customer-specific delay in sales the company can achieve, as originally planned, revenue of between EUR 120 million and EUR 130 million: 'Our revenue target of at least EUR 120 million currently looks too ambitious. We now expect revenue of about EUR 115 million.' At the same time, MIFA is retaining its medium-term forecast of generating revenue of EUR 200 million in the next three to five years, and an EBIT margin between 7 and 9 %, according to Wicht: 'Undoubtedly, 2013 was still a year of transition for us during which we repositioned our specialist dealer sales for GRACE and Steppenwolf. We have recently bolstered our sales team to include sector experts Jörn Gersbeck and Thomas Liese, and we are also tapping new sales channels abroad with Cycleurope. For this reason, I expect our business with our GRACE and Steppenwolf Group brands to be strong growth-drivers in 2014.' About the company: MIFA Mitteldeutsche Fahrradwerke AG, headquartered in Sangerhausen (Saxony-Anhalt), is Germany's largest manufacturer of bicycles in terms of sales. The company offers a comprehensive range of bicycle models spanning entry price through to premium end. The components included in bicycle production are sourced from renowned suppliers and assembled at the company's sole production site in Sangerhausen, Germany. Business in this context focuses on product-related order production for major retail chains and OEM (Original Equipment Manufacturer) customers. E-bikes have also been manufactured since 2011. MIFA produces e-bikes for automotive manufacturer smart, manufactures for the Deutsche Post bicycle fleet, and supplies communal lending systems with multi-user vehicles, among other customers. In 2012, MIFA acquired Berlin-based e-bike manufacturer Grace and Bavaria-based cult bicycle forging company Steppenwolf, thereby intensifying its sales activities via specialist dealers. MIFA sells its bicycles predominately on its domestic German market. Further sales markets are located mainly in Western Europe. Both the operating business and administration and logistics are managed at the company's sole production location in Sangerhausen. MIFA sold around 546,000 bicycles in 2012 (previous year: around 644,000). The company generated EUR 111.3 million of sales revenue, up 10.7 % compared with the previous year (EUR 100.5 million). E-bikes represented 30.0 % of total revenue (previous year: 12.5 %). On this revenue base, the company achieved operating profit (EBIT) adjusted for acquisition effects of EUR 2.9 million (previous year: EUR 4.6 million), and correspondingly adjusted net income stood at EUR 1.1 million (previous year: EUR 2.0 million). MIFA has been a listed company since May 2004. Its shares are traded in the Prime Standard of the Regulated Market of the Frankfurt Stock Exchange. MIFA's corporate bond is listed in the Entry Standard for bonds on the Frankfurt Stock Exchange. Contact: Mark Appoh cometis AG Unter den Eichen 7 65195 Wiesbaden Phone: +49 (611) 205855-21 Fax: +49 (611) 205855-66 E-Mail: [email protected] End of Corporate News --------------------------------------------------------------------- 19.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: MIFA Mitteldeutsche Fahrradwerke AG Kyselhäuser Straße 23 06526 Sangerhausen Germany Phone: 03464-5370 Fax: 03464-537251 E-mail: [email protected] Internet: www.mifa.de ISIN: DE000A0B95Y8 WKN: A0B95Y Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München (m:access), Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 244152 19.12.2013


Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA1,2 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA-Marge3 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT1,4 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT-Marge5 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Jahresüberschuss1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Netto-Marge6 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Cashflow1,7 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer:

INVESTOR-INFORMATIONEN
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WKN Kurs in € Einschätzung Börsenwert in Mio. €
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KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
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KBV KCV KUV EV/EBITDA
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Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
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Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
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