EANS-News: Derby Cycle: Change of Chief Financial Officer
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Board of Directors (Appointments and Changes)
Subtitle: - Reiner Brüls will succeed the current CFO Uwe Bögershausen
- Smooth change ensured through one month transition phase
Cloppenburg (euro adhoc) - Derby Cycle AG (ISIN DE000A1H6HN1, WKN A1H6HN),
Germany's largest bicycle manufacturer in terms of sales, has newly appointed
the post of CFO by the end of May 2012.
The company's current Chief Financial Officer (CFO), Mr. Uwe Bögershausen, will
leave the company at his own request as of May 31, 2012. Mr. Bögershausen is
leaving the company for personal reasons, and on an amicable basis. He will
continue to be available as a consultant for the company for all matters related
to the capital markets.
The Supervisory Board Chairman, Mr. Xeno Grimmelt, would like to thank Mr.
Bögershausen for the work that he has contributed to date: "We very much regret
that Mr. Bögershausen will leave the company. Derby Cycle AG has experienced
many changes following its successful initial public offering in February 2011,
and the arrival of Pon as a new major shareholder shortly thereafter. Mr.
Bögershausen successfully helped to shape this period of change, and was a
driving force behind the company's capital market orientation and the
implementation of its acquisition strategy."
Mr. Reiner Brüls will succeed Mr. Bögershausen as the company's new Chief
Financial Officer as of May 2, 2012, thereby ensuring a smooth transition. Mr.
Brüls (51) has many years of experience in the commercial area, most recently as
CFO of the unlisted company J. Müller AG, Brake. He has extensive experience in
the management and restructuring of international organisations, and has long
worked together with family shareholders. Supervisory Board Chairman Xeno
Grimmelt commented as follows: "We are convinced that, with Mr. Brüls, we have
found an outstanding CFO for the forthcoming tasks within our Group. We look
forward to working with him, and we would like to wish Mr. Brüls every success
in the further development of the company."
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