A quite disappointing Q4
At the end of December 2016, Euro-Cycles’ revenues reached TND12.6m, i.e. a 21% decrease compared to Q4 2015. The production volume dropped 6% to 91 million bikes. Thus, the company ended the year with a 7% increase in revenues, reaching TND80.2m vs. TND74.7m in 2015. The annual production rose by only 1% to 470 million bikes. Debts amounted to TND13m vs. TND9.3m a year earlier, i.e. a 44% progression, mainly pulled up by a medium and long term investment loan (intended to finance tangible investments in order to strengthen the storage capacity through building a new productive unit for kids’ bikes).
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