The pace resumes but still lower than expected
During Q1 2017, Euro-Cycles’ revenues reached TND21.828m vs. TND19.924m in the same period last year, i.e a 10% yoy growth. The production volume increased by 5% to 119,161 bikes. The company’s capex declined by 25% to TND606m. These investments correspond mainly to the construction of a new production unit (children bikes) and the completion of new offices for the staff. Q1 2017 debt was up by 5.6%(compared to 31/12/2016) to TND14.177m.The dividend was set at TND1.4 vs.
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