Accell Group : 1H 2021 Preview: Solid results but hampered by supply chain issue
>Solid 1H 2021 results, hampered by supply chain issues - Although we assume Accell will be better placed to deal with the supply chain issues plaguing the European bike market because of its elaborate planning process, importance to suppliers (due to its sheer size) and its ability to source alternatives if necessary, we do assume Bike sales will be hampered. We forecast organic growth of 4.8% YoY (sales of € 709m, 1H 2020 €677m), driven by P&A and to a lesser extent...Accell Group NV is a holding company active in the bicycle market, based in the Netherlands. The Company and its subsidiaries divides its business into two segments: bicycle & bicycle parts, active in the design, development, production, marketing and sales of bicycles, bicycle parts and accessories; and fitness, providing fitness equipment for home market. It offers bicycles under the Batavus, Carraro, Ghost, Haibike, Koga, Lapierre, Loekie, Nishiki, Sparta, Staiger, Torker Bicycles, Tunturi, Van Nicholas, Winora, XLC and Raleigh brands, which are sold via specialist bicycle retailers, as well as bicycle parts under the Juncker and E. Wiener Bike Parts brands, and fitness equipment under the Tunturi brand. The Company's main markets are the Netherlands, Germany, North America, and European countries. The Company has production facilities in the Netherlands, Germany, France, Hungary, Turkey and China. It operates through over 20 wholly owned subsidiaries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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