DGAP-News: MIFA presents new GRACE and Steppenwolf Group brand models at EUROBIKE
(firmenpresse) - DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Product
Launch/Miscellaneous
MIFA presents new GRACE and Steppenwolf Group brand models at EUROBIKE
29.08.2013 / 10:17
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MIFA presents new GRACE and Steppenwolf Group brand models at EUROBIKE
Sangerhausen / Friedrichshafen, 29 August 2013 - MIFA Mitteldeutsche
Fahrradwerke AG (WKN A0B95Y, ISIN DE000A0B95Y8), Germany's largest
manufacturer bicycles in terms of sales, is currently represented with its
GRACE and Steppenwolf brands at the EUROBIKE 2013 international bicycle
trade fair. The event is taking place between 28 and 31 August in
Friedrichshafen, Germany. EUROBIKE ranks as the world's largest bicycle
trade fair and is held every year. Traditionally, all important
manufactures and suppliers to the bicycle industry from around the world
are represented there in order to present their new models for the upcoming
season to specialist wholesalers and retailers and the interested general
public.
With the appearance of the two premium brands MIFA emphasizes its
acknowledged development and construction expertise. 'I am very pleased
with the feedback from specialist visitors,' describes Michael Hecken, head
of strategy and marketing at MIFA, his impressions of EUROBIKE. 'Feedback
on our brands' new models from various discussions with specialist dealers,
journalists and suppliers is extremely positive. This proves to me that the
course we are charting with our two specialist dealer brands is entirely
right.'
Steppenwolf, which has been a MIFA Group brand since August 2012, is
presenting its entirely overhauled model range and positioning itself as a
sustainable and durable brand offering the highest 'Made in Germany'
quality. Models from the mountain bike, trekking bikes, cross bikes and
Pedelecs come together to form the Steppenwolf portfolio. One of the
highlights of this model range is the Steppenwolf Tundra Carbon mountain
bike from its Hardtail series, an agile race bike with a light carbon frame
weighing in at just 1,200 g. The GRACE e-bike brand has expanded its model
range to include the entirely new MX II Urban and MX II Trail models, which
combine the new Bosch second-generation Performance Line motor system with
a highly integrated design. 'People's requirements of e-bikes are not only
rising - they are also becoming increasingly varied', explains Hecken. 'We
are taking this trend into account with our new models.'
Hecken also notes the entirely different preconditions for marketing when
acquiring both brands: 'While we have managed in the case of Steppenwolf to
bring a fresh shine to a well-known brand, with GRACE we have established a
newcomer as a trend brand in a niche of the e-bike segment - increasingly
also internationally.' For example, VIPs such as Prince Albert of Monaco
already rank among the proud owners of a GRACE e-bike. Hollywood star
Leonardo DiCaprio has also already been spotted with a GRACE e-bike. Pope
Francis recently received a 'smart e-bike' produced in Sangerhausen as his
new 'working bicycle'.
GRACE and Steppenwolf are both present with their own trade fair stands at
EUROBIKE. Hecken emphasises both premium brands' independence: 'MIFA offers
both brands a home, and coordinates central functions from which synergies
can be derived. As far as our market profile is concerned, however, it is
important to separately convey the brands' own identities since GRACE and
Steppenwolf address different target milieus with their models. We regard
ourselves as a 'House of Brands'.'
The development of 'model twins' also features as one of the synergies
between GRACE and Steppenwolf. The new GRACE MX II Trial model receives a
counterpart from Steppenwolf's e-bike series, the Steppenwolf GALVIN. Both
models were developed and produced on a joint platform. MIFA's head of
development, Karlheinz Nicolai, nevertheless qualifies this approach: 'The
opportunity arose with these models to develop 'model twins' as it was
compatible with the character of both brands. But this will remain more of
an exception than the rule in the future, since our objective is to tailor
our brands precisely to our customers' characteristics.'
Not least, the successful integration of GRACE and Steppenwolf into the
MIFA Group has resulted in MIFA reporting further year-on-year growth in
its consolidated revenue to EUR 82.6 million as stated in the recently
published results for the first half of 2013. This is the highest level of
half-yearly revenue since the company's IPO in 2004. The revenue growth
results from a marked increase in average sales prices and a rise in
e-bikes' share of consolidated revenue to 30 %.
About the company:
MIFA Mitteldeutsche Fahrradwerke AG, which is based at Sangerhausen in
Germany's Saxony-Anhalt region, is Germany's largest manufacturer of
bicycles in terms of sales. The company produces an extensive range of
bicycle models ranging from entry-price through to premium. The components
utilised in bicycle production are purchased from renowned suppliers and
assembled at the company's single production location in Sangerhausen.
Business here focuses on project-related manufacturing to order for large
retail chains and OEM (Original Equipment Manufacturer) customers. E-bikes
have also been produced since the 2011 financial year. MIFA produces the
e-bike for automotive manufacturer smart, Deutsche Post's bicycle fleet,
and supplies municipal lending systems with multi-user vehicles. MIFA
acquired Berlin-based e-bike manufacturer Grace and Bavaria-based cult
bicycle forging company Steppenwolf in 2012, thereby intensifying its sales
activities with specialist dealers. MIFA sells its bicycles primarily in
its domestic market in Germany. Further sales markets are located mainly in
Western Europe. Both the operating business and administration and
logistics are managed from the single production site in Sangerhausen.
MIFA sold 546,000 bicycles in the 2012 financial year (previous year:
644,000), generating EUR 111.3 million of revenue, representing a 10.7 %
increase compared with 2011 (EUR 100.5 million). E-bikes comprised 30.0 %
of total revenue (previous year: 12.5 %). After adjusting for acquisition
effects, the company generated adjusted operating earnings (EBIT) of EUR
2.9 million (previous year: EUR 4.6 million), and adjusted net income of
EUR 1.1 million (previous year: EUR 2.0 million). MIFA has been listed on
the stock market since May 2004. Its shares are traded in the Prime
Standard of the Regulated Market of the Frankfurt Stock Exchange.
Contact:
Mark Appoh
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Telephone: 0611-205855-21
Fax: 0611-205855-66
Email: appoh(at)cometis.de
End of Corporate News
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Language: English
Company: MIFA Mitteldeutsche Fahrradwerke AG
Kyselhäuser Straße 23
06526 Sangerhausen
Germany
Phone: 03464-5370
Fax: 03464-537251
E-mail: b.mirau(at)mifa.de
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
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