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Accell Group NV (ACCG.AS)

ACCG.AS on Amsterdam Stock Exchange

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Latest Key Developments (Source: Significant Developments)

RPT-Accell group H1 net profit down at 26.3 million euros
Friday, 21 Jul 2017 01:51am EDT 

July 21 (Reuters) - ACCELL GROUP NV ::H1 ORGANIC INCREASE IN NET TURNOVER OF 3%, LARGELY ON THE BACK OF STRONG GROWTH IN THE SALES OF E-(PERFORMANCE) BIKES AND A STEADY INCREASE IN THE SALES OF PARTS AND ACCESSORIES (P&A).GROWTH WAS PRESSURED BY LOWER SALES IN NORTH AMERICA, THE NETHERLANDS AND TURKEY.H1 OPERATING COSTS WERE DOWN SLIGHTLY, DESPITE AROUND € 5 MILLION IN EXTRA COSTS FOR THE IMPLEMENTATION OF THE STRATEGY.H1 UNDERLYING OPERATING RESULT INCREASED SLIGHTLY.H1 NET PROFIT LOWER DUE TO IMPACT OF ONE-OFF NON-CASH WRITE DOWN OF € 3.8 MILLION ON TAX ASSET RELATED TO NORTH AMERICANOPERATIONS.IN 2017 EXPECT TO RECORD AN INCREASE IN TURNOVER AND AN UNDERLYING OPERATING RESULT AROUND THE SAME LEVEL AS IN THE SECOND HALF OF 2016 (€ 16 MILLION).H1 REVENUE EUR 634.0 MILLION VERSUS EUR 629.7 MILLION YEAR AGO.TURNOVER IN REGULAR BIKES LAGGED EXPECTATIONS IN VARIOUS COUNTRIES, IN WHICH MAINLY CONDITIONS IN NORTH AMERICA, THE NETHERLANDS AND TURKEY PLAYED A ROLE -CEO.H1 NET PROFIT EUR 26.3 MILLION VERSUS EUR 34.0 MILLION YEAR AGO.H1 UNDERLYING OPERATING RESULT EUR 59.3 MILLION VERSUS EUR 57.9 MILLION YEAR AGO.  Full Article

Accell Group appoints former Beter Bed Holding CEO Anbeek as CEO
Friday, 14 Jul 2017 11:44am EDT 

July 14 (Reuters) - ACCELL GROUP NV :ANNOUNCES APPOINTMENT NEW CEO‍​.INTENDS TO APPOINT TON ANBEEK AS CHIEF EXECUTIVE OFFICER (CEO).APPOINTS TON ANBEEK AS CEO AND CHAIRMAN OF BOARD OF DIRECTORS AS OF 1 NOVEMBER 2017.  Full Article

Accell Group discontinues talks with Pon Holdings
Tuesday, 2 May 2017 02:17am EDT 

May 2 (Reuters) - Accell Group Nv : :Accell Group discontinues talks with Pon Holdings.“Pon Holding’s offer does not sufficiently reflect the future value creation of Accell Group and the expected synergies" - interim-Chairman Of The Executive Board.Pon Holdings indicated on 29 April it wanted to raise its indicative offer with one euro to 33 euros ($36.04) - per share in cash (excluding the dividend of 0.72 euros for 2016).However, this increase did not significantly affect the assessment of the proposal.  Full Article

Accell Group appoints Hielke Sybesma, CFO, as interim CEO and interim Chairman of the Executive Board
Tuesday, 25 Apr 2017 02:13am EDT 

April 25 (Reuters) - Accell Group NV ::Confirms its full year 2017 outlook of an increase in turnover and operational results, barring unforeseen circumstances.Announces that turnover in the first months of 2017 is at the same level as in 2016.Appoints Hielke Sybesma, CFO, as interim CEO and interim Chairman of the Executive Board.  Full Article

Accell Group receives a non-binding offer from Pon Holdings
Tuesday, 11 Apr 2017 01:52am EDT 

Accell Group Nv : Receives a non-binding offer from Pon Holdings . The proposal concerns a public offer for all issued and outstanding shares of accell group at an indicative offer price of 32.72 euros ($34.64) per share in cash, including the 2016 proposed dividend of 0.72 euros . There can be no assurance any transaction will result from these discussions Further company coverage: [ACCG.AS] ($1 = 0.9446 euros) (Gdynia Newsroom) ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;)).  Full Article

Accell Group FY net income stable at 32.3 million euros
Friday, 10 Mar 2017 01:56am EST 

Accell Group NV : FY net income 32.3 million euros ($34.22 million) versus 32.3 million euros year ago . FY net turnover at 1.05 billion euros, up by 6 percent versus last year . FY operating result excluding one-off gains and charges 65.9 million euros versus 62.5 million euros year ago . Proposes optional dividend of 0.72 euros per share, to be paid out in cash or shares . Expects to see a continued increase in turnover and operational results in 2017, barring unforeseen circumstances . Targets the following medium-term (five-year) goals: net turnover up to 1.5 billion euros; EBIT-margin at a level of 8 percent; working capital of no more than 25 percent of net turnover; ROCE of more than 15 percent . The roll-out of the refined strategy to result in extra costs of 20 euros - 30 million euros in the next two to three years .Expects to see a rise in turnover and operational results in 2017.  Full Article

Accell Group H1 revenue up 10 pct at 629.7 million euros
Friday, 22 Jul 2016 01:57am EDT 

Accell Group NV : H1 revenue up 10 pct at 629.7 million euros ($694.2 million) . H1 net profit rose by 7 pct to 34.0 million euros (2015: 31.9 million euros) . H1 operating result came in at 52.4 million euros(H1 2015: 49.1 million euros) .For the second half of 2016, expect to record higher turnover and profit.  Full Article

Accell Group maintains FY 2016 outlook
Tuesday, 26 Apr 2016 02:07am EDT 

Accell Group NV:Maintains forecast for FY 2016 further increase in turnover and profit.  Full Article

Accell group sells SBS parts & accessoires in USA
Thursday, 31 Mar 2016 08:00pm EDT 

Accell Group NV:Sells USA parts & accessoires activities of Seattle Bike Supply (SBS P&A) to Hawley-Lamber.  Full Article

Accell Group NV confronted with theft in Taiwan - RTRS
Tuesday, 26 Jan 2016 07:51pm EST 

Accell Group NV:Accell Group recently discovered a serious case of financial theft by one of its employees in Taiwan - RTRS.Theft is expected to have an impact of a maximum of 4 million euros ($4.3 million) on Accell Group's net profit - RTRS.‍​ Still expects to report an increase in net profit in the second half of 2015 compared to the same period of 2014 - RTRS.  Full Article

BRIEF-RPT-Accell group H1 net profit down at 26.3 million euros

* H1 ORGANIC INCREASE IN NET TURNOVER OF 3%, LARGELY ON THE BACK OF STRONG GROWTH IN THE SALES OF E-(PERFORMANCE) BIKES AND A STEADY INCREASE IN THE SALES OF PARTS AND ACCESSORIES (P&A)