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Athens Macedonian News Agency: News in English, 16-12-30
CONTENTS
[01] Greek bicycle market continue shrinking
[01] Greek bicycle market continue shrinking
The Greek bicycle market continued shrinking for the fifth successive
year in 2015, with bicycle sales totalling 185,000, down 7.0 pct from
the previous year, for an accumulated decline of 43 pct in sales in
the last four years, a period during which the market lost around 60
pct of its value, a survey by Infobank Hellastat said.
Alexis Nikolaidis, Economic Research & Sectorial Studies Senior Analyst,
said that sales in the first few years of economic recession soared to
more than 300,000 units annually, with the average use of bikes rising
significantly. However, a prolonged deterioration of economic conditions
began affecting the domestic bike market.
Manufacturers said that demand rose in after sales service in the last
few years. Greek bicycle manufacturers' production was 103,000 units in
2015, down 4.6 pct from 2014, with the domestic production market share
rising to 56 pct from 41 pct five years ago (in volume).
Antigoni Ambelakioti, Customer Support Manager at Infobank Hellastat,
said that a precondition for the recovery of the sector was an improvement
of economic conditions on a permanent basis and noted that the use of
bicycle, although it has risen significantly, still has positive outlook
as its penetration in Greece remained lower compared with other countries.
Infobank Hellastat analyzed the financial reports of nine bike
enterprises. Accumulated turnover fell 9.3 pct in 2014 to 34.77 million
euros, EBITDA rose 6.0 pct to 3.0 million euros and pre-tax earnings
totaled 1.3 million from a loss of 70,000 euros in 2013. EBITDA margin
grew by two points to 7.4 pct.
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