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Athens Macedonian News Agency: News in English, 16-12-30

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

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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