Bike24 Holding AG Reports Successful Q2 2024 with Return to Profitability

Bike24 Holding AG has reported a strong second quarter in 2024, showcasing a solid return to profitability and growth in sales. The company achieved an adjusted operating profit of EUR 2.7 million, a notable increase from EUR 0.6 million in the same period last year.

The growth was particularly robust in the DACH region, where sales increased by 8%, contributing to an overall sales growth of 1.5%, pushing total revenue to EUR 63.8 million. The Full-bike segment significantly aided this revenue increase.

Profitability per customer also rose by 28.5%, driven by higher gross margins and improved cost structures. The Parts, Accessories, and Clothing segment, comprising almost 80% of group sales, saw market prices ease, pushing the gross margin up by 1.8 percentage points to 27.7%.

Improvements in inventory management were evident, with inventory levels reduced to EUR 71.9 million from EUR 90.5 million a year ago, further enhancing profitability.

Despite a slight decline in sales over the first half of 2024, an operating profit of EUR 1.2 million was recorded, contrasting the operating loss of EUR 2 million from the previous year. CFO Timm Armbrust expressed satisfaction with the results and confidence for the rest of 2024.