on CIBOX (EPA:CIB)
CIBOX Performance and Projects in the First Quarter of 2024
CIBOX, a specialist in electric micro-mobility, recorded remarkable growth of 67% in the first quarter of 2024, with a turnover of €1.3 million. This progression is confirmed as a positive signal for the current year. Furthermore, the company announced a delay in the commissioning of its first production line in Revin, now scheduled for the end of the 2nd quarter, due to delivery delays and the geopolitical context.
In 2023, CIBOX launched new product lines focused on durability, ease of use and accessibility. The company continues to innovate with advanced technology electric bikes and scooters. In addition, it has entered into a collaboration with DAKARTM for co-branded products until 2027.
The company has also expanded its presence in major international marketplaces, thereby increasing the distribution channels for its bikes and scooters. This strategy helped diversify revenues and strengthen the direct digital sales channel which now represents 36% of total sales in Q1 2024.
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