Bicycle manufacturer Romet Group reports 40% sales boom

The pandemic gave a major push to sales of Polish manufacturer Romet Group. For this year the company expects to increase sales by as much as 40% from PLN 322 million (€70 mln) to PLN 450 million (€98 mln). The net profit (EDITBA) is expected to amount to as much as PLN 45 million (€9.8 mln) this year.

The booming sales reports of Romet Group are in line with the estimates published by the Polish Bicycle Association. According to a national media report, the industry organisation said that no less than 1.2 million bicycles were sold in Poland last year. The developments in Poland are in line with the other European markets. For 2020 Romet already reported a very fruitful year. Revenue increased to PLN 322.7 million (€70.2 mln) of which 46% was export related.

The privately owned company expects its sales to grow into 2022 by no less than 33% to PLN 600 million (€130 mln). “This year’s sales increase was particularly generated in cities with more than 100,000 inhabitants, where the most advanced and higher priced bicycles are usually sold,” said Romet Group vice president Grzegorz Grzyb.

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