NCTE AG lowers forecast due to ongoing transition phase in the e-bike market

NCTE AG announces a downward adjustment of its revenue forecast for 2024 to a range between EUR 4.7 million and EUR 5.7 million (previously: “between EUR 6.0 million and EUR 8.0 million”). EBITDA is therefore expected to be between TEUR -750 and TEUR -100 (previously: “between a slightly positive result and EUR 1.0 million”).

The correction is due to the development in the e-bike market, NCTE’s strongest sales segment. As recent market analyses and reports relating to the leading Eurobike trade fair in 2024 show, the increase in production in the bicycle industry expected for the current financial year has not yet materialized.

In its balance sheet for the first four months of 2024, the ZIV (Zweirad-Industrie-Verband) sees e-bike sales in Germany slightly below the previous year, albeit from high stock levels. Production was 16% below the previous year’s level. Many e-bike manufacturers and dealers around the world filled their stocks during the coronavirus boom and in view of the growth potential. The consolidation phase is now taking longer than expected, which is also reflected in NCTE AG’s order intake.

Despite the challenges, the Management Board of NCTE AG remains confident about the long-term prospects of the e-bike market, especially in view of the trend towards CO₂-free mobility in cities. The ZIV expects a significant recovery in the bicycle industry in 2025 and points out that sales are still above pre-corona levels. NCTE AG will continue to take strategic measures to strengthen its position in the important e-bike segment.

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