The Netherlands-based parent of Raleigh and other bike brands said revenues tumbled 22% in 2024 to €1,009 million ($1,097 mm) from €1,294 million the year before and generated an EBIT loss excluding one-offs in line with 2023’s €13 million in red ink. The sales decline was driven by intense discounting, and EBIT included one-time charges for obsolete stock write-downs, restructuring costs, and a Babboe cargo bike recall. Despite these setbacks, CEO Jonas Nilsson stated that the company is seeing early signs of recovery following a recapitalization and debt restructuring that began ... Log in to view full article.