{"id":147474,"date":"2017-03-30T11:04:52","date_gmt":"2017-03-30T11:04:52","guid":{"rendered":"https:\/\/www.welovecycling.com\/wide\/?p=147474"},"modified":"2017-03-30T11:04:52","modified_gmt":"2017-03-30T11:04:52","slug":"eddy-merckx-cycles-continues-lose-millions-euros","status":"publish","type":"post","link":"https:\/\/www.welovecycling.com\/wide\/2017\/03\/30\/eddy-merckx-cycles-continues-lose-millions-euros\/","title":{"rendered":"Eddy Merckx Cycles Continues to Lose Millions of Euros"},"content":{"rendered":"<p><strong>The sales went up last year again, 100% in comparison to 2014, but despite the best of efforts by the Eddy Merckx Cycles\u2019 management, the debt deepens. The company sold bicycles worth 9 million euros, but generated a loss of 5.7 million euros. The overall deficit amounts to astonishing 17 million euros.<\/strong><!--more--><\/p>\n<p>\u201cThe market for road race bikes dropped by 25 percent last year and a specialist in this category, we were hit unexpectedly hard. We were not able to compensate our decline in turnover in other bike categories as we are 100 percent dedicated to the road race market. Our turnover was stable, although we anticipated a growth in sales,\u201d Bart Van Muylder, CEO of Diepensteyn NV, said.<\/p>\n<figure id=\"attachment_147476\" aria-describedby=\"caption-attachment-147476\" style=\"width: 1800px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/d2p6e6u75xmxt8.cloudfront.net\/2\/2017\/03\/14612436_1134073720015240_3476052406424191849_o.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-147476 size-full\" src=\"https:\/\/d2p6e6u75xmxt8.cloudfront.net\/2\/2017\/03\/14612436_1134073720015240_3476052406424191849_o.jpg\" width=\"1800\" height=\"1235\" \/><\/a><figcaption id=\"caption-attachment-147476\" class=\"wp-caption-text\">43 years ago Eddy Merckx became the world champion for the third time.<\/figcaption><\/figure>\n<p>Diepensteyn NV took over the company from Eddy Merckx in 2014, and most of the 17 million euros debt was generated before that. It is largely attributed to the sponsorship of the Quick-Step Floors team, which ceased in 2012. Diepensteyn put over 27 million euros into the company last August. It might seem like bad business, but the management remains optimistic.<\/p>\n<p>\u201cWe are proud we have doubled our sales over the past two years and still believe in the future of Eddy Merckx Cycles,\u201d Van Muylder said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sales went up last year again, 100% in comparison to 2014, but despite the best of efforts by the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":147475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[329],"tags":[955,954,953],"global-categories":[],"class_list":["post-147474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-road-cycling","tag-bart-van-muylder","tag-eddy-merckx","tag-eddy-merckx-cycles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.3 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eddy Merckx Cycles Continues to Lose Millions of Euros - 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