IN BRIEF
German retailer Bike24 sold €96.1 million worth of goods in the second quarter of 2026, up 20.1% on a year earlier, and its adjusted EBITDA rose 15.8% to €5.9 million. The growth comes from parts, accessories and clothing (+22.3%, to €78.9 million) far more than from complete bikes (+11.0%, to €17.2 million). The Dresden-based company says it grew in a market marked by intense price competition, confirms its full-year guidance — €318 million to €332 million — and has built its inventories up to €91.6 million to cover the second half.
| Revenue, Q2 2026 | 96.1 million euros (+20.1%; 80.0 million in Q2 2025) |
| Adjusted EBITDA, Q2 | 5.9 million euros (+15.8%; 5.1 million in Q2 2025) |
| Gross margin, Q2 | 26.3 million euros (+18.8%), i.e. 27.4% versus 27.7% |
| Net result, Q2 | 0.6 million euros (0.2 million in Q2 2025) |
| EBIT, Q2 | 1.6 million euros (0.9 million in Q2 2025) |
| Revenue, H1 2026 | 166.9 million euros (+20.8%; 138.1 million in H1 2025) |
| Adjusted EBITDA, H1 | 7.7 million euros (+35.7%), margin of 4.6% versus 4.1% |
| Net result, H1 2026 | −1.58 million euros (−3.97 million in H1 2025) |
| EBIT, H1 2026 | −0.97 million euros (−3.25 million in H1 2025) |
| Inventories | 91.6 million euros |
| Guidance for 2026 | 318 to 332 million euros in sales, 16 to 20 million in adjusted EBITDA |
While Accell is being broken up in an Amsterdam court and Cycles Lapierre looks for an investor in Dijon, one European bike player is posting 20% growth. It is a retailer: Bike24, an online sales platform for bikes, parts and accessories based in Dresden, published rising quarterly accounts on 12 August.
Bike24 grows 20% in a market under pressure
The press release describes the context itself: “Despite a challenging market environment characterised by intense price competition, the company increased its group revenue by 20.1% to €96.1 million”, the company writes.
Over the full half-year, growth is of the same order — 20.8% — and the company says operating expenses rose more slowly than sales, which sends adjusted EBITDA up 35.7%.
The half-year total nevertheless remains in the red, according to the press release: a net result of −€1.58 million, against −€3.97 million a year earlier, an improvement of €2.38 million.
According to the German trade publication Radmarkt, the company claims to have grown “significantly faster than the bicycle market” over this first half.
Parts are pulling the growth, not bikes
The category breakdown tells the essential story: according to the press release, parts, accessories and clothing are up 22.3% to €78.9 million, and complete bikes up 11.0% to €17.2 million.
In other words: parts account for more than four times the revenue of complete bikes, and are growing twice as fast.
The quarter’s adjusted EBITDA margin, on the other hand, slips slightly, to 6.1% against 6.3% a year earlier: the company says it “deliberately made additional investments in selected functions, including marketing and logistics”.
The local-language shop strategy
Bike24 splits its sales into four areas — the GSA region, localised markets, the rest of the European Economic Area and the rest of the world. As Radmarkt explains, “localised countries” are those where the retailer runs a shop in the local language.
“Localised markets were once again a key growth driver”, the company says: €21.5 million in the second quarter, up 29.7%, against €66.4 million for the GSA region (+17.2%). The press release adds the rest of the European Economic Area, at €7.4 million (+29.7%), and the rest of the world, at €0.85 million (−25.2%). At the end of June 2026, Bike24 extended its localised offering to Denmark and Slovenia, then launched an online shop in Ireland in July.
Inventories at €91.6 million and guidance maintained
One figure is worth noting in the current climate: inventories. Bike24 says it has “strategically increased its inventory levels to €91.6 million” to secure product availability in the second half.
The press release specifies that “the inventory-to-revenue ratio remained broadly stable at 28.8%, compared with 28.7%”: inventories grew at the same pace as sales, in a sector where post-Covid overstocking precipitated several bankruptcies. Bike24 turns it into a commercial argument: having the product when the customer is looking for it.
Looking ahead, the company is not budging: according to the press release, it confirms its 2026 guidance.
