Colnago is going against the current market and is selling more than before

Colnago continues its upward trend since it was acquired by the Royal Group investor from Abu Dhabi in 2020. A few days ago, they held their annual general meeting where the brand announced sales valued at over 55 million euros and a profit before taxes and fees of 25.15%.

Colnago triples its sales in three years

Colnago's annual general meeting of shareholders has just approved the accounts for 2023, which show spectacular numbers that only confirm the upward trend of the Cambiago-based company. Sales of 55,715,101 euros and an EBITDA of 14,015,100 euros, which represents 25.15% of the revenue.

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These numbers confirm the company's growth trend since the majority of Colnago's shares were acquired in 2020 by the Royal Group investor. The figures presented for the 2023 fiscal year triple the revenue from 2020, at a time when the bicycle market seems to be contracting after the post-pandemic boom.

This positions Colnago among the leading brands in the cycling market in the year the brand celebrates its 70th anniversary. "Our mission is to be the most desired bicycle brand in the world. At this moment, we believe we are on the right path," declared Nicola Rosin, CEO of Colnago.

Rosin also spoke about the importance of sponsoring both the male and female UAE teams, "they raise the level of demand and stimulate us to improve our products daily, but in a healthy way. A harmonious direction that allows us, as executives, to carry out our work in the most serene way possible. It is something that is really worth it," stated the brand's leader with satisfaction.