Update on the activity and the industrial project
Growth of 67% in the first quarter
April 17, 2024.
CIBOX, a French expert in electric micro-mobility, provides an update on its activity and its industrial project in mid-April.
Delay and first assemblies on the Revin industrial site
Initially planned for the end of the first quarter of 2024, the commissioning of the first production line in Revin will finally be effective at the end of the 2
th
quarter 2024. This delay is explained by the delayed delivery of production machines in a contrasting geopolitical context as well as by the postponement of certain customer projects.
In view of the 2022 and 2023 results, CIBOX is reviewing its investment and industrial process integration plan. In 2024, the Company will focus on certain parts of bicycle production: complete assembly, wheel assembly and preparation of the electronic part on the Revin site.
To date, the first assembly line for manufacturing wheels, management tools as well as electronic programming is ready to operate.
The manufacture of battery packs has, for its part, been postponed to the beginning of 2025. The manufacture of frames and the associated paint lines should follow the same year.
However, production for ZX Power and other major accounts will begin in the second half of 2024 subject to the lifting of administrative elements currently being finalized and the establishment of a supply chain organization with its customers and suppliers.
As a result, CIBOX is revising its annual production to 15,000 bicycles for 2024.
Launch of new products focused on sustainable mobility
At the end of 2023, CIBOX launched new product ranges focusing on 3 disruptive areas in the electric micro-mobility market:
Durability with 5-year warranties and ease of maintenance and repair
Ease of use thanks to enhanced connectivity via a dedicated application
Better accessibility with first prices starting from €250.
The company intends to continue to develop its YEEP.ME brand through the marketing of its first 2 bicycle models assembled in Revin. A new range of scooters should also see the light of day in June 2024: the all-terrain SUV road scooter in collaboration with the DAKAR
TM
. More generally, CIBOX has concluded an agreement with DAKAR
TM
for co-branded products until 2027.
An encouraging first quarter of 2024
After a year of transition in 2023, CIBOX is starting 2024 with good momentum. At 1
er
quarter 2024, turnover reached €1.3 million, an increase of 67% compared to Q1 2023. This growth is encouraging and helps to reinforce the objective of sustained growth for the coming months, in particular over the key periods from April to July and the end of the year.
Beyond the favorable basis of comparison compared to the same period of 2023, this growth is explained by:
Good momentum in the direct digital sales channel (YEEP.ME website and market places). This channel represented 36% of sales in Q1 2024 compared to 8.5% of sales for the whole of 2023;
An expansion of listings carried out in December 2023 to around twenty products on major marketplaces in France (Décathlon, Cdiscount, Boulanger, etc.), in Spain, Belgium and Portugal. These resale sites have integrated the new CIBOX ranges: bicycles, scooters, balance bikes and accessories.
To support its activity, CIBOX intends in 2024 to strengthen, through its partner marketplaces, the contribution of its international sales in new countries such as the Netherlands, Germany and Italy.
On the mass distribution channel (historical segment of CIBOX), the Company has joined forces with the wholesaler
Mobility France
which allows it to offer its scooters and accessories in numerous brands. This partnership will be extended to bicycles from the second quarter of 2024.
The French expert in electric micro-mobility has also signed a referencing agreement for its new ranges with purchasing centers. The first deliveries were initiated in the first quarter and will continue over the coming months.
On April 23, 2024, CIBOX will announce its 2023 results, which will logically be impacted by the drop in the level of activity and the voluntary investments made in this transition year. In order to secure the company in its next stages of development and its latest industrial investments, the search for new financing continues.
Next meeting: 2023 annual results on April 24 after market closing
Find all the information on: www.ciboxcorp.com
About Cibox
Created in 1995, Cibox is a French technology company specializing in consumer electronic products. Over the years, Cibox has acquired extensive experience in the design of technological products that meet the expectations of consumers and distributors.
Today, the offer is mainly structured around a range of electric micro-mobility products (scooters, electrically assisted bicycles, accessories). Our job is to design, manufacture and maintain soft mobility products and services for journeys of 3 to 30 km, whether personal or professional. In order to promote its innovative solutions, Cibox has developed its product brands (Scooty and yeep.me).
In 2023, CIBOX achieved a turnover of €4.9 million.
The CIBOX share is listed on Euronext Growth Paris (ALCBX – FR0000054322). She is eligible for PEA and PEA-PME.
Contacts
|
CIBOX [email protected] |
Financial press Michael Scholze [email protected] |
Investor Relations Foucauld Charavay [email protected] +33 6 37 83 33 19 |
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