Canyon

Canyon operates in the attractive premium bike market, the long-term growth of which is driven by structural tailwinds:

• Increasing popularity of bicycles, especially in the premium segment where Canyon is positioned, as an environmentally-friendly mobility solution and to support healthy, active lifestyles 
• Ongoing customer adoption of e-bikes supported by technological advancement 
• Continued focus on the online Direct-to-Consumer (“DTC”) channel, with advantages in terms of price and choice, but also in response to consumers’ growing adoption of e-commerce

Canyon has become a true reference for sporting and performance bikes, supported by its drive for innovation:

• Strong positioning in its core European markets such as Germany, Benelux and the UK that have grown at a relatively high pace in the last years 
• Renowned performance heritage through successful partnerships with sports personalities such as Mathieu van der Poel, Fabio Wibmer, Valtteri Bottas, Kasia Niewiadoma and Jasper Philipsen 
• Solid management team, with founder Roman Arnold remaining invested as a significant shareholder alongside GBL and continuing his involvement as Chairman of the Advisory Board

Canyon has embarked on new initiatives with significant upside potential:

• Penetrating new markets, including US and China, supported by increasing brand awareness and the Direct-to-Consumer offering 
• Growing in e-bikes, with a focus on mountain bikes 
• Improving the customer journey through an omnichannel experience 
• Developing the sports gear offering