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
• Continuous customer adoption of e-bikes supported by technological advancement and an ongoing shift toward e-bikes
• 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 sports 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 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, Manuel Neuer 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:

• Broadening the business outside of the large European bike countries, where Canyon bikes are in high demand
• Penetrating new markets, including US and China, where there is good traction driven by an increasing brand awareness and the unique DTC offering
• Growing in e-bikes, with a focus on sports such as mountain biking but also on urban categories, which is off to a promising start
• Improving the customer journey through an omnichannel experience
• Developing the sports gear offering