Swiss E-Mobility Group gives steady growth outlook
Zurich, 28th of January, 2021
Under the umbrella of the Swiss E-Mobility Group AG (SEMG), the e-bike retailer m-way AG and the e-bike wholesaler Colag AG previously operated as independent companies. Now they have been merged to form Swiss E-Mobility Group (Schweiz) AG. The brand names are retained. The new company now has 125 employees and has its new joint headquarters in Zurich’s up-and-coming Binz district.
Thanks to the enormous increase in demand for e-bikes and various digital initiatives, an increase in turnover was recorded in the 2020 financial year that ended on 31 December – despite shop closures during the peak season in spring and the corona-related challenges in the distribution chain and logistics. Specifically, SEMG (Schweiz) AG generated sales of CHF 49 million. Added to this is a turnover of CHF 9 million in Germany. Here, Colag E-Mobility GmbH, which belongs to SEMG Holding, sells its products mainly online. The total SEMG turnover in 2020 thus amounted to CHF 58 million.
Turnaround through disciplined cost control
In addition, the turnaround of the e-bike retailer m-way, which SEMG acquired from Migros in autumn 2019, was successful in Switzerland. «Thanks to very disciplined cost control and over 10,000 e-bikes sold, m-way was in the black in 2020,» says Simon Lehmann, Chairman of the SEMG Board of Directors. Online sales tripled compared to 2019.
«For 2021, we also expect strong e-bike demand and again sales growth in the clear double-digit percentage range,» says Reto Waeffler, CEO of SEMG since October 2020. On the profit side, too, another significant step forward is to be made in 2021. «In addition, we are constantly looking for capable and motivated employees, which we consider particularly positive news in the current economic situation.»
New channels, new shop formats, expansion in Germany
«By merging the Swiss companies, we are creating synergies and can serve our B2C as well as B2B partners even more competently from a single source,», explains CEO Waeffler. For example, product management, purchasing and logistics have been placed under one management. “Likewise, we are consistently pursuing the path to becoming a fully comprehensive omni-channel provider for two-wheeled e-mobility.” This includes the integration of new e-commerce technologies and optimisation of the 32 m-way branches currently in operation. New shop formats are planned for 2021, with an expansion of space, test options, advice and service capacities. New services in areas such as financing and home service will also be added. In addition, a first retail store is to open in Germany in 2021 and a new e-commerce platform is to be established.
