Electric scooter: Niu announces record results in 2019
Chinese electric two-wheeler manufacturer Niu reports that it earned more than 24 million euros in profit over the past year.
The relative leeway of older manufacturers in the electric two-wheeler segment benefits new entrants. Like Taiwan's Gogoro, Niu has specialized in electric scooters and has just reported new positive results over the last quarter and year.
Increase in turnover and profits
In the last three months of 2019, the Chinese manufacturer announced that it has sold over 106.000 electric scooters, up 13,5% over the same period in 2018.
On the financial side, Niu announces a turnover of RMB 536 million (€ 69 million), up 25,4% from the fourth quarter of 2018. Spin-off results: The fires are also green with a declared net profit. 60,7 million yuan, or about 9 million euros. Compared to a loss of RMB 32 million (€ 4,5 million) recorded in the last quarter of 2018, these results are very encouraging. This brings the company's gross margin in the fourth quarter of 2019 to 26,1%, up from 13,5% in the fourth quarter of 2018.
Sales grew 24,1% in 2019
Without giving exact numbers, the manufacturer reports that it increased its sales by 24,1% in 2019 compared to 2018. Its turnover, set at 269 million euros in 2019, also increased by 40,5% over the previous year.
Over the past year, the manufacturer has generated a net profit of 24,6 million euros and demonstrates that its electricity business model remains in place. With a presence in 38 countries around the world, the manufacturer continues to generate the majority of its domestic sales. In 2019, they accounted for 90,4% of turnover.
Bright prospects for 2020
If the COVID-19 epidemic affected the manufacturer's sales and activity at the beginning of the year, Niu remains confident in its ability to recover with new industrial capacity. “In December 2019, our new factory in Changzhou went into operation. The new plant covers an area of about 75 acres and has a nominal capacity of 700.000 units per year,” says one of the brand representatives.
2020 will also be marked by the expansion of the manufacturer's assortment. Niu officially announced its arrival in the tricycle and electric motorcycle segment earlier this year with two new models, the Niu RQi GT and the Niu TQi GT, due to hit the market in the next few years.
In terms of electric scooters, the manufacturer, in particular, is planning to launch the new Niu NQi GTS Sport, the 125 equivalent, capable of speeds up to 70 km / h. The first Niu electric bike, presented last November at EICMA, is also in the box.
