Canyon's 2024 Revenue at €792M
[Micromobility Pro] Canyon reported €792m revenue and a €38m net loss in 2024, with continued pressure from oversupply, discounting, and e-MTB quality issues reducing its valuation to €520m by Sept.
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Contents
History: From Humble Beginnings to a Global Brand
Chart: History of Canyon Bikes
GBL Acquisition
2024 & H1 2025 Performance
Chart: Revenue, EBITDA & Market Valuation Chart
Canyon Group 2020 - 2021 Financials
Chart: Sales Revenue vs Net Income (2005-2021)
The Pandemic’s Impact on Performance and Strategy
Cash Flow & Inventory (2020-2021)
Liability Structure & Bank Debt
Canyon Bicycles Standalone Company Financials 2022 & 2023
Conclusion
History: From Humble Beginnings to a Global Brand
Founded in Koblenz, Germany, Canyon began in the 1980s as a small bike parts operation run by Roman Arnold, before evolving into a manufacturer known for precision-engineered performance bikes. The company built its reputation in road racing and mountain biking, later expanding successfully into gravel and e-bike categories.
A defining pillar of Canyon’s growth has been its direct-to-consumer (D2C) online model, allowing it to offer premium, competition-level bicycles at sharper price points than traditional dealer-based brands. Over time, Canyon has become one of the most influential modern bike brands globally, backed by world-class athletes, innovative product design, and a digitally-driven customer experience.
GBL Acquisition
In December 2020, Groupe Bruxelles Lambert (GBL) signed a definitive agreement to acquire a majority stake of roughly 50% in Canyon for €400m. As part of the transaction, GBL acquired the interest held by private equity firm TSG Consumer Partners, which fully exited its position. Founder Roman Arnold remained a significant shareholder and reinvested a large part of his proceeds alongside GBL.
Roman Arnold continued in the business, serving as Chairman of the Advisory Board rather than CEO.
At the time of signing, Canyon had grown to over €400m in sales (pre-deal) with an average annual growth rate of ~25% over the prior seven years.
2024 & H1 2025 Performance
