10 May, 2024

Walking with a FIRM STEP

Our dedication to urban mobility, the latest iteration of the iconic Rise, and partnerships with teams like Lotto Dstny allow us to face future challenges with confidence and commitment.

 

Mallabia.

 

On May 4, we held our General Assembly where we confirmed the successful execution of our business strategy that has doubled our workforce over the past three years—surpassing 1,000 employees, 80 percent of which generate employment in the Basque Country.

The turbulent conditions of 2023 were characterized by market instability, excess supply due to overconfidence during the Covid pandemic, and widespread discounting among the industry that has critically affected prices, margins and business sustainability.

 

Nevertheless, we have remained steadfast in our principles by launching new products that have garnered acclaim from industry-leading media outlets and focusing closely on our distribution efforts to overcome challenging market dynamics.

 

Vigilant monitoring and a prudent sales strategy have enabled us to close the year with a 6.4 percent decrease in our turnover but with minimal impact on our margins, yielding results in line with the average of our last three years and surpassing industry standards.

The increase in financial resources have enabled us to pursue future initiatives and projects, including expanding manufacturing and logistics capabilities, developing new technologies, and investing in employee development. Notably, we allocate nearly 20 percent of these resources to various unity and social action funds that are mandated by the cooperative.

As 2024 unfolds amidst similar market conditions, with some optimistic projections of market stabilization at the end of the year, we remain vigilant, collaborating closely with our strong distribution partners.

 

Additionally, we’re doubling down on global recognition. Partnerships with teams like Lotto Dstny have elevated our presence on the World Tour, and important product launches have the potential to energize the market.

Such is the case with the recent launch of Diem, our commitment to urban mobility; the debut of a new Rise, the model that has revolutionized the category of light electric bikes; and other innovations on the horizon that reaffirm our position as an industry trailblazer.

NON-FINANCIAL INFORMATION STATEMENT 2023

Below you will find the “Non-Financial Information Statement” document for the year 2023 of our brand. In it, we present information on the impact of our organization’s performance regarding five issues: Environment, Society, Human Rights, Employees, and Anti-Corruption.