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 5 April 2023 
 
 
 
 
 
 
 
 
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Pon Holdings successful with transformation to 
electric and digital 
● Great financial year with ten billion euro in revenue  
● Continued growth of e-bike, e-car, and e-equipment sales 
Amsterdam, 5 April 2023 – 2022 proved a historic year for Pon Holdings. The Amsterdam-
based, family-run multinational managed to continue its strategic transformation to electric 
bikes, cars, and machines successfully. Pon.Bike became a global player with the acquisition of 
Dorel Sports, while the Europcar take-over - in a joint venture with Volkswagen AG and 
others - resulted in a top position in European mobility. Pon’s agricultural cluster took further 
shape with the integration of URUS. The company also showed an excellent financial 
performance with its revenue exceeding ten billion euro for the first time in Pon Holdings’ 
history.  
All four business clusters performed well in 2022 despite turbulence caused by the after-effects of 
COVID-19, the war in Ukraine, the energy crisis and macro-economic challenges. Pon.Bike grew 
significantly thanks to the acquisition of Dorel Sports, as well as steadily growing demand for e-
bikes. The Automotive business also expanded, partly thanks to strong demand for electric cars. The 
Industrial Mobility cluster was divested to a large extent last year, illustrating Pon’s further 
withdrawal from the oil and gas industry. The Equipment & Power Systems cluster plays a 
significant part in the energy transition, among others, with the electrification of construction 
equipment and excavators.  
According to Janus Smalbraak, Pon Holdings’ CEO, “It was another year full of challenges, 
particularly outside our business. The economic impact of the crises around the world is clear but is 
eclipsed by the suffering of countless victims and their families in the Ukrainian war.  
Under difficult circumstances, we managed to realize an extremely good year with Pon, not least 
financially. Our power primarily lies in our excellent relationships with our partners, vendors, and 
customers— a big compliment to all our employees around the world. Pon has become a 
powerhouse with myriad high-end top brands, a family business operating in multiple industries and 
as many as sixty markets. Diversification is a major cornerstone of our success. We operate in 
virtually every part of the value chain, from production and assembly to sale, and from distribution 
to service and maintenance. Pon’s transformation doesn’t stop here. It’s all about electric and 
digitalization nowadays, and we clearly are ahead of the game in this area. Demand for 
environmentally friendly and sustainable mobility is high, and we are pioneers in this area.

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We have further expanded our automotive operations in the Netherlands, Germany, Vietnam, and the 
U.S., helped by growth in electric cars. The integration of Dorel Sports with Pon.Bike is proceeding 
apace, making us a global player with top bike brands and e-bikes. The big investments in bike 
infrastructure occurring primarily in Europe and the U.S. will give e-bike sales additional impetus in 
the future.  
In 2022, we celebrated the 75th anniversary of our partnership with the Volkswagen Group, the 
strength of which was confirmed by our joint acquisition of Europcar. We will be offering new forms 
of mobility under this brand in the near future.  
The economy is facing obstacles in 2023, once again, particularly in Europe and the U.S. The 
projected slowdownd will have an impact on us, too, as well as the parts supply that is still not up to 
speed in places. Even so, we began our year with full order books for Automotive, Bike, and 
Equipment & Power. Our portfolio of strong brands, our service level, and our excellent teams with 
fantastic and highly motivated people keep our business resilient.” 
2022 financial results 
Pon Holdings’ revenue rose to more than ten billion euros in 2022. The growth of 23% was the result 
of revenue increases across the board, acquisitions in Automotive and Bike, and divestments in 
Industrial Mobility. The company’s EBITDA rose to €1,045 billion (2021: €559 million), which 
includes €383 million worth of proceeds from divestments. At €547 million, our net profit was 
higher than ever (2021: €307 million). Pon’s workforce expanded to 15,700 (2021: 13,678). 
  
Pon Automotive’s continued growth 
As was the case for the entire automotive industry, Pon Automotive's year was shaped by a 
significant parts shortage that led to incidental production stops. This, for instance, was the main 
reason for the Dutch automotive market to drop to its lowest level since 1960. Demand remained 
high for all brands in the Pon portfolio. Audi’s market share grew, for instance. Drivers increasingly 
ask for electric cars, over one third of all cars sold through Pon is now electric. Pon Automotive 
remains the leading car player in the Netherlands and delivered one in five of all new cars in the 
Netherlands. 
 
During 2022, Pon Automotive acquired an interest in German automotive company Moll Gruppe, 
which has a brand offering similar to Pon’s in the Netherlands. In the U.S., Pon Luxury & 
Performance Cars opened three new Porsche dealerships. This business group did extremely well, in 
part due to rising sales of used luxury cars. Pon Automotive’s overall revenue grew to nearly 
€6 billion (2021: €5.2 billion).

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Rising demand for Pon.Bike’s e-bikes 
Last year, Pon.Bike went through huge growth, resulting in total revenues of €2.4 billion. This was 
due to a number of acquisitions, especially Dorel Sports, which turned Pon.Bike into a global player 
with an impressive range of top brands including Cannondale, Gazelle, Kalkhoff, Cervélo, and 
Urban Arrow. One highlight in 2022 was Jonas Vingegaard winning the Tour de France on a Cervélo 
bike. Pon.Bike’s e-bikes are in high demand: over thirty percent of all bikes sold through bike 
dealers are e-bikes. This growth is expected to continue internationally in the current year. Pon.Bike 
kicked off construction work on a state-of-the-art bike plant in Lithuania, which will produce around 
500,000 electric and other bikes per year. In addition to building and selling bikes, Pon.Bike also 
operates in parts and accessories as well as new services, such as leasing and subscriptions.  
 
Pon Equipment & Power Systems is part of the energy transition 
Pon Equipment & Power Systems operates at the heart of the energy transition, helping customers in 
a wide range of industries (including shipping, transportation, power supply and construction) go 
through that transition, while changing itself in the process. Divesting the Marine Engineering 
Company was part of this development, shifting Pon Power’s focus completely to selling and 
servicing Caterpillar engines. Pon Equipment & Power Systems’ revenue showed light growth to 
€1.2 billion (2021: €1.1 billion). Pon Equipment, which focuses on Caterpillar dealerships in the 
Netherlands and Norway, experienced higher demand for machines than it was able to deliver. Pon 
Equipment will further expand towards electric machines in the years to come, having already 
opened a dedicated plant in Norway. Pon Power is investing in solar energy and power microgrid 
initiatives, which can supplement national power grids. 
Digitalization in Agricultural Products & Services 
The global agricultural sector is characterized by digitalization, where the efficiency in managing 
and feeding livestock can be improved significantly. Further automation and data management will 
help the Agricultural Products & Services cluster respond to the need of feeding growing populations 
around the world, while reducing environmental impact. The Agricultural cluster faced challenges 
during 2022 in its main markets, Brazil and the U.S. Despite that, Agricultural Products & Services 
managed to grow its revenue to €422 million (2021: €400) .  
About Pon Holdings 
Pon Holdings is a leading family-run multinational based in the Netherlands. The company has 
15,700 employees in 34 countries on six continents. Its renowned brands and 112 businesses operate 
in four clusters: Automotive, Pon.Bike, Equipment & Power Systems, and Agricultural Products & 
Services. Pon Holdings’ ultimate goal is to ensure continued mobility for people, cities, and 
industries in an efficient and sustainable manner. In the Netherlands, Pon is the biggest mobility 
group, providing millions of people with bikes, cars, and mobility services every day. 
END OF PRESS RELEASE 
Jacques.geijsen@pon.com 
Attachments

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