Orbea recently held its General Assembly, confirming the consolidation of a business project that has doubled the number of jobs in the past four years, now exceeding 1,000 employees, 80% of which are generated in the Basque Country.
Talking about the economic climate, and business challenges it faces, the shared announcement highlights: “Once again, the sector has experienced an extremely unstable context where excess supply and the search for liquidity forced brands to make widespread discounts, critically deteriorating margins and, in many cases, questioning the sustainability of businesses.”
In this context, Orbea points out it has “remained true to its principles”, launching new products “widely recognised by the most important independent media in the sector” whilst also continuing to “work hand in hand with distributors to overcome a truly difficult situation for the industry”.
Managing challenges and making a plan work
Constant, close monitoring of a “prudent and responsible sales plan” enabled Orbea to close the 2024 fiscal year with a moderate decrease in revenue of 8% compared to 2023.
This came with minimal impact on margin, resulting in figures aligned with the average of the last four years.
The business points to these figures and this performance, stating, “It is considered an extraordinary closure”.
Resources generated will allow the brand to “confidently tackle the strategic improvement projects planned, including expanding manufacturing and logistics capacities, as well as developing new technologies and training the people who are part of the brand”.
In addition, it should be noted that nearly 20% of these results are allocated to the different solidarity and social action funds designated by the cooperative.
Orbea Foundation is born.
The Orbea Foundation, an organisation that aims to generate a positive impact on society by supporting initiatives that promote change and sustainability through the transformative power of the bicycle, was formally established at this Assembly. The business will soon share more details about Orbea Foundation.
2025 and beyond
2025 points to a change of trend in the sector, where the most optimistic projections estimate some stabilisation in the second half of the year. In any case, Orbea will continue working very closely with its main allies: the distributors.
The brand will continue its effort to be more globally recognised alongside different structures with which it collaborates closely: Lotto, Orbea Fox Factory Team, and the new Orbea FMD Racing will allow it to continue to enhance the brand’s visibility and develop the most advanced products.
Beyond that, the business states its “doubling efforts in the urban category with new products that will arrive this summer.”
