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Cycling Weekly
Cycling Weekly
Sport
Anne-Marije Rook

Among market turmoil, Colnago boasts €55 million in sales: CEO shares the brand’s secret

Colnago Tadej Pogacar Cycling Weekly United States
Colnago's Gioiello road bike is a C68 frameset with a special edition gold paint scheme.

In a market riddled with economic uncertainty, Italian bicycle manufacturer Colnago bucks the trend with standout financial success.

The company's 2023 financial statements, shared with Cycling Weekly, reveal noteworthy figures: sales soaring to €55,715,101 in 2023 –which is a 33% from the previous year– and an EBITDA (the operating profit before deductions) of €14,015,100. The company's net profit has surged by an impressive 152%, indicating a significant growth trajectory for the company, which has tripled its growth since the brand's acquisition by new majority stakeholders, the UAE-based Chimera Investments LLC, in 2020.

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