Brompton Bicycle Reports 99% Profit Decline as Cycling Industry Faces Crisis

The folding bike maker cites excess stock, rising costs, and competition from cheaper alternatives for its sharp financial downturn in 2024.

Brompton's pre-tax profits plummeted from £10.7 million in 2023 to just £4,602 in 2024, attributed to reduced demand and industry-wide challenges.
The company sold 8.2% fewer bikes in 2024, with total sales declining to 84,899 units and revenue dropping by 5.3% to £122.6 million.
Excess inventory and heavy discounting by competitors, along with rising operating costs, have pressured profitability across the global cycling sector.
Brompton delayed plans for a new £100 million headquarters in Kent and withheld dividends to shareholders to manage costs during the downturn.
Despite challenges, Brompton has focused on higher-end models and remains optimistic about long-term growth as urban cycling infrastructure expands worldwide.