Revenue at Spain-based bicycle reconditioner Bike Ocasión rose by 22.7% year on year (y-o-y) to €7.5 million ($8.2 million U.S.) in 2022. However, the rate of growth slowed from the previous year (32.0%).

Moreover, the company swung from a net profit of almost €1.0 million in 2021 to a loss of €0.2 million last year. This was due to increased costs, with personnel costs up by 88% y-o-y in 2022, website CMD Sport reports, citing data from the Spanish government’s Mercantile Registry.

During 2023, Bike Ocasión opened a new 3,000-square-meter warehouse in the Catalan city of Terrassa, where it is based, and launched in France, where it operates under the Zyclora brand.

The company, which buys, reconditions and resells used bikes, is led by co-CEOs Borja Mesonero-Romanos and Juan Carretero. Both are managing partners at Madrid-based Taurus Capital, which acquired Bike Ocasión in June last year. 

Earlier this year, Mesonero-Romanos forecast that revenue at the company would increase by half in 2023.

Bike Ocasión’s main domestic rival is Valencia-based Tuvalum. 

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