Owners, management and financials
CVR: 38677470
Secondary names: United Cycling ApS, ARGON 18 Nordic ApS
Previous names: United Cycling ApS
DKK 44,411,000
Revenue
Net result: DKK -8,431,000
CYCLES ARGON-18 Inc. (100%)
CVR · view owners
Mark John Hewitt
Board: Henrik Lyngbye Pedersen (chair) and 1 member
CVR · view management
Active
Founded 31 May 2017
CVR · view overview
10 employees
CVR · 2018
Director role ended: Jan Sørensen
CVR · 01/07/2025
View the full event history
ARGON 18 Europe ApS is a Danish company of the type Anpartsselskab based in Lynge, founded in 2017. The company is registered under the industry Engroshandel med cykler, sportsartikler og lystbåde. The company was previously named United Cycling ApS. The management consists of Mark John Hewitt. The board consists of Henrik Lyngbye Pedersen (chair) and Francois Bastien. The company is owned by CYCLES ARGON-18 Inc.. The company has 10 employees (2018). In 2025, the company reported revenue of DKK 44,411,000 and a net result of DKK -8,431,000 compared with DKK -19,168,000 the year before. Equity in the 2025 report amounted to DKK -62,686,000.
Source: annual report 2025, Danish Business Authority
The financial health of ARGON 18 Europe ApS is concerning, marked by consistent losses and negative equity over the past five years. Revenue has shown a positive trend, increasing from 13.2 million DKK in 2022 to 44.4 million DKK in 2025; however, the company reported a significant loss of 8.4 million DKK in 2025. The equity position has deteriorated sharply, falling to -62.7 million DKK, indicating potential solvency issues. Despite growth in revenue, the lack of profitability and substantial negative equity raise significant concerns about the company's long-term viability in the competitive bicycle and sports equipment industry.
AI-generated summary · Generated 03/07/2026
Selskabets formål er at drive virksomhed med salg af varer og/eller ydelser relateret til sports- og fritidsaktiviteter samt andre aktiviteter, der efter bestyrelsens skøn har forbindelse hertil.
Source: annual reports filed with the Danish Business Authority.
| Period | Revenue | Profit/Loss | Total Assets | Equity | Employees | Report |
|---|---|---|---|---|---|---|
| 202501/01/2025 – 31/12/2025 | 44.4 mio. | -8.4 mio. | 42.2 mio. | -62.7 mio. | 13 | |
| 202401/01/2024 – 31/12/2024 | 39.7 mio. | -19.2 mio. | 38.3 mio. | -54.3 mio. | 13 | |
| 202301/01/2023 – 31/12/2023 | 28.3 mio. | -15.9 mio. | 43.7 mio. | -35.1 mio. | 14 | |
| 202201/01/2022 – 31/12/2022 | 13.2 mio. | -18.2 mio. | 42.1 mio. | -19.2 mio. | 9 | |
| 202101/01/2021 – 31/12/2021 | 18 mio. | -7.3 mio. | 9.5 mio. | -953 t. | 9 | |
| 202001/01/2020 – 31/12/2020 | 12.2 mio. | -10.6 mio. | 13.5 mio. | 6.3 mio. | 9 | |
| 201901/01/2019 – 31/12/2019 | 12.3 mio. | -10.8 mio. | 13.3 mio. | -17 mio. | 9 | |
| 201801/01/2018 – 31/12/2018 | 6.8 mio. | -10.8 mio. | 13.3 mio. | -6.2 mio. | 8 |
Compared to 265 companies in Engroshandel med cykler, sportsartikler og lystbåde
Comparison is based on industry median values
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Try the lead list generatorThe CVR number of ARGON 18 Europe ApS is 38677470.
ARGON 18 Europe ApS is owned by CYCLES ARGON-18 Inc..
The management of ARGON 18 Europe ApS consists of Mark John Hewitt.
The board of ARGON 18 Europe ApS consists of Henrik Lyngbye Pedersen and Francois Bastien, with Henrik Lyngbye Pedersen as chair.
In 2025, ARGON 18 Europe ApS reported revenue of DKK 44,411,000.
ARGON 18 Europe ApS had 10 employees in 2018 according to the Danish CVR register.
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ARGON 18 Europe ApS has published its annual report for 2025. Revenue came to DKK 44,411,000, and the net result was DKK -8,431,000.
As of December 19, 2025, Jan Sørensen has left the board of directors of ARGON 18 Europe ApS.
As of July 1, 2025, Mark John Hewitt is registered as director of ARGON 18 Europe ApS.
As of July 1, 2025, Jan Sørensen has stepped down as director of ARGON 18 Europe ApS.
ARGON 18 Europe ApS has published its annual report for 2024. Revenue came to DKK 39,667,000, and the net result was DKK -19,168,000.
As of November 11, 2024, Francois Bastien has joined the board of directors of ARGON 18 Europe ApS.
As of November 11, 2024, Martin LeSauteur has left the board of directors of ARGON 18 Europe ApS.
ARGON 18 Europe ApS has published its annual report for 2023. Revenue came to DKK 28,284,000, and the net result was DKK -15,894,000.
ARGON 18 Europe ApS has published its annual report for 2022. Revenue came to DKK 13,228,000, and the net result was DKK -18,241,000.
ARGON 18 Europe ApS has published its annual report for 2021. Revenue came to DKK 18,012,000, and the net result was DKK -7,299,000.
As of August 23, 2021, René Étienne Racine has left the board of directors of ARGON 18 Europe ApS.
ARGON 18 Europe ApS has published its annual report for 2020. Revenue came to DKK 12,203,000, and the net result was DKK -10,563,000.
As of January 13, 2021, Martin LeSauteur has joined the board of directors of ARGON 18 Europe ApS.
As of January 13, 2021, René Étienne Racine has joined the board of directors of ARGON 18 Europe ApS.
On January 13, 2021, the company changed its name from United Cycling ApS to ARGON 18 Europe ApS.
As of December 29, 2020, is registered as an owner of ARGON 18 Europe ApS with an ownership share of 100%.
As of August 4, 2020, Jan Sørensen is registered as director of ARGON 18 Europe ApS.
As of August 4, 2020, Peter Wainø has stepped down as director of ARGON 18 Europe ApS.
ARGON 18 Europe ApS has published its annual report for 2019. Revenue came to DKK 12,313,000, and the net result was DKK -10,796,000.
As of June 1, 2020, Peter Wainø is registered as director of ARGON 18 Europe ApS.
As of June 1, 2020, Jan Sørensen has stepped down as director of ARGON 18 Europe ApS.
As of January 20, 2020, Jan Sørensen is registered as director of ARGON 18 Europe ApS.
As of January 20, 2020, Nils Macheel has stepped down as director of ARGON 18 Europe ApS.
ARGON 18 Europe ApS has published its annual report for 2018. Revenue came to DKK 6,822,000, and the net result was DKK -10,773,000.
As of July 2, 2018, Nils Macheel is registered as director of ARGON 18 Europe ApS.
As of July 2, 2018, Peter Stefan Bengt Bixe has stepped down as director of ARGON 18 Europe ApS.
ARGON 18 Europe ApS has published its interim report for the period May 31, 2017 – December 31, 2017.
As of May 31, 2017, EY Godkendt Revisionspartnerselskab has been appointed auditor of ARGON 18 Europe ApS.
As of May 31, 2017, Henrik Lyngbye Pedersen has joined the board of directors of ARGON 18 Europe ApS.
As of May 31, 2017, Jan Sørensen has joined the board of directors of ARGON 18 Europe ApS.
As of May 31, 2017, Peter Stefan Bengt Bixe is registered as director of ARGON 18 Europe ApS.
ARGON 18 Europe ApS was founded on May 31, 2017.
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