Page 1


2

Financials (Euro thousands)

20041

20051

2006

Total Revenues

72,819

109,491

120,941

EBITDA

29,317

40,680

53,263

Adjusted EBITDA

29,317

40,680

42,0602

Adjusted Profit from Operations

21,771

30,770

29,9082

Net Profit for the Period

18,021

26,637

20,705

No. of Shares

na

100,806

9,229,400

Total Assets

na

250,569

249,025

Total Equity

na

3,186

76,950

na

Total Borrowings

173,518

136,171

na

183,200

114,157

16,150

11,042

5,265

Adjusted EBITDA Margin

40.3%

37.2%

34.8%2

Adjusted Operating Profit Margin

29.9%

28.1%

24.7%2

Net Profit Margin

24.7%

24.3%

17.1%

CAPEX as % of Revenues

22.2%

10.1%

4.4%

37,142

51,267

54,159

311

312

327

CZK/ Euro average

31.904

29.784

28.343

CZK/ Euro EOP

30.400

29.005

27.495

Net debt/ (Net cash balance) CAPEX

CD Presentation

Table of Contents

2006 Key Figures

1

About the Company

2

2006 Key Figures

3

2006 – A Year of Outstanding Performance

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

page 10

page 4

4

Statement from the Chief Executive Officer

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

page 14

5

Investor Information

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

page 16

6

Board of Directors Report on Business Activity

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

page 8

page 18

6.1 Description of the Company Business and Market | 6.1.1 Overview of the Nonwoven Market | 6.1.2 Description of Company’s history and business | 6.1.3 Overview of Company’s Products | 6.2 Technology and Production | 6.2.1 Technology | 6.2.2 Production Process | 6.3 Plants and Premises | 6.4 Customers | 6.5 Suppliers | 6.6 Quality Management and Environment | 6.6.1 Quality Management System | 6.6.2 Environmental Management System | 6.7 R&D | 6.7.1 Development and Technical Support | 6.7.2 Intellectual Property | 6.8 Strategy | 6.8.1 The Company’s Strategy and Outlook | 6.9 Human Resources | 6.9.1 Employees | 6.10 Comments on Financial Results | 6.11 Czech Investment Incentives

7

Ratios

Corporate Governance

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page

39

7.1 Organizational Structure and its Development | 7.2 Board of Directors | 7.3 Remuneration of directors and management | 7.4 Corporate Governance | 7.5 Risk Factors

8

Consolidated Financial Statements and Notes to the Financial Statements, Independent auditor’s report

Operations Total Production Output (in tonnes net of scrap) Number of Employees - End of Period (EOP)

. . . . . . . . page

69

8.1 Independent Auditor’s Report | 8.2 Consolidated Statement of Income for the Year end December 31st | 8.3 Consolidated Balance Sheet as at December 31st | 8.4 Consolidated Cash Flow Statement for the Year end December 31st | 8.5 Consolidated Statement of Changes in Equity for the Year end December 31st, 2006 | 8.6 Notes to Consolidated the Financial Statements | 8.6.1 General Information and Definition of the Consolidated Entity | 8.6.2 Basis of Preparation | 8.6.3 Summary of Significant Accounting Policies | 8.6.4 Financial Risks | 8.6.5 Notes to the Consolidated Financial Statements | 8.6.6 Related Parties transactions | 8.6.7 Contingencies and Commitments | 8.6.8 Material Subsequent Events

9

Other information

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

page 100

9.1 Basic Information on the Company

3

2 9

+

CD

Directors

John Halsted

František Klaška

Bernhard W. Lipinski

František Rezác

David Ring

CEO

CFO

Non-Executive Director

Non-Executive Director

Commercial Director

Non-Executive Director

Mr. Gerža is the Chief Financial Officer of PEGAS Group. Mr. Gerža joined PEGAS in 1999, after having worked for 5 years in Danzas, a freight forwarding company. He was promoted to his current position in 2000. Mr. Gerža is a graduate of the Prague School of Economics.

Mr. Gregson was appointed a director of PEGAS Group in December 2005. Mr. Gregson is currently a partner of Pamplona Capital Management, LLP which advises the General Partner of the Pamplona Capital Partners I, LP. Prior to helping found Pamplona Capital Management, LLP, Mr. Gregson was a director at Royal Bank Equity Finance and before that a partner at Phildrew Ventures. Mr. Gregson holds a Bachelor of Science in Civil Engineering from the University of Bristol and an MBA from Harvard Business School.

Mr. Halsted is the Managing Partner of Pamplona Capital Partners, LLP which he co-founded in September 2004. Prior to joining Pamplona, he served as a Senior Vice President of Beacon Capital Partners, a real estate investment firm with operations in the United States and Europe. Previously he was a Vice President of the Harvard Private Equity Group, the private equity investment arm of the Harvard University endowment. Mr. Halsted holds a Bachelor of Science in Economics from the University of California at Berkeley and an MBA from Harvard Business School.

Technical and Development Director

Non-Executive Director

Mr. Bogdan is the Chief Executive Officer and a director of PEGAS Group. Mr. Bogdan has been with PEGAS for 11 years, starting as a plant director in 1995. Before joining PEGAS, he worked as the Production Director in UNEX, a specialized engineering company. He was named Chief Executive Officer in 2000. Mr. Bogdan is a graduate of the Czech Technical University.

Bernhard W. Lipinski joined PEGAS Group as an advisor in January 2006. He spent 33 years with BP Chemicals in Düsseldorf, Geneva, Antwerp and London. He managed BP Amoco’s Film & Nonwovens business focusing on hygiene and relevant industrial markets until its divesture to RKW in 2002. Mr. Lipinski served as non-executive director to RKW, Germany, and Verdugt, the Netherlands.

Mr. Řezáč joined the Company in 1996. He was promoted to his current position of Commercial Director of PEGAS Group in 2004, after having worked as the HR Director and Legal Counsel. Mr. Řezáč is a graduate of the Law Faculty of Masaryk University Brno.

Mr. Ring is currently Chief Executive of the A&P Group, the UK’s leading shiprepair and conversion company. Prior to joining A&P in 1999, Mr. Ring held senior positions in the aerospace and automotive industry. Mr. Ring holds a BA in Economics from the University of Lancaster.

Corporate Governance

7.1

Organizational Structure and its Development

The diagram below represents the structure of the Group immediately prior to the merger between PEGAS NONWOVENS s.r.o. and PEGAS a.s.: PEGAS–NT a.s. The Czech government granted PEGAS-NT a.s. the following investment incentives in its decision of July 2002: l

full corporate income tax relief for up to a 10 year period

l

a job creation grant in the amount of CZK 5.4 million.

The total amount of the incentives cannot exceed 45% of the investment, which is currently equal to CZK 375.0 million; and in any case cannot exceed CZK 509.9 million. PEGAS-NT a.s. started making use of the incentives in fiscal year 2005. PEGAS - NW a.s. PEGAS - NW a.s. obtained its investment incentives based on the decision of the Czech government on June 10th, 2005. The incentives consist of corporate income tax relief for up to 10 years. The tax relief may not exceed 48% of the invested amount (equal to CZK 1.075 bln), and in any case cannot exceed CZK 573.6 million. PEGAS - NW a.s. is planning to start making use of this incentive in 2008.

Corporate Governance

Mr. Klaška has been with the Company since 1991, having previously worked for 5 years in Zbrojovka Brno, a diversified engineering company. He was promoted to his current position of Technical and Development Director of PEGAS Group in 2001. Mr. Klaška is a graduate of the Czech Technical University.

7

*except for one share in PEGAS a.s. held by the Company

39

Henry Gregson

Corporate Governance

Aleš Gerža

38

Miloš Bogdan

44

Table of Contents

Board of Directors Report on Business Activity

Board of

Development of Company’s Indebtedness in 2006 Production

On November 27th, PEGAS launched an Initial Public Offering of its shares at a price of Euro 27 per share. The IPO consisted of the offer of 5,042,750 shares in total, including a Primary Offering of 1,810,000 shares and a Secondary Offering of 3,232,750 shares which were offered by the selling shareholder Pamplona Capital Partners I, LP. The IPO was highly successful and PEGAS received strong market support, which was demonstrated by the significant oversubscription for shares and pricing at the top of the offer range.

Although the Company did not install any new production equipment in 2006, the Group was able to increase total output by 5.7% from 51.3 thousand tonnes in 2005 to 54.2 thousand tonnes in 2006 owing to improved production efficiencies.

TOTAL OUTPUT YEAR END 2004 – 2006 CAGR: 20.8%

13

The new production line is currently under construction and is due to enter service in the fourth quarter of 2007. The construction of the building which will house the new line started in October 2006, in March 2007 installation of the line itself began. It will be the Company’s eighth line and will enable a rapid increase in production capacity from the current 54.2 thousand tonnes per annum to approximately 69 thousand tonnes per annum in 2008 (based on current production basis weights). The line will also allow the Company to increase the proportion of its sales which are specialty products.

2006 – A Year of Outstanding Performance

In the fourth quarter of 2007, PEGAS is planning to install its new eighth production line, which is expected to have an annual production capacity of approximately 15 thousand tonnes (based on current production basis weights) and will be able to produce ultra-lightweight nonwovens. This will also permit a more effective utilization of our bicomponent lines which currently produce both bicomponent and mono-component materials.

12

20

Following the installation of the second production line in 1996, the Company tripled its production capacity and began concentrating its operations in the hygiene market. From 1996 onwards, the Company continued to expand its capacity, by acquiring technologically advanced production equipment which combined spunmelt and meltblown technologies. In 2002, the Company introduced BiCo production technology, reinforcing its strong European market position in manufacturing specialized nonwoven textiles. In 2003, another of the production lines was equipped to enable the production of BiCo nonwovens.

Initial Public Offering

New Production Line

2006 – A Year of Outstanding Performance

PEGAS a.s., the predecessor of PEGAS NONWOVENS s.r.o, the main trading entity of the Group, was established in 1990. It soon developed into a producer of nonwoven textiles based on polypropylene, which has remained its core activity. In 1992, the Company installed its first production line for nonwoven textiles using spunmelt technology, supplying customers mainly in the agricultural industry. During this time, the Company began to develop its technological expertise in nonwoven textile production, benefiting in particular from its close cooperation with one of the leading suppliers of spunmelt manufacturing equipment, and with customers active in supplying personal hygiene products.

In 2002 and 2003, the Company focused on further efficiency and quality improvements through the introduction of optical control equipment and an air management system on each of its production lines. In late 2004, the Company launched its seventh production line, a high-speed spunmelt line, to meet the increased customer demand. PEGAS has grown over the last 16 years since its foundation through the installation of a total of seven production lines. Each of the production lines, at the time of its installation, was among the most technologically advanced in commercial operation anywhere in the world. Of the current seven production lines, five lines (which account for approximately 90% of production capacity), remain among the most technologically competitive. In 2006, the Company’s production of spunmelt nonwoven (net of scrap) reached 54,159 tonnes.

21

Description of Company’s history and business

Board of Directors Report on Business Activity

6.1.2

Board of Directors Report on Business Activity

Corporate Governance

2006 – Key Figures

1 Audited Income Statement under IFRS of Pegas a.s. and audited Balance Sheet under IFRS of PEGAS NONWOVENS SA 2 Adjusted by Foreign Exchange (FX) diff erences and Mark-to-Market revaluation of Interest Rate Swaps for 2006 only

45

8

2006 – Key Figures

Exchange Rates


RÁM: ALU 6061 FREEDRIVE EXTREME, NASTAVITELNÝ ZDVIH 170/190MM, MAXLE OSA, VÝMĚNNÉ PATKY (150X12MM) ; TLUMIă: FOX DHX AIR-4.0 ; VIDLICE: MARZOCCHI 66SL 1 ATA, DUAL AIR SPRING, 140-180MM, RC2 ; KLIKY: FSA GRAVITY, MEGA EXO, ROCKRING ; PĶEHAZOVAăKA: SRAM X-9 ; ĶAZENÍ: SRAM X-9 PÁČKY ; RÁFKY: WTB LASER DISC FR ; PĶEDNÍ NÁBOJ: WTB LASER DISC SUPER DUTY, 20MM OSA ; ZADNÍ NÁBOJ: WTB LASER DISC SUPER DUTY, 150X12MM OSA ; BRZDY: AVID JUICY 7 HYDRAULICKÉ DISKOVÉ, 203MM ; SEDLOVKA: TITEC KNOCKSCOPER I-BEAM, TELESKOPICKÁ SEDLOVKA ;

RÁM: ALU 6061 FREERIDE HARDTAIL, ZADNÍ STAVBA PRO 150X12MM OSU ; VIDLICE: MARZOCCHI ALL MOUNTAIN 3, 120-160MM, 20MM PEVNÁ OSA ; KLIKY: FSA GAP, 36 ZUBŮ ROCKRING ; STĶED: FSA MEGA EXO, VNĚJŠÍ LOŽISKA ; PĶEHAZOVAăKA: SRAM X-7 ; ĶAZENÍ: SRAM X-7 PÁČKY ; KAZETA: SRAM PG970, 9 RYCHLOSTÍ ; RÁFKY: WTB SPEED DISC XL ; BRZDY: HAYES HFX-9 HYDRAULICKÉ DISKOVÉ ; SEDLOVKA: SDG I-BEAM 6061 ; EXTRA: MRP SB-3 NAPÍNÁK ŘETĚZU ;

RÁM: ALU 6061 FREEDRIVE DOWNHILL NASTAVITELNÝ ZDVIH 189/214MM, MAXLE OSA, VÝMĚNNÉ PATKY (150X12MM) ; TLUMIă: FOX DHX-5.0 ; VIDLICE: ROCK SHOX BOXXER TEAM, 203MM, MOTION CONTROL ; KLIKY: TRUVATIV HOLZFELLER ; STĶED: TRUVATIV HOWITZER TEAM, VNĚJŠÍ LOŽISKA ; PĶEHAZOVAăKA: SRAM X-9 ; ĶAZENÍ: SRAM X-9 PÁČKY ; RÁFKY: SUN MTX TEAM BLUE ; PĶEDNÍ NÁBOJ: SUN RINGLE ABBAH SOS, 20MM OSA ; ZADNÍ NÁBOJ: SUN RINGLE ABBAH SOS, 150X12MM OSA ; BRZDY: AVID JUICY 7 HYDRAULICKÉ DISKOVÉ ;

RÁM: ALU 6061, FLAT TOP TUBE TECHNOLOGY , DIRT JUMP GEOMETRIE ; VIDLICE: MARZOCCHI DIRT JUMPER 3, 100MM, 20MM PEVNÁ OSA ; KLIKY: FSA MOTO X, 36 ZUBŮ, ROCKRING ; STĶED: FSA MEGA EXO, VNĚJŠÍ LOŽISKA ; PĶEHAZOVAăKA: SR SUNTOUR DUROLUX GTB ; ĶAZENÍ: SRAM SX-5 PÁČKY ; KAZETA: SRAM PG830, 8 RYCHLOSTÍ ; RÁFKY: SUN SINGLE DITCH WITCH ; BRZDY: TEKTRO AURIGA HYDRAULICKÉ DISKOVÉ ; EXTRA: MRP SB-3 NAPÍNÁK ŘETĚZU ;

HMOTNOST : 15.4 KG

HMOTNOST : 15.1 KG

HMOTNOST : 18.8 KG

KOLA URăENÁ DO EXTRÉMNÍCH

PODMÍNEK

RÁM: CR-MO 4130 ZESLABOVANÝ, KOMPATIBILNÍ 24”/26” KOLA ; VIDLICE: MARZOCCHI DIRT JUMPER 3, 100MM ; KLIKY: 3 DÍLNÉ CR-MO, 33 ZUBŮ ; STĶED: BSA, ZAPOUZDŘENÝ, BMX OSA ; KAZETA: PASTOREK, 15 ZUBŮ ; RÁFKY: SUN DITCH WITCH ; PLÁŠTį: KENDA K-RAD 26X2.3”F / KINIPTION 26X2.3”R ; BRZDY: HAYES MX-4 MECHANICKÉ DISKOVÉ ; BRZDOVÉ PÁKY: TEKTRO ML-330 DIRT JUMP ; EXTRA: VÝMĚNNÁ PATKA PŘEHAZOVAČKY,

RÁM: ALU 6061, FLAT TOP TUBE TECHNOLOGY , DIRT JUMP GEOMETRIE ; VIDLICE: MARZOCCHI DIRT JUMPER 3, 100MM, 20MM PEVNÁ OSA ; KLIKY: FSA MOTO X, 36 ZUBŮ, ROCKRING ; STĶED: FSA MEGA EXO, VNĚJŠÍ LOŽISKA ; KAZETA: PASTOREK, 16 ZUBŮ ; RÁFKY: SUN SINGLE DITCH WITCH ; PLÁŠTį: KENDA SHORT BLOCK EIGHT 26X2.35” ; BRZDY: AVID JUICY 3 HYDRAULICKÉ DISKOVÉ ; BRZDOVÉ PÁKY: AVID JUICY 3 ; EXTRA: NAPÍNÁK ŘETĚZU, ADAPTÉR NA 9 RYCHLOSTÍ ;

RÁM: ALU 6061 FREEDRIVE EXTREME, NASTAVITELNÝ ZDVIH 170/190MM, MAXLE OSA, VÝMĚNNÉ PATKY (150X12MM) ; TLUMIă: FOX DHX AIR-3.0 ; VIDLICE: ROCK SHOX DOMAIN 318, 180MM, MOTION CONTROL, 20MM MAXLE OSA ; KLIKY: FSA GAP, MEGA EXO, ROCKRING ; PĶEHAZOVAăKA: SRAM X-7 ; ĶAZENÍ: SRAM X-7 PÁČKY ; RÁFKY: WTB SPEEDDISC XL ; BRZDY: HAYES HFX-9 HYDRAULICKÉ DISKOVÉ ; PĶEDSTAVEC: EASTON VICE DH/FR ; SEDLOVKA: TITEC KNOCKSCOPER I-BEAM, TELESKOPICKÁ SEDLOVKA ;

HMOTNOST : 14.2 KG

RÁM: ALU 6061 FREEDRIVE EXTREME, NASTAVITELNÝ ZDVIH 170/190MM, VÝMĚNNÉ PATKY (135MM) ; TLUMIă: FOX VAN R ; VIDLICE: MARZOCCHI ALL MOUNTAIN 4, 160MM, 20MM OSA ; KLIKY: FSA ALPHA DRIVE, ROCKRING ; STŘED: FSA POWERDRIVE ; PĶEHAZOVAăKA: SRAM X-5 ; ŘAZENÍ: SRAM X-5 PÁČKY ; RÁFKY: WTB DUAL DUTY FR ; BRZDY: TEKTRO AURIGA HYDRAULICKÉ DISKOVÉ, 203MM ; SEDLO: SDG BEL AIR SUPER TOUGH ;

INTEGROVANÝ NAPÍNÁK ŘETĚZU PRO SINGLE SPEED ; HMOTNOST : 15.1 KG

RÁM: ALU ZESLABOVANÝ, FREEDRIVE XC/ENDURO 100MM ZDVIH ; TLUMIă: FOX FLOAT RP3 ; VIDLICE: FOX F100RL, 100MM, LOCK OUT ; KLIKY: FSA AFTERBURNER MEGA EXO ; PEDÁLY: CRANK BROTHERS SMARTY ; PĶESMYKAă: SHIMANO DEORE XT ; PĶEHAZOVAăKA: SHIMANO DEORE XT ; ĶAZENÍ: SHIMANO DEORE XT RAPID FIRE ; RÁFKY: WTB LASER DISC XC ; NÁBOJE: WTB LASER DISC LITE ; BRZDY: AVID JUICY 5 HYDRAULICKÉ DISKOVÉ ;

RÁM: ALU ZESLABOVANÝ, FREEDRIVE XC/ENDURO 100MM ZDVIH ; TLUMIă: FOX FLOAT RP3 ; VIDLICE: FOX F100X TERRALOGIC, 100MM ; KLIKY: FSA CARBON PRO TEAM ISSUE, MEGA EXO ; PEDÁLY: CRANK BROTHERS CANDY C ; PĶESMYKAă: SHIMANO DEORE XT ; PĶEHAZOVAăKA: SRAM X-0 CARBON ; ĶAZENÍ: SRAM X-0 PÁČKY ; RÁFKY: NO TUBES ZTR OLYMIC DISC TUBELESS ; NÁBOJE: RINGLE DIRT FLEA DISC ; BRZDY: AVID JUICY ULITMATE HYDRAULICKÉ DISKOVÉ ;

RÁM: HEAT TREATED ALUMINUM, JUMP STYLE GEOMETRIE ; VIDLICE: SR SUNTOUR XCU, 80MM ; KLIKY: SR SUNTOUR XCC-150 ; PĶESMYKAă: SHIMANO C-051 ; PĶEHAZOVAăKA: SHIMANO TX30 ; ĶAZENÍ: SUNRACE M-33 PÁČKY ; KAZETA: FALCON, 7 RYCHLOSTÍ ; PLÁŠTį: KENDA KINETICS 26X2.35” ; BRZDY: PROMAX TX-119C V-BRAKE ;

RÁM: ALU 6061, FLAT TOP TUBE TECHNOLOGY , DIRT JUMP GEOMETRIE ; VIDLICE: SR SUNTOUR DURO D, 100MM ; KLIKY: FSA ALPHA DRIVE, 36 ZUBŮ, ROCKRING ; STĶED: FSA POWERDRIVE ; PĶEHAZOVAăKA: SR SUNTOUR XCM660 ; ĶAZENÍ: SRAM SX-5 PÁČKY ; KAZETA: SRAM PG830, 8 RYCHLOSTÍ ; RÁFKY: JALCO DDZ DVOUSTĚNNÉ ; BRZDY: RADIUS MECH 7.0 MECHANICKÉ DISKOVÉ ; BRZDOVÉ PÁKY: TEKTRO ML-330 DIRT JUMP ; EXTRA: MRP SB-3 NAPÍNÁK ŘETĚZU ;

HMOTNOST : 15.4 KG

HMOTNOST : 14.9 KG

HMOTNOST : 12.6 KG

HMOTNOST : 12.3 KG

RÁM: ALU 6061 FLAT TOP TUBE TECHNOLOGY, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR X120, 120MM, LOCK OUT ; KLIKY: FSA ALPHA DRIVE ; STĶED: FSA POWERDRIVE ; PĶESMYKAă: SR SUNTOUR DURO-504 ; PĶEHAZOVAăKA: SRAM SX-5 ; ĶAZENÍ: SRAM SX-5 PÁČKY ; KAZETA: SRAM PG950, 9 RYCHLOSTÍ ; RÁFKY: WTB SPEED DISC ALL MOUNTAIN ; BRZDY: HAYES MX-4 MECHANICKÉ DISKOVÉ ; SEDLO: WTB PURE V SPORT ;

RÁM: ALU 6061 FLAT TOP TUBE TECHNOLOGY, VÝMĚNNÁ PATKA ; VIDLICE: ROCK SHOX TORA 302, U-TURN, 85-130MM, LOCK OUT ; KLIKY: FSA ALPHA DRIVE ; STĶED: FSA ALPHA DRIVE ; PĶESMYKAă: SHIMANO DEORE ; PĶEHAZOVAăKA: SHIMANO DEORE XT ; ĶAZENÍ: SHIMANO DEORE RAPID FIRE ; KAZETA: SRAM PG950, 9 RYCHLOSTÍ ; RÁFKY: WTB SPEED DISC ALL MOUNTAIN ; BRZDY: AVID JUICY 3 HYDRAULICKÉ DISKOVÉ ; SEDLO: WTB PURE V RACE ;

HMOTNOST : 13.9 KG

HMOTNOST : 13.7 KG

RÁM: ALU 6061 FLAT TOP TUBE TECHNOLOGY, VÝMĚNNÁ PATKA ; VIDLICE: ROCK SHOX TORA 289 U-TURN, 85-130MM ; KLIKY: SHIMANO, OCTALINK ; STĶED: SHIMANO BB-ES25, OCTALINK ; PĶESMYKAă: SR SUNTOUR DURO-504 ; PĶEHAZOVAăKA: SRAM SX-7 ; ĶAZENÍ: SRAM SX-5 PÁČKY ; KAZETA: SRAM PG950, 9 RYCHLOSTÍ ; RÁFKY: WTB SPEED DISC ALL MOUNTAIN ; BRZDY: TEKTRO AURIGA HYDRAULICKÉ DISKOVÉ ; SEDLO: WTB PURE V RACE ;

meteore Comp

HMOTNOST : 14.1 KG

meteore team

meteore Elite

cena:

79.990 KĄ

105.990 Sk

cena:

49.990 KĄ

RÁM: XTROLITE G7 ALUMINUM, ZESLABOVANÝ ; VIDLICE: FOX F80X TERRALOGIC, 80MM ; KLIKY: FSA CARBON PRO TEAM ISSUE, MEGA EXO ; PEDÁLY: CRANK BROTHERS CANDY C ; PĶESMYKAă: SHIMANO DEORE XT ; PĶEHAZOVAăKA: SRAM X-0 CARBON ; ĶAZENÍ: SRAM X-0 PÁČKY ; RÁFKY: NO TUBES ZTR OLYMIC DISC TUBELESS ; NÁBOJE: RINGLE DIRT FLEA DISC ; BRZDY: AVID JUICY ULITMATE HYDRAULICKÉ DISKOVÉ ; SEDLOVKA: KORE I-BEAM ELITE CARBON ;

cena:

18.990 KĄ

66.990 Sk

24.990 Sk

RÁM: ALU 7005 RACE MONGOOSE DESIGN ; VIDLICE: SR SUNTOUR X80, 80MM, LOCK OUT ; KLIKY: SHIMANO, OCTALINK ; PEDÁLY: CRANK BROTHERS SMARTY ; PĶESMYKAă: SHIMANO DEORE ; PĶEHAZOVAăKA: SHIMANO DEORE ; ĶAZENÍ: SHIMANO DEORE RAPID FIRE ; RÁFKY: WTB DX23 DISC ; BRZDY: TEKTRO AURIGA HYDRAULICKÉ DISKOVÉ ; SEDLO: WTB PURE V SPORT ;

RÁM: XTROLITE G7 ALUMINUM, ZESLABOVANÝ ; VIDLICE: FOX F80RL, 80MM, LOCK OUT ; KLIKY: FSA AFTERBURNER, MEGA EXO ; PEDÁLY: CRANK BROTHERS SMARTY ; PĶESMYKAă: SHIMANO DEORE XT ; PĶEHAZOVAăKA: SHIMANO DEORE XT ; ĶAZENÍ: SHIMANO DEORE XT RAPID FIRE ; RÁFKY: WTB LASER DISC XC ; NÁBOJE: WTB LASER DISC LITE ; BRZDY: AVID JUICY 5, HYDRAULICKÉ DISKOVÉ ; SEDLOVKA: KORE I-BEAM RACE ;

HMOTNOST : 9.7 KG

HMOTNOST : 12.9 KG

HMOTNOST : 10.2 KG

RÁM: FULL CR-MO ; VIDLICE: FULL CR-MO ; KLIKY: 3 DÍLNÉ TUBULAR CR-MO, 36 ZUBŮ ; PEDÁLY: SNAFU CONCAVE ; KAZETA: ODYSSEY, 13 ZUBŮ ; RÁFKY: SUN BLACK BOX, 36 DĚR ; ZADNÍ NÁBOJ: ODYSSEY HAZARD, 14MM CR-MO OSA ; ZADNÍ BRZDA: TEKTRO FX570 ALLOY U-BRAKE ; BRZDOVÉ PÁKY: SNAFU C-LEVER ; SEDLO: SNAFU DUNBAR, CR-MO ; EXTRA: SHADOW CONSPIRACY STUPAČKY, SNAFU LANKA ;

RÁM: FULL CR-MO ; VIDLICE: FULL CR-MO ; KLIKY: 3 DÍLNÉ TUBULAR CR-MO, 39 ZUBŮ ; PEDÁLY: MONGOOSE “M PEDAL” ALU ; KAZETA: LOOSE BALL, 13 ZUBŮ ; RÁFKY: SUN ZX25 ALU, 36/48 DĚR ; PLÁŠTį: SNAFU STERLY 2.10” ; NÁBOJE: ALU, 14MM CR-MO OSA ; BRZDY: TEKTRO ALLOY U-BRAKE ; EXTRA: SST ORYG 1-1/8”, 2 PÁRY STUPAČEK ; HMOTNOST : 13.6 KG

RÁM: CR-MO HLAVNÍ RÁMOVÝ TROJÚHELNÍK ; VIDLICE: FULL CR-MO ; KLIKY: 3 DÍLNÉ TUBULAR CR-MO, 39 ZUBŮ ; PEDÁLY: MONGOOSE “M PEDAL” ALU ; KAZETA: ACS CR-MO, 14 ZUBŮ, FREEWHEEL ; RÁFKY: ALEX F303 ALU, 36/48 DĚR ; NÁBOJE: ALU, 14MM CR-MO OSA ; BRZDY: TEKTRO ALLOY U-BRAKE ; SEDLO: MONGOOSE SLIM ; EXTRA: SST ORYG 1-1/8”, 2 PÁRY STUPAČEK ;

RÁM: FULL HI-TEN ; VIDLICE: CR-MO / HI-TEN ; KLIKY: 3 DÍLNÉ TUBULAR CR-MO, 39 ZUBŮ ; PEDÁLY: MONGOOSE LOGO ALU PLATFORMOVÉ ; KAZETA: ACS CR-MO, 14 ZUBŮ, FREEWHEEL ; RÁFKY: ALEX F303 ALU, 48 DĚR ; NÁBOJE: OCEL, OSA 14MM CR-MO OCEL ; BRZDY: TEKTRO ALLOY U-BRAKE ; SEDLO: MONGOOSE JUMPER ; EXTRA: 2 PÁRY STUPAČEK ; HMOTNOST : 13.5 KG

HMOTNOST : 13.4 KG

HMOTNOST : 13.2 KG

RÁM: ALU 6061 TRAIL TESTED GEOMETRY, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR XCR RL 100MM, LOCK OUT Z ŘÍDÍTEK ; STĶED: FSA POWERDRIVE ; KLIKY: FSA ALPHA DRIVE ; PĶESMYKAă: SR SUNTOUR XCM202 ; PĶEHAZOVAăKA: SRAM SX-5 ; ĶAZENÍ: SRAM SX-5 PÁČKY ; KAZETA: SRAM PG830, 8 RYCHLOSTÍ ; RÁFKY: WTB SX24 DISC ; BRZDY: TEKTRO IO MECHANICKÉ DISKOVÉ ; SEDLO: WTB SPEED V SPORT, MONGOOSE LOGO ; HMOTNOST : 13.7 KG

HMOTNOST : 13.4 KG

HMOTNOST : 12.9 KG

RÁM: FULL CR-MO ; VIDLICE: CR-MO BLADES / HI-TEN ; KLIKY: 3 DÍLNÉ TUBULAR CR-MO, 36 ZUBŮ ; PEDÁLY: MONGOOSE “M PEDAL” ALU ; KAZETA: LOOSE BALL, 13 ZUBŮ ; RÁFKY: SUN ZX25 ALU, 36/48 DĚR ; PLÁŠTį: SNAFU DIRT BOX 2.125”F / SNAFU KNOB JOB 1.95”R ; ZADNÍ BRZDA: TEKTRO ALLOY U-BRAKE ; SEDLO: MONGOOSE SLIM ; EXTRA: SST ORYG 1-1/8”, 1 PÁR STUPAČEK ;

RÁM: FULL HI-TEN ; VIDLICE: CR-MO BLADES / HI-TEN ; KLIKY: 3 DÍLNÉ TUBULAR CR-MO, 39 ZUBŮ ; PEDÁLY: MONGOOSE LOGO ALU PLATFORMOVÉ ; KAZETA: ACS CR-MO, 14 ZUBŮ, FREEWHEEL ; RÁFKY: ALEX F303 ALU, 36/48 DĚR ; NÁBOJ: 14MM CR-MO OSA ; ZADNÍ BRZDA: TEKTRO ALLOY U-BRAKE ; SEDLO: MONGOOSE JUMPER ; EXTRA: 1 PÁR STUPAČEK ;

HMOTNOST : 13.6 KG

HMOTNOST : 13.9 KG

11.590 Sk

13.290 Sk

17.290 Sk

RÁM: TEAM DIRT JUMP FULL CR-MO ; VIDLICE: FULL CR-MO ; KLIKY: 3 DÍLNÉ TUBULAR CR-MO, CNC, 30 ZUBŮ ; PEDÁLY: SNAFU CONCAVE V ; KAZETA: ODYSSEY, ONE PIECE DRIVER, 11 ZUBŮ ; RÁFKY: SUN RHYNO LITE XL BLACK, 36 DĚR ; ZADNÍ NÁBOJ: ODYSSEY HAZARD, 14MM CR-MO OSA ; ZADNÍ BRZDA: TEKTRO FX15 ALLOY U-BRAKE ; BRZDOVÉ PÁKY: SNAFU C-LEVER ; SEDLO: SNAFU DUNBAR, CR-MO ;

8.690 Kcˇ

9.990 Kcˇ

12.990 Kcˇ

RÁM: FULL HI-TEN ; VIDLICE: FULL HI-TEN ; KLIKY: JEDNODÍLNÉ CR-MO, 44 ZUBŮ ; PEDÁLY: MONGOOSE LOGO ALU PLATFORMOVÉ ; KAZETA: ASC MAIN DRIVE, 16 ZUBŮ ; RÁFKY: JALCO ST26 ALU, 48 DĚR ; PĶEDNÍ BRZDA: TEKTRO ALLOY CALIPER ; ZADNÍ BRZDA: TEKTRO ALLOY U-BRAKE ; NÁBOJE: OCEL, OSA 14MM CR-MO OCEL ; SEDLO: MONGOOSE JUMPER, EMBOSSED ; EXTRA: SST ORYG 1-1-1/8”, 2 PÁRY STUPAČEK ;

cena:

cena:

cena:

RÁM: ALU 6061 TRAIL TESTED GEOMETRY, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR XCM, 100MM ; KLIKY: SR SUNTOUR XCC-150 ; STĶED: TANGE, ZAPOUZDŘENÝ ; PĶESMYKAă: SHIMANO C050 ; PĶEHAZOVAăKA: SHIMANO ACERA ; ĶAZENÍ: SHIMANO ST-EF50 PÁČKY ; KAZETA: SR SUNTOUR, 8 RYCHLOSTÍ ; RÁFKY: ALEX PC-19 DVOUSTĚNNÉ ; BRZDY: PROMAX TX-107 V-BRAKE ; SEDLO: WTB SPEED V SPORT, MONGOOSE LOGO ;

RÁM: ALU 6061 TRAIL TESTED GEOMETRY, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR XCM DA, 100MM ; KLIKY: SR SUNTOUR XCC-150 ; STĶED: TANGE, ZAPOUZDŘENÝ ; PĶESMYKAă: SHIMANO C050 ; PĶEHAZOVAăKA: SHIMANO ACERA ; ĶAZENÍ: SHIMANO ST-EF50 PÁČKY ; KAZETA: SR SUNTOUR, 8 RYCHLOSTÍ ; RÁFKY: ALEX PC-19 DVOUSTĚNNÉ ; BRZDY: PROMAX TX-107 V-BRAKE ; SEDLO: WTB SPEED V SPORT, MONGOOSE LOGO ;

HMOTNOST : 14,2 KG

HMOTNOST : 1.2 KG

cena:

cena:

7.290 KĄ

cena:

6.690 KĄ

9.690 Sk

6.490 KĄ

8.990 Sk

8.690 Sk

RÁM: ALU 6061 HEAT TREATED, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR M2000 ; KLIKY: SR SUNTOUR XCC-150 ; PĶESMYKAă: SHIMANO C050 ; PĶEHAZOVAăKA: SHIMANO ALTUS ; ĶAZENÍ: SUNRACE M-33 PÁČKY ; KAZETA: SR SUNTOUR, 8 RYCHLOSTÍ ; RÁFKY: ALEX PC19 DVOUSTĚNNÉ ; PLAŠTį: KENDA KOMODO 26X1.95” ; BRZDY: PROMAX TX-117 V-BRAKE ;

RÁM: ALU 6061 HEAT TREATED, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR M2000 ; KLIKY: SR SUNTOUR XCC-100 ; PĶESMYKAă: SHIMANO C051 ; PĶEHAZOVAăKA: SHIMANO TX30 ; ĶAZENÍ: SUNRACE M-33 PÁČKY ; KAZETA: SUNRACE, 7 RYCHLOSTÍ ; RÁFKY: ALEX Z1000 ; PLAŠTį: KENDA KOMODO 26X1.95” ; BRZDY: PROMAX TX-117 V-BRAKE ;

HMOTNOST : 13.6 KG

HMOTNOST : 13.9 KG

RÁM: ALU 6061 HEAT TREATED, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR M2000 ; KLIKY: SR SUNTOUR XCC-100 ; PĶESMYKAă: SHIMANO TY22GS ; PĶEHAZOVAăKA: SHIMANO TX30 ; ĶAZENÍ: SRAM MRX-200 ; KAZETA: SHIMANO, 7 RYCHLOSTÍ ; RÁFKY: ALEX Z1000 ; PLAŠTį: KENDA K-850 24X1.95” ; BRZDY: ROMAX TX-117 V-BRAKE ; HMOTNOST : 12.7 KG

Crossway 850

16.490 KĄ

250

350

450

cena:

Crossway

Crossway

Crossway cena:

11.490 KĄ

21.990 Sk

15.290 Sk

cena:

cena:

11.990 Sk

9.690 Sk

8.990 KĄ

RÁM: MONGOOSE ALUMINUM, CROSS COMFORT DESIGN, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR NCX-E RL, 63MM, LOCK OUT Z ŘÍDÍTEK ; KLIKY: FSA ALPHA DRIVE ; STĶED: FSA POWERSPLINE ; PĶESMYKAă: SRAM X-7 ; PĶEHAZOVAăKA: SRAM X-7 ; ĶAZENÍ: SRAM SX-5 ; KAZETA: SRAM PG950, 9 RYCHLOSTÍ ; RÁFKY: WTB DX23 DVOUSTĚNNÉ ; BRZDY: AVID SINGLE DIGIT 5 V-BRAKE ; HMOTNOST : 12.2 KG

RÁM: MONGOOSE ALUMINUM, CROSS COMFORT DESIGN, VÝMĚNNÁ PATKA ; VIDLICE: SR SUNTOUR NCX-D LO, 63MM, LOCK OUT ; KLIKY: FSA ALPHA DRIVE ; STĶED: FSA POWERSPLINE ; PĶESMYKAă: SR SUNTOUR DURO ; PĶEHAZOVAăKA: SRAM SX-5 ; ĶAZENÍ: SRAM SX-5 ; KAZETA: SRAM PG830, 8 RYCHLOSTÍ ; RÁFKY: WTB DX23 DVOUSTĚNNÉ ; BRZDY: TEKTRO SCD5 V-BRAKE ; HMOTNOST : 12.7 KG

RÁM: MONGOOSE ALUMINUM, CROSS COMFORT DESIGN, VÝMĚNNÁ PATKA ; VIDLICE: RST NEON ML, 45MM, LOCK OUT ; KLIKY: SR SUNTOUR XCC-T208 ; STĶED: TANGE, ZAPOUZDŘENÝ ; PĶESMYKAă: SHIMANO C102 ; PĶEHAZOVAăKA: SHIMANO ACERA ; ĶAZENÍ: SHIMANO ST-EF50 PÁČKY ; KAZETA: SR SUNTOUR, 8 RYCHLOSTÍ ; RÁFKY: ALEX PC19 DVOUSTĚNNÉ ; BRZDY: PRO MAX TX-107 V-BRAKE ; HMOTNOST : 13.1 KG

7.290 KĄ

RÁM: MONGOOSE ALUMINUM, CROSS COMFORT DESIGN, VÝMĚNNÁ PATKA ; VIDLICE: HI-TEN ; KLIKY: SR SUNTOUR XCC-T208 ; STĶED: TANGE, ZAPOUZDŘENÝ ; PĶESMYKAă: SHIMANO C051 ; PĶEHAZOVAăKA: SHIMANO ALTUS ; ĶAZENÍ: SUNRACE PÁČKY ; KAZETA: SUNRACE, 7 RYCHLOSTÍ ; RÁFKY: ALEX Z1000 ; BRZDY: PRO MAX TX-117 V-BRAKE ; HMOTNOST : 12.3 KG


reference Milk Design s.r.o.  

ukazka kreativnich návrhu bez zasahu klienta, ktere opustili muj pracovní stůl. Tyto prace sou ve formne navrhu a nekteré z nich nebyli real...

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