Merida Faced Big Decline in Sales
TAICHUNG, Taiwan – Merida took its full share of the drop in bicycle export from Taiwan. The company announced that the export of the Taiwan made bicycles decreased in 2016 by 20.18% to 866,076 units.
Merida group’s total export volume (including from China) in 2016 declined by 26.87% to 1,601,623 units compared with 2015. Merida’s net sales amounted USD 716 million (€ 667mn), down 18.78% compared to the previous year. The accumulated net revenue was down 14.24% from the previous year.
Anticipating on a good 2017 sales season stock market analysts in Europe have changed Merida’s rating from ‘reduce’ to ‘acquire’.