Shimano Results Point to Moderate Market Conditions in EU and US
TOKYO, Japan – Shimano’s nine-months of 2017 results indicate that market developments in the parts maker’s main markets Europe, the United States & Canada were not better than moderate. It resulted in an increase of only 1.4% in revenues made with bicycle components sales. Shimano’s total sales result (including fishing tackle and other) was up by 1.8% to JPY 245,969 million (€ 1.8 billion).
On its sales in Europe Shimano’s results statement for the first nine months of 2017 says “Retail sales of completed bicycles, which had been somewhat soft since the beginning of the year, were at the same level as the previous year for a first nine-month period despite lacking vigor. Distributor inventories of bicycles in Europe remained at an appropriate level.”
For the US and Canada a somewhat matching market situation is noticed by Shimano that says “In North America, retail sales of completed bicycles were approximately the same as the previous year’s level and distributor inventories continued to be somewhat low.”
For conditions on other markets Shimano’s result point to a further weakening of sales in China; flat sales in Southeast Asia while South America showed signs of recovery.
For next year Shimano holds high hopes. In particular for Europe as the company states “Because of the diversification of bicycle types, including e-bikes. Sales of both the Deore mountain bike components released in May 2017 and the Ultegra road bike components released in June 2017 remained robust, and the additional Ultegra Di2 and disc brakes released in August 2017 were well received in the market.”