Shimano Sees Strong Recovery of Financial Results
Whether the results are breaking records is not mentioned in the Shimano Group report on its financial results during the first half of the year. However, with an operating income that
OSAKA, Japan – Whether the results are breaking records is not mentioned in the Shimano Group report on its financial results during the first half of the year. However, with an operating income that doubled compared to the same period in 2009, one can say that the world’s biggest bike component maker sees a strong recovery of its financial results, to say the least!
Shimano Group scored a 15.9% net sales increase in the first half of the year to 104,390 million yen. Ordinary income increased 58.0% to 14,370 million yen, and net income increased 46.6% to 9,622 million yen.
On its bicycle components business Shimano Group says in its financial report: “Although retail sales in January and February were sluggish because of unusually harsh winter weather in the northern hemisphere, sales recovered and continued to be upbeat thanks to good weather in Europe and North America, which are major markets for bicycle components, from March onward, although certain parts of Europe largely missed out on this recovery in sales.
“In these circumstances, worldwide distribution inventories of bicycles were at almost normal levels and shipments from Shimano exceeded the levels initially planned. Shimano’s new products, namely, the 105 series for road bike components and Deore XT and SLX for mountain bike components, were well received and order-taking for these new products was brisk.
“As a result, sales from the bicycle components segment increased 19.8% from the same period of the previous year to 81,596 million yen and operating income increased 91.8% to 15,967 million yen.”