Shimano Sales Jumped by 20%
TOKYO, Japan – In its third quarter results Shimano reports buoyant sales in Europe despite a temporary decrease in sales owing to unsettled weather in August and September. In the US retail sales have been brisk since spring and on level with a typical year.
Consolidated sales of the biggest parts maker for bicycles in the world increased by no less than 20.8% to JPY 241,012 million (€1,779mn). The company’s operating income increased by 54.58% to JPY 47,969 million (€301mn), while net earnings went up by 35.9% to JPY 34,670 million (€217.6mn).
According to Shimano order-taking was brisk against a backdrop of rising expectations in view of promising market trends. Shimano products were relatively affordable because of the depreciation of the yen.
The sales of disc brakes for road bikes released in the third quarter, as well as new models released in the second quarter including Alivio, Tourney TX and 105 road bike components, were buoyant. As a result segment sales for the first nine months exceeded the figure for the same period of the previous year.
Confident market forecast
Shimano maintains a cautious outlook for 2014. Although the economies of the US and Europe are relatively robust, Shimano still think they all have their issues and the pace of the economic improvement will moderate. For Europe the protracted problems in Ukraine is still a matter of concern as well as sluggishness of the French and Italian economies.
For 2014 Shimano expects net sales of JPY 316,000 million (€1,983mn) and a net income of JPY 44,000 million (€276mn).