Shimano Reports ‘Robust’ Sales in First Half Year
OSAKA, Japan – Shimano reports that its net sales have grown by 7.1% in the first half of this year. In its financial statement the company mentions its STEPS E8000 drive unit for e-MTB’s in particular which “continued to be well received in the market. As a result, net sales from bicycle components increased 6.8%.”
The world’s biggest bicycle components maker further reports for Europe that “Domestic demand including personal consumption generally maintained an expansion trend.” The same is reported for the U.S. where “The economy grew steadily due to firm business conditions and increased personal consumption backed by robust labour market.” In these conditions Shimano’s two biggest markets have seen that “Distributor inventories of bicycles remained at an appropriate level.”
E-bike retail sales
As a result, for the first half of fiscal year 2018, Shimano’s overall net sales (including fishing tackle sales and from other activities) increased 7.1% from the same period of the previous year to JPY 174,731 million (€ 1,341m). Bicycle components sales increased 6.8% to JPY 137,918 million (€ 1,059m) while the company’s operating income increased 9.0% to JPY 29,506 million (€ 227m).
Furthermore Shimano reports that in Europe “Driven by the stable weather after April e-bike retail sales have been robust. In North America, retail sales of completed bicycles were on par with an average year.”
Management changes Shimano Europe
Shimano also reports management changes at its European operations. Here Erik Naberman has been appointed as the new Managing Director of Shimano Europe’s Fishing Tackle Division. From next September on he will be the successor of Cor Ax who is leaving the company after differences on the future strategy. Erik Naberman is active for Shimano already since 21 years; last 10 years he was the MD of Shimano Benelux. René Veenhuizen will replace Erik Naberman as MD of Shimano Benelux. Veenhuizen is for over 27 years working for Shimano and during the last 3 years he was Sales Director of Shimano Europe’s Bike division.