Stable Shimano Sales in Europe
OSAKA, Japan – During the first nine months of 2012 Shimano Inc. saw its sales in Europe remain at the same level as a year earlier. Retail sales remained stable as for the corresponding period of the previous year thanks to the fine weather from late July onward despite sluggish business in spring when the weather was unstable.
Shimano Inc. reports a good Q1-Q3 2012*. The company is still booking double digit growth figures. Shimano’s net income increased by 79% to JPY 20.472 million (€ 197 mn). Consolidated net sales increased by 13.1% to JPY 182,739 million (€ 1,763 mn) while operating income was up 40%.
The company’s financial report notes: “In North America, sales continued to exceed the 2011 level following buoyant sales helped by the mild winter and stable spring weather.
China sales continues to rise
“Demand for sports bicycles in China having surged in previous year, continued to rise, although sales could slow down towards the end 2012 as the Chinese economy may have peaked. In Southeast Asia and South America, demand for sports bicycles is rising. In contrast retailer sales in Japan were lackluster amid unsettled weather.
“In these market conditions shipments from Shimano proceed virtually as planned. New models introduced in the second quarter of 2012, including those of the SLX mountain bike components the SORA road bike components and the Tourney A070 continued to be sold as well.
As a result, sales in bicycle components increased 13.6% from the same period of the previous year to JPY 146,229 million (€ 1,411 mn) while the operating income increased by 40% to JPY 29,821 million (€ 287 mn).”
“As the debt crisis in Southern Europe countries impacts the entire European economy business sentiments in the region is expected to deteriorate toward the latter half of 2012. In addition the tempo of growth of the Chinese economy and other emerging market economies is slowing pushing down the company’s results,” says Shimano’s financial report.
* Please note that Shimano Inc. has announced figures in JPY currency only. EUR equivalent amount is calculated by up-to-date exchange rate for the reference, the company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.