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Weather has 'little effect' on Shimano, as sales increase 19%

Published October 27, 2015

OSAKA, Japan (BRAIN) — Shimano says its bike and e-bike component sales have been strong globally in the first three quarters of 2015, with double-digit percentage increases in sales despite unfavorable weather in Europe and North America.

The company's sales were up 19 percent over the period ending Sept. 30, with the component giant posting sales of 286 billion yen ($2.4 billion). Bicycle-related sales were 237 billion yen, a 21 percent increase over the same period last year. Fishing-related sales were up 10 percent.

Operating income for the bike division was up 37 percent, to 61,233 million yen.

"Demand in both Europe and North America was little affected by the weather. In Europe, although sales volume has been running at a somewhat lower level than during the previous year when sales were brisk thanks to good weather, retail sales have been strong with brisk sales of high-end models centering on e-bike," the company said in a summary of its results for the first nine months of 2015, released on Tuesday.

The company said "order-taking remained brisk" for the new Deore XT and Acera mountain bike components and Tiagra road bike components, all launched in the first half of this year.

One less bright spot: Sales in China were below last year's figures due to the economic slowdown there. But sales in the emerging markets of Southeast Asia and South America were "relatively robust."

Topics associated with this article: Earnings/Financial Reports

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