2023 Team DSM shimano groupset The company eclipsed its most successful year by 16.6 per cent, making it back-to-back years of record sales, even with demand for cycling products gradually easing off
The world’s leading bicycle component manufacturer Shimano published its financial results for 2022 (link is external) this week, declaring a record revenue of ¥517.4 million, equivalent to around £3.2 billion. This comes despite “the strong interest in cycling during the COVID-19 pandemic showed signs of cooling down”, according to Shimano, who also said strong sales of the new Shimano 105 groupset helped to boost performance in its bicycle component division.
The Osaka-based manufacturer recorded a sales increase of 16.6 per cent on 2021, which was previously its best year in terms of shipping out bike products, attributed to the boom in cycling during the pandemic.
In the report, Shimano also declared an operating income of almost ¥145,000 million, or £900 million, which eclipses its previous income of £775 million in 2021.
However, the company’s growth was hindered significantly in comparison to 2021, when it posted a record increase of 44 per cent over 2020 , along with celebrating its centenary with some snazzy promo books . Nonetheless, Shimano mentioned that the demand for bicycles remained higher than pre-pandemic levels.
This has been an increasingly visible trend in the bicycle industry since late last year with the world’s largest bicycle manufacturer Giant facing falling demands and rising inventory levels , and Swedish helmet safety company MIPS suffering from a “drastic slowdown […]
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