Giant Group reported that consolidated revenue for the third quarter declined 24.5 percent year-over-year (YoY) as sales in each month of the quarter declined more than 20 percent. Still, the decrease in September was a sequential improvement from the sharper declines in July and August, when sales were down nearly 30 percent and 23 percent, respectively, versus the prior-year comparable period.

Revenue for the Taiwan-based bike manufacturer totaled NT$19.54 billion (US$619.4 mm) in the third quarter, a decline of 24.5 percent from NT$25.88 billion in Q3 2022.

September sales were down 20.9 percent from the prior-year comparable month, following a 22.9 percent decline in August and a 29.1 percent decline in July as the declines versus the larger shipment months in 2022 exacerbated the fall-off.

Revenue for the nine-month year-to-date (YTD) period totaled NT$62.10 billion (US$2.01 bn), a 12.4 percent decrease from NT$70.88 billion in the prior-year YTD period.

April was the only positive sales month (+20.3 percent) for the year through September.

First-quarter sales were down 9.6 percent versus the year-ago Q1 period and first-half sales were down 5.4 percent to NT$42.56 billion (US$1.39 bn) from NT$45.00 billion in the year-ago first half.

Giant revenues are reported in Taiwan dollar currency.

Photo courtesy Giant Group