Merida International, one of the largest bike manufacturers worldwide, reported that its monthly revenues for June 2024 increased 48.7 percent to NT$3.20 billion. This was more than enough to keep the second quarter in positive territory but not enough to push the first half into growth mode.
The company, which acquired a 49 percent stake in Specialized in 2001 and manufactures bikes under its own brand name and others, saw its June percentage increase a notch, the largest monthly year-over-year growth since December 2022 and the latest monthly sales volume since February 2023.
Second-quarter revenues were up 24.8 percent to NT$9.29 billion, with May sales up 7.5 percent and April sales surging 24.0 percent year-over-year. This nearly reversed the very weak first quarter, which saw sales fall 29.8 percent to NT$5.86 billion.
The company forecasts that the trend will continue to improve as it comps against some of the toughest months for the cycling industry last year, when sales fell 43.0 percent in the second half of the year after declining just 6.9 percent in the first half of 2023.
Merida International reports financials in the New Taiwan Dollar (NT$). The company’s R&D offices are in Germany.
Images courtesy Merida International
