Groupset specialist Shimano has reported 2008 turnover of US$2.59 billion (€2.05 billion) up 11% year on year. Net income after costs for 2008 reached US$277 million (€220 million), up an impressive 26% on 2007.
Bicycle component sales continue to dominate Shimano’s business at US$2.04 billion, or 79% of revenue. Fishing equipment, and a small snow gear and golf business in Japan, account for the remainder.
However, despite a positive performance in 2008, Shimano is predicting a downturn in 2009. The company is forecasting that net income will fall 20.5%, reflecting the challenging economic climate.
