After predicting a difficult 2023 in the midst of a record year in 2022, Shimano appears to be suffering the same difficult headwinds as the rest of the cycling industry, with double-digit falls in both sales and profits.
Shimano revealed a 17.7% fall in sales of bicycle components in the first half of 2023, compared to the first half of last year. Net sales in the brand’s bicycle division fell to ¥205 billion (around £1.1 billion), with operating profit also down by 39.5% to ¥42 billion (circa £230 million).
