Giant Manufacturing Co., Ltd. of Taiwan, a major bicycle maker, recently announced Q1 after-tax net earnings of NT$1.06 billion (US$35.3 million), up 19.5% from the same period of last year, or year-on-year (YoY), for earnings per share (EPS) of NT$2.83 (US$0.09), a new quarterly record in company history.
The bike maker also announced participating in a private fund raising carried out by KMC Chain Industrial Co. to acquire 1.5 million shares as a strategic investor.
Industry sources said that two other global bicycle makers in Taiwan will also become KMC's strategic investors soon, forming a very strong partnership to further upgrade their international competitiveness.
Thanks to eye-catching sales in major export markets Europe, the U.S., and Japan, as well as the continued appreciation of the U.S. greenback, Giant registered Q1 consolidated revenue of NT$14.2 billion (US$473.3 million), up 7.2% YoY.
In the first quarter, Giant shipped some 1.53 million bicycles (including traditional and electric bicycles), similar to some 1.55 billion units shipped a year earlier, with subsidiaries reporting promising sales including those in the U.S., Europe and Japan. The company said that the earlier arrival of spring in Europe this year led to higher sales volume in the first quarter. In the U.S., Giant added, its products have been winning increasingly higher popularity, while strong demand in China for higher-end leisure and sport bikes has been driving the firm's shipments.
Industry sources said that KMC hopes to further upgrade its competitiveness by expanding operating resources through a private capital-increase project, which will release 3.6 million shares to strategic investors.
| Giant's Earnings & EPS (Q1 2013-Q1 2014)
|| NT$13.24 billion
|| NT$13.95 billion
|| NT$14.91 billion
|| NT$12.89 billion
|| NT$14.20 billion
| Net Earnings
|| NT$886 million
|| NT$832 million
|| NT$946 million
|| NT$840 million
|| NT$1.06 billion
| Source: Market Observation Post System (MOPS)
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