Merida’s Board of Directors meeting on Aug 9th has approved the consolidated result of the first half of 2019. Thanks for the growth of e-bikes with higher price and margin, the result was significantly better in all aspects compared to 2018.
Profit before tax for the company was NT$1.39 billion (approx. US$44 million), up 22.6% from the prior year. The profit after tax was NT$1.06 billion (approx. US$33 million), up 83.5% compared with a year earlier. The EPS was NT$3.5, up 90.2% from a year ago.
In a press release, Merida noted that it saw growth of 6.6% on sales in China from Jan to Jun while sales in both Europe and the US were both good with rapid growth on high-end e-bikes in particular.
E-bikes already take 18% of the total sales quantity and 36% of the revenue for the whole company and the average selling price and profit are being pushed up accordingly.