TAICHUNG, Taiwan (BRAIN) Giant Group says a significant rebound in OEM orders fueled a 4.9% increase in group revenues in the first quarter compared to the same quarter last year.
The company had revenue of NT$16.85 billion ($550 million) in the quarter, up from NT$16.06 billion last year. Gross margin rate was 17.8% and operating profit was NT$0.42 billion, a decrease of 21.7%.
Net profit after tax totaled NT$0.37 billion, reflecting a year-over-year decline of 29.3%, with earnings per share (EPS) at NT$0.94.
Giant said sales of its own branded products was relatively moderate in comparison to the first quarter last year when there was especially high demand in the Chinese domestic market.
Nonetheless, cycling remains popular in China, and with demand in the Giant Group US and Europe markets gradually recovering, the upcoming peak season is expected to drive stronger sales in Q2 and Q3, the company said in a release.
Despite ongoing uncertainties related to global tariffs, trade tensions, and exchange rate fluctuations, Giant Group has responded with caution and resilience, the company said. Leveraging its well-established global manufacturing network and strategic flexibility, the Group continues to optimize production across regions, mitigate external risks, and seize emerging opportunities.
Preliminary revenue figures filed with the Taipei stock exchange show that Giants momentum did not continue into the second quarter. In April, group revenues totaled NT$5.73 billion, down 17% from the same period last year.
