The Giant Group saw its revenues increased by 14.6 percent to 19.47 billion Taiwan dollars (€578.1m-$682.8m) in the third quarter. The growth was primarily driven by the surge in the demand for bicycles and e-bikes in key markets due to the pandemic, with consumers increasingly using bikes for health and fitness purposes and e-bikes for commuting, the company said. Earnings per share in the third quarter jumped by 45 percent.
For the first three quarters of the year, revenues were up by 10 percent. After-tax profits grew by 10.1 percent as compared to the first three quarters of last year, and reached NT$ 3.63 billion (€107.8m-$127.3m). Europe, the U.S., China, Japan, and South Korea delivered strong double-digit revenue growth in their own currencies in the first three quarters.
E-bikes now account for 27 percent of the group’s total revenues. The company plans to further expand its e-bike production, adding new models and implementing new technologies.
