Although it’s pretty tricky to discern what any sort of net profit was made, by any stretch 2021 was clearly a big year for Shimano.

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By ben_haworth

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Shimano’s 2021 operating income up over 80% over 2020

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Net sales up when you’ve excluded the fishing department? How can that be?

LOLOLOLOL

Isn’t one of the reasons for the upswing in Op income due to Shimano’s main Malaysia factory returning to full capacity after covid controls limited the workforce size to 60% of usual headcount?

Income and sales figures mean nowt without margin numbers. That said I’m sure they’re not turning a loss!

Means nothing as said let’s see margins and ponder so what? Do we not need Shimano to turn a profit?

Operating income is a measure of profit (pretty much profit before interest & tax), so if sales are up 49% and operating income up 82.7%, then profitability has increased.

then profitability has increased.

Could be.
Could also be that pandemic costs, R&D etc have risen..but not sure by that much!

As others say, almost all businesses contracted in terms of income due to COVID, bar those that benefited from COVID (peleton, PPE manufacturers and the likes), so you’d expect them to be up on last year, and again, you’d expect another climb this year to catch up on the order book.

Every time my old job had a bad year, we’d blame it all on environmental impacts, unique competitor events, and demographics. Then when we reverted to the mean, we’d celebrate how ****ing awesome we were and what a huge success it was.

Obviously this isn’t just a reversion to the mean but put all the figures over a 10 year span and things will make some sense.