IN BRIEF
After Giant, Merida in turn reports a first half of 2026 in decline — with, Radmarkt writes, « Anzeichen einer Erholung in Sicht », signs of a recovery in sight. Taiwan’s second-largest bicycle manufacturer posts half-year revenue of 12.26 billion Taiwan dollars, or €329.97 million according to Radmarkt’s conversion, down 15.9% year on year. The second quarter, for its part, is almost back to last year’s level: TWD 6.94 billion, within 0.9%. And two markets are picking up again — China, with volumes up 12.5%, and above all the European subsidiaries, whose revenue rises 14%.
| Revenue, H1 2026 | 12.26 billion TWD (€329.97 million), −15.9% year on year |
| Revenue, Q2 2026 | 6.94 billion TWD (€186.72 million), −0.9% year on year |
| Net profit attributable to the parent, H1 2026 | 640 million TWD (€17.21 million) according to Radmarkt, 600 million TWD according to Bicycle Retailer |
| Net profit attributable to the parent, H1 2025 | 800 million TWD (€21.52 million) |
| China, H1 2026 | Revenue +6%, volumes +12.5% |
| European subsidiaries, H1 2026 | Revenue +14% |
| Cumulative to the end of July 2026 | −13.2% revenue |
| Headquarters and high-end production | Dacun Township, Changhua County (Taiwan) |
Taiwan’s bicycle industry is slowly working through its overstocks. Giant led the way earlier this month with a second quarter in growth, without erasing the half-year’s shortfall. Merida Industry, its neighbour and rival, now reports accounts that tell the same story: a half-year still heavily negative, and a quarter that has stopped falling.
Merida: a first half of 2026 still down 15.9%
Radmarkt, which follows the results published by Taiwanese manufacturers, notes half-year revenue « mit 12,26 Milliarden TWD (329,97 Millionen Euro) ebenfalls zweistellige 15,9 Prozent unter dem des vergleichbaren Vorjahres-Zeitraums » — a double-digit decline, in line with Giant’s. Bicycle Retailer, for its part, rounds to « NT$12.3 billion », against « NT$14.6 billion in the half last year ».
Earnings follow the same slope. Radmarkt reports net profit attributable to the parent « von 640 Millionen TWD (17,21 Millionen Euro) », while Bicycle Retailer writes « net profit attributable to the parent at NT$600 million ». Both cite the same point of comparison: « in 01-06/2025 war es noch ein Gewinn von 800 Millionen TWD (21,52 Millionen Euro) », Radmarkt writes, and « down from NT$800 million in the first half last year », writes Bicycle Retailer. Merida therefore remains profitable, with earnings sharply down.
The second quarter has stopped falling
This is the figure that gives Radmarkt’s article its headline: in the second quarter, Merida posted TWD 6.94 billion, « quasi auf dem Niveau von 04-06/2025 […] genau genommen 0,9 Prozent unter dem des vergleichbaren Vorjahres-Quartals ». Bicycle Retailer puts the movement in context: according to the outlet, « Merida Industry’s fortunes improved somewhat in the second quarter after a slow start to the year ».
Bicycle Retailer qualifies the picture: according to the outlet, « Merida has seen just one month of year-over-year revenue growth this year, in May, when revenues were up 18%. For the year to date through July, revenues were down 13.2%. » The outlet also recalls that Giant, which announced a jump in its quarterly profit, was still coming off a half-year down 10.5%.
Europe and China are picking up again
Merida describes a market « und hier vor allem in China und Europa » going through a correction in demand. But those are precisely the two areas driving the half-year’s rebound: in China, revenue and volumes rose by 6% and 12.5% respectively; in Europe, the group’s subsidiaries saw their half-year revenue rise 14%.
For the second half, the brand remains cautious: it expects a global bicycle market « in einem schrittweisen Anpassungs- und Erholungsprozess », an adjustment and recovery that will happen in stages. According to Radmarkt, a large part of the group’s research and development team is based in Germany, at Merida & Centurion Germany, the arm headed by Wolfgang Renner. Headquarters and high-end production, for their part, remain in Dacun Township, in Changhua County.
