EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Forecast change/Strategic company decision PIERER Mobility adjusts guidance for 2024 June 14, 2024 / 5:48 p.m. CET/CEST Publication of inside information in accordance with Article 17 of Regulation (EU) No. 596 /2014, transmitted by EQS News – a service of EQS Group AG. The issuer/publisher is responsible for the content of the message. ════════════════════════════════════════ ══════════ ════════════════════════ Ad hoc notification in accordance with Article 17 of Regulation (EU) No. 596/2014 (MAR) Ad hoc notification in accordance with Art. 53 KR Wels, June 14, 2024 PIERER Mobility adjusts guidance for 2024 In the current financial year, the dynamics in PIERER Mobility’s core motorcycle markets in the USA and Europe have slowed significantly. Due to the recent interest rate decisions in the USA, interest rates are expected to remain high, which will weigh on sales expectations for the American market. Likewise, sales figures in Europe continue to be volatile. Overall, after three above-average successful years, PIERER Mobility’s sales figures will be below expectations this year. This means that dealers will reduce their inventory levels and thus continue to tie up considerable capital. As a result of this, as well as extended payment terms and higher discounts, a significant burden on EBIT and the financial result is expected in the current financial year. During the Corona pandemic, demand for bicycles rose rapidly, leading to overheating in the bicycle market and disruptions throughout the supply chain. As a result, our own inventories and those of suppliers and dealers reached record highs. The return of these inventories to normal levels continues, with massive pressure on sales prices at the same time. Due to these developments, the extraordinary need for devaluation and restructuring will lead to a significantly negative result in the Bicycle segment in 2024. Adjustment of the guidance for the 2024 financial year For the 2024 financial year, the Management Board expects a decline in sales of 10% to 15% for the two segments of motorcycle and bicycle due to market developments. In the motorcycle sector, the Management Board assumes for the current financial year that the cost savings introduced can compensate for the negative effects of declining sales to the extent that a balanced to slightly positive EBIT can be generated. The development of existing dealers as well as the further expansion of the dealer network to support the brand strategy is the core topic in 2024. In the bicycle sector, however, the management board expects a significantly negative EBIT of € -110 to € -130 million for the 2024 financial year, which is This is essentially due to the extraordinary need for devaluation and restructuring mentioned above. This completes the restructuring of the bicycle area. Legal notice THIS NOTIFICATION CONSTITUTES NEITHER AN OFFER TO SELL SECURITIES NOR A REQUEST TO MAKE AN OFFER TO PURCHASE SECURITIES OF PIERER MOBILITY AG. IT IS NOT INTENDED FOR DISTRIBUTION, TRANSMISSION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER COUNTRY WHERE DISTRIBUTION OF THIS ANNOUNCEMENT IS UNLAWFUL. For further information: Investor Relations Mag.a Melinda Busáné Bellér Tel.: +43 (0) 1 533 1 433 – 70 Email: (1)ir@pierermobility.com
Website: (2) www.pierermobility.com
ISIN: AT0000KTMI02; Valor number (Switzerland) 41860974; Securities symbol: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI End of inside information ══════════════════════════════════ ════ 06/14/2024 CET /CEST notification transmitted by EQS Group AG.
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════════════════════════════════════════ ══════════ ════════════════════════ Language: German Company: PIERER Mobility AG Edisonstrasse 1 4600 Wels Austria Telephone: +43 (0) 7242 69 402 Email :ir@pierermobility.com
Internet: www.pierermobility.com
ISIN: AT0000KTMI02 WKN: A2JKHY Exchanges: SIX, Vienna Stock Exchange EQS News ID: 1925891 Security number (Switzerland): 41860974 Securities code: PKTM Bloomberg: PKTM SW; PKTM AV Reuters: PKTM.S; PKTM.VI End of message EQS News Service 1925891 June 14, 2024 CET/CEST References Visible links 1. ir@pierermobility.com
2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=22eb2acef6b31126366f8fd4e5fa4f46&application_id=1925891&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news