EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Restructure of
Company/Liquidity Problem
PIERER Mobility AG: Far-reaching restructuring and additional liquidity
requirement at KTM AG
12-Nov-2024 / 20:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement pursuant to article 17 Regulation (EU) No 596/2014
(MAR)
Ad hoc announcement pursuant to article 53 LR
Wels, November 12, 2024
PIERER Mobility AG: Far-reaching restructuring and additional liquidity
requirement at KTM AG
In the course of liquidity planning for the 2025 financial year, PIERER
Mobility AG has to cover additional liquidity requirements at the level of
KTM AG. As of June 30, 2024, the KTM AG Group was responsible for more
than 95% of PIERER Mobility AG's revenue.
Ongoing discussions with core shareholder Pierer Bajaj AG and major
financial creditors of KTM AG on financial restructuring
The Executive Board is currently working on securing the financing of KTM
AG, in particular on a bridge financing in the three-digit million range.
To this end, discussions are ongoing both with the core shareholder Pierer
Bajaj AG and with existing financial creditors. The aim is to agree a
standstill agreement with the financial creditors involved for the
duration of these discussions as basis for the financial restructuring.
The negotiations and discussions are currently at an early stage. It is
therefore not yet possible to make any concrete statements about the
outcome of the negotiations, the conditions and the size of an additional
financing.
Far-reaching restructuring necessary at KTM AG level
In addition to securing liquidity, the Executive Board is endeavouring to
put KTM AG back on a stable operational and financial basis. Against the
backdrop of a challenging economic environment, an even more far-reaching
operational restructuring is being driven forward with the aim of reducing
inventories at both KTM AG and the dealer level to an economically
sustainable level by significantly reducing production volumes.
Furthermore, overheads are also to be significantly reduced once again.
The aim is to stabilize costs and sales at a redimensioned level from the
2025 financial year and thus create the basis for sustainable
competitiveness and profitability.
Further information will be published in due course.
Legal notice
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE OR A
SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF PIERER MOBILITY AG. IT
IS NOT FOR DISTRIBUTION, TRANSMISSION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.
For further information:
Investor Relations
Hans Lang & Melinda Busáné-Bellér
Tel: +43 676 4140945 respectively +43 676 4093711
Email: ir@pierermobility.com
Website: (1)https://www.pierermobility.com
ISIN: AT0000KTMI02; security number (Switzerland): 41860974; securities
code: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI
End of Inside Information
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12-Nov-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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Language: English
Company: PIERER Mobility AG
Edisonstrasse 1
4600 Wels
Austria
Phone: +43 (0) 7242 69 402
E-mail: ir@pierermobility.com
Internet: www.pierermobility.com
ISIN: AT0000KTMI02
WKN: A2JKHY
Listed: SIX, Vienna Stock Exchange
EQS News ID: 2028485
Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
SW; PKTM AV Reuters: PKTM.S; PKTM.VI
End of Announcement EQS News Service
2028485 12-Nov-2024 CET/CEST
References
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