EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Annual Results
PIERER Mobility AG: Key financial figures for financial year 2024
28-May-2025 / 07:00 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.
The issuer is solely responsible for the content of this announcement.
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Ad hoc notification pursuant to Article 17 Regulation (EU) No 596/2014
(MAR)
Ad hoc announcement pursuant to Art. 53 LR
Wels, May 28, 2025
PIERER Mobility AG: Key financial figures for financial year 2024
• No significant deviations from the preliminary financial figures
already communicated
• Court confirms restructuring plans for KTM companies
• Restructuring gain of around €1.2 billion
• Outlook for 2025
• Significant decline in revenue expected due to six-month
interruption of operations
• EBIT clearly positive due to restructuring gain
• Positive equity restored
PIERER Mobility AG published preliminary results for the 2025 financial
year on January 23 and April 28, 2025. The final figures differ only
slightly, if at all, from the most recently published figures.
The 2024 annual financial report and the 2024 annual report, including the
non-financial statement, and the 2024 corporate governance report are
available from today on the company's website at www.pierermobility.com
under the following link:
(1)https://www.pierermobility.com/en/investor-relations/publications
Summary of revenue and earnings for the 2024 financial year
The PIERER Mobility Group generated consolidated revenues of €1,879
million (-29%) in 2024.
Due to a significant reduction in operating performance and one-off
restructuring expenses, the operating result (EBIT, EBITDA) for the 2024
financial year was clearly negative. EBITDA (earnings before interest,
taxes, depreciation, and amortization) amounted to around € -481 million.
EBIT (earnings from operating activities after depreciation and
amortization) amounted to around € ‑1,184 million. It includes necessary
value adjustments as part of the restructuring process as well as
impairments on intangible assets (including development costs) and
goodwill totaling around € ‑850 million.
The negative free cash flow of €776 million consequently increased net
debt to €1,643 million as of December 31, 2024. Equity was negative at
€194 million due to the results. Therefore, no dividend will be
distributed for the 2024 fiscal year.
As of December 31, 2024, the PIERER Mobility Group employed 5,310 people
(-14%).
Court confirms restructuring plans for KTM companies
As previously announced, the creditors of KTM AG, KTM Components GmbH, and
KTM Forschungs & Entwicklungs GmbH approved a restructuring plan with a
30% quota on February 25, 2025. The total and final amount required to
finance the quota under the three restructuring plans ultimately amounted
to €525 million and was transferred to the restructuring administrators on
time. The restructuring plans are expected to become legally binding in
June 2025, provided no appeals are lodged.
This results in a restructuring gain of 70% of the registered creditor
claims (at KTM AG, KTM Components GmbH, and KTM Forschungs & Entwicklungs
GmbH), i.e., approximately €1.2 billion. This restructuring gain is
effective in EBIT and will lead to positive EBIT in both the first half of
the year and the 2025 fiscal year. This will also restore equity to a
positive figure in the high triple-digit million range.
Outlook for 2025
The PIERER Mobility Group expects the economic environment to remain
challenging in the 2025 financial year. It will be shaped by the
restructuring process, which has now been successfully completed. The
loyal customer community, which, alongside the future product policy,
forms the basis for a successful restructuring, should be highlighted. The
past months have confirmed the demand for our products. By the end of
2025, management expects its own inventories and those of dealers and
importers to normalize.
The Management Board expects revenue for the 2025 financial year to be
below the level of 2024. The main reason for this is the production
interruptions totaling six months that occurred in the course of the
restructuring process. Full production is scheduled to resume at the end
of July, but the backlog cannot be compensated due to the seasonal nature
of the business.
Due to the lack of operating performance, a negative operating result is
expected, which, however, will turn significantly positive due to the
restructuring gain and lead to a stable equity structure. Despite the
difficult conditions, the sales volume achieved is encouraging and will
contribute to a reduction in inventories that is ahead of plan. This marks
an important step toward normalizing capital tie-up.
The investments made in recent years have secured the necessary production
capacity for the coming years. The existing locations, in particular the
main production sites in Mattighofen and Munderfing, are thus sustainably
secured. This will allow KTM to continue fulfilling its role as an
important employer in the region.
Final key figures 2024 of the PIERER Mobility Group (consolidated)
Earnings data 2023 2024 ∆
Revenue €m 2,661.2 1,879.0 -29.4%
EBITDA €m 323.5 -480.8 >-100%
EBIT €m 160.0 -1,184.2 >-100%
Result before taxes €m 92.1 -1,276.6 >-100%
Result for the financial year €m 76.4 -1,079.9 >-100%
Balance sheet data 2023 2024 ∆
Balance sheet total €m 2,952.9 2,395.8 -18.9%
Equity €m 909.3 -193.7 >-100%
Net debt €m 775.9 1,642.7 >100%
Other 2023 2024 ∆
CAPEX^1) €m 284.0 232.8 -18.0%
Employees as of December 31 Headcount 6,184 5,310 -14.1%
thereof in Austria Headcount 5,020 4,099 -18.3%
^1) excluding lease additions (IFRS 16) of € 39.2 million (previous year:
€ 32.5 million)
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 or +43 676 4093711
Email: (2)ir@pierermobility.com
Website:(3) https://www.pierermobility.com
ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker
Symbol: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI
End of Inside Information
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28-May-2025 CET/CEST News transmitted by EQS Group. 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: 2146522
Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
SW; PKTM AV Reuters: PKTM.S; PKTM.VI
End of Announcement EQS News Service
2146522 28-May-2025 CET/CEST
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