EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Preliminary
Results/Personnel
PIERER Mobility AG: Preliminary key figures for the 2024 financial year,
Gottfried Neumeister to become CEO
23-Jan-2025 / 18:42 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.
The issuer is solely responsible for the content of this announcement.
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Ad hoc notification pursuant to Article 17 of Regulation (EU) No 596/2014
(MAR)
Ad hoc announcement pursuant to Art. 53 LR
Wels, 23 January 2025
PIERER Mobility AG: Preliminary key figures for the 2024 financial year,
Gottfried Neumeister to become CEO
• Revenue: around EUR 1.9 billion (-29%)
• Sales of motorcycles (to dealers): 292,497 motorcycles (-21%)
• Negative EBITDA due to operating losses and allowances
• Sustained strong end customer demand (retail)
• Stock reduction in full swing
• Stefan Pierer hands over CEO role to Gottfried Neumeister
Preliminary key financial figures 2024
From today's perspective, the PIERER Mobility Group expects consolidated
revenue of around EUR 1.9 billion in 2024 (previous year: around EUR 2.7
billion). This corresponds to a decrease of around 29% compared to the
2023 financial year.
Due to a significant reduction in operating performance and one-off
restructuring expenses, the Executive Board anticipates a negative EBITDA
(result from operating activities before depreciation and amortization) of
around EUR 300 million for the 2024 financial year (before necessary
allowances as part of the restructuring process). Expected impairments on
intangible assets and goodwill will have an additional negative impact on
EBIT (earnings before interest and taxes). Free cash flow will amount to a
high negative triple-digit million figure. As a result, net debt is also
expected to increase further in the second half of 2024.
Far-reaching restructuring measures
The 2024 financial year was characterized by far-reaching restructuring
measures. To date, a total of more than 1,800 employees have been cut
across the Group. In addition, production output was deliberately
curtailed to reduce the number of motorcycles held by dealers and
importers.
By reducing the production volume to around 230,000 motorcycles (-26%
compared to 2023), global inventories were relieved by around 40,000 units
(-18%). This represents an important first step in the restructuring plan.
Declining sales (to dealers), continued strong end customer demand
(retail)
In the 2024 financial year, the Group sold 292,497 motorcycles (of which
around 60,000 were sold via its Indian partner Bajaj), around 21% fewer
than in the previous year (372,511 motorcycles). Around 110,000
motorcycles were sold on the European market. Europe thus accounted for
38% of Group sales; North America accounted for 24%, India and Indonesia
(via partner Bajaj) for 21% and the remaining sales countries for 17%.
On a positive note, demand from consumers was strong. Distributors and
dealers sold around 268,000 motorcycles to retail customers, the same
level as last year. This demonstrates the continued high level of trust
that dealers and consumers place in the company. Recent racing successes
have confirmed this confidence. With three consecutive victories in the
Enduro World Championship, two Supercross season openers and the first
Dakar Rally win across all major motorcycle categories, the 2025
motorsport season has got off to a successful start.
In the Bicycle segment, the Group sold 106,311 electric bikes and bicycles
(previous year: 155,859), which corresponds to a decline of around 32%.
This decline in sales resulted from the sale of the R Raymon brand.
Stefan Pierer hands over CEO role to Gottfried Neumeister
Stefan Pierer will hand over the role of CEO of PIERER Mobility AG and KTM
AG to Gottfried Neumeister and will continue to support him as Co-CEO
during the restructuring process.
Financial calendar
Due to the ongoing reorganization proceedings of the main Group company
KTM AG, PIERER Mobility AG will probably publish its annual financial
report 2024 in the second half of April 2025. Accordingly, the 28th Annual
General Meeting and all related dates will also be postponed. As soon as
the exact dates are available, they will be updated on the website
https://www.pierermobility.com/en/investor-relations/financial-calendar.
For further information:
Investor Relations
Hans Lang & Melinda Busáné-Bellér
Tel: +43 676 4140945 or +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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23-Jan-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: 2073839
Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
SW; PKTM AV Reuters: PKTM.S; PKTM.VI
End of Announcement EQS News Service
2073839 23-Jan-2025 CET/CEST
References
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