Preliminary key figures for the 2024 financial year, Gottfried Neumeister to become CEO
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EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Preliminary Results/Personnel 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
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: 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
23-Jan-2025 CET/CEST News transmitted by EQS Group. www.eqs.com |
| 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 |
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2073839 23-Jan-2025 CET/CEST
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