PIERER MOBILITY AG 
EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Change in Forecast/Strategic Company Decision Ad hoc announcement pursuant to article 17 Regulation (EU) No 596/2014 (MAR) Ad hoc announcement pursuant to article 53 LR
Wels, June 14, 2024
PIERER Mobility adjusts guidance for 2024
In the current financial year, momentum in PIERER Mobility's core motorcycle markets in the USA and Europe has slowed significantly. Due to the latest interest rate decisions in the USA, interest rates are expected to remain high, which will have a negative impact on sales expectations for the American market. Sales figures in Europe are also still volatile. Overall, PIERER Mobility's sales figures will fall short of expectations this year after three years of above-average success.
This means that dealers will have to reduce their inventories and thus continue to tie up considerable capital. Together with extended payment terms and higher discounts this is expected to have a significant negative impact on EBIT and the financial result in the current financial year.
During the coronavirus pandemic, demand for bicycles rose rapidly, leading to overheating in the bicycle market and disruptions throughout the entire supply chain. As a result, our own stocks and those of suppliers and dealers reached record levels. The reduction of these inventories to a normal level is continuing, while at the same time massive pressure is being exerted on sales prices Due to these developments, the extraordinary impairment and restructuring requirements in 2024 will lead to a significantly negative result in the Bicycles segment.
Adjustment of the guidance for the 2024 financial year
For the 2024 financial year, the Executive Board expects a decline in sales of 10% to 15% for both the motorcycles and bicycle divisions due to the current market developments.
In the Motorcycles division, the Executive Board assumes that the cost savings introduced in the current financial year will be able to compensate for the negative effects of declining sales to such an extent that a balanced to slightly positive EBIT can be generated. The development of existing dealers and the further expansion of the dealer network to support the brand strategy will be key issues in 2024.
In the Bicycle division, however, the Executive Board anticipates a significantly negative EBIT of € -110 to € -130 million for the 2024 financial year, which is essentially due to the above-mentioned extraordinary impairment and restructuring requirements. The restructuring of the Bicycle division is therefore complete.
Legal disclaimer
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.
Contact: Investor Relations Melinda Busáné Bellér Tel: +43 (0) 1 533 1 433 - 70 Email: ir@pierermobility.com Website: 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
14-Jun-2024 CET/CEST News transmitted by EQS Group AG. 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: | 1925891 |
| Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM SW; PKTM AV Reuters: PKTM.S; PKTM.VI |
| End of Announcement | EQS News Service |
1925891 14-Jun-2024 CET/CEST
