• Offensive with HUSQVARNA E-Bicycles in Europe
  • Integration GASGAS

PIERER Mobility AG announces, that the guidance for the business year 2020 will be amended. A major reason is the early and complete takeover of the e-bicycle business (PEXCO) into the newly founded HUSQVARNA E-Bicycles at the end of 2019 as well as the integration of GASGAS.

For the business year 2020 a revenue growth of 8 - 10 % is expected. As a result of the expansion into the electric 2-wheeler activities and the integration of the third motorcycle brand GASGAS, an EBIT margin between 6 - 8 % for the business year 2020 is temporary expected. Due to the operating earnings before depreciation (EBITDA), which remains at a high level, a positive free cash flow between 45 to 55 m€ is also anticipated for the business year 2020. For the upcoming years, a sustainable positive free cash flow between 3 - 5 % of sales is expected.

The previously published guidance 2020/2021 is no longer valid.

Preliminary financial figures for the financial year 2019 will be published earlier on January 30, 2020 (after the close of trading on the stock exchange).

Guidance 2020
Revenue growth (p.a.) 8 - 10%
EBIT margin
 6 - 8%
EBITDA margin
 14 - 16%
CAPEX 1) in EUR (incl. leasing) ~160 million
Gearing 55 - 65%
Net Debt / EBITDA 1.6 - 1.8x
Free Cash Flow in EURm 45 - 55 million
Dividend policy Stable and conservative payout level

1) Definition: Additions of property, plant & equipment (PP&E) and intangible assets according to the fixed assets schedule

About the Group
The PIERER Mobility Group is Europe's leading manufacturer of 'powered two-wheelers' (PTW). With its globally known motorcycle brands KTM, HUSQVARNA and GASGAS, it is one of the technology and market leaders, especially for premium motorcycles. All drive technologies - from combustion engines to electric motors - are produced in series and are used. As a pioneer in electromobility for two-wheelers in the low-voltage range (48 volts) the group and its strategic partner Bajaj have the prerequisites to assume a leading global role. Thanks to our innovative strength, we see ourselves as the technology leader in the two-wheeler sector in Europe. The strategic partnership with Bajaj, India's second largest motorcycle manufacturer, strengthens competitiveness in global markets.

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THIS ANNOUNCEMENT DOES NEITHER CONSTITUTE AN OFFER TO SELL NOR AN INTIMATION TO SUBMIT A PROPOSAL FOR THE ACQUISITION OF SECURITIES OF PIERER MOBILITY AG. THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

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PIERER Mobility AG published this content on 30 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2020 16:59:02 UTC