EQS-News

PIERER Mobility confirms revenues and earnings in 2023

EQS-News: PIERER Mobility AG / Key word(s): Annual Results PIERER Mobility confirms revenues and earnings in 2023 27.03.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

Ad hoc announcement pursuant to article 53 LR           

 

Wels, March 27, 2024

 

PIERER Mobility confirms revenues and earnings in 2023

• Revenues: EUR 2,661 million (+9.2 %)
• EBIT: EUR 160 million (previous year: EUR 235 million)
• EBITDA: EUR 323.5 million (-15.1 %)
• Unit sales: motorcycles 381,555 (+1.6 %)
• Unit sales: bicycles 157,358 (+33 %)
• Employees: 6,184 (+1.6 %)
• 2024 outlook

 

Revenues and earnings in the 2023 financial year

The PIERER Mobility Group increased group revenue by 9.2 % to € 2,661.2 million (previous year: € 2,437.2 million) in the 2023 financial year despite difficult economic conditions and upheaval in the bicycle industry. Earnings before interest and taxes (EBIT) fell by around 32 % to € 160.0 million (previous year: € 235.3 million). This corresponds to an EBIT margin of 6.0 %. At € 323.5 million, EBITDA was around 15 % below the previous year’s figure. The EBITDA margin is 12.2 %.

As already reported, the Executive Board, in agreement with the main shareholder Pierer Bajaj AG, will propose to the Supervisory Board and the Annual General Meeting a dividend of € 0.50 per dividend-bearing share for the 2023 financial year on the basis of the result achieved.

In the 2023 financial year, € 284.0 million was invested in further growth, of which around € 195.1 million was invested in product development & tools, € 88.9 million in plant & infrastructure. The research budget was 9.2 % of revenue in the year under review. As in previous years, significant investments were made mainly in development projects and the purchase of tools and equipment in 2023. As a result of measures such as supporting the dealer structure and stabilizing the financial situation of some critical suppliers, the negative free cash flow, which amounted to € -413.0 million (previous year: € -2.8 million) in 2023, was deliberately accepted. Thanks to the strong equity base and long-term financing, sufficient liquidity reserves are available on a sustainable basis. The equity ratio as at the reporting date was 30.8%.