PIERER Mobility: Refining Strategy and Adjusting Guidance for Growth

• PIERER Mobility AG is focusing more on its core powered two-wheelers business and premium brands KTM, GASGAS, Husqvarna, and MVAgusta.
• The company is selling the Raymon and FELT brands and divesting the non-e-bike division. The sale of the R Raymon brand is expected to close by the end of 2023, and the sale of the FELT brand is expected to close in the first half of 2024.
• PIERER Mobility AG is partially relocating production and R&D activities to China (CFMOTO) and India (Bajaj Auto) due to unfavorable economic conditions in Europe. This move is expected to result in a reduction of up to 300 employees at the Austrian locations in 2024.
• The company is adjusting its 2023 guidance due to increased costs of dealer inventories and the reorientation of the bicycle business. The Board of Directors expects sales growth for the 2023 financial year of 7% to 9% with an EBIT margin of between 5% and 7%.
• The global economic environment is expected to be difficult in the 2024 financial year. PIERER Mobility Group plans to implement cost-cutting measures in the double-digit million range in 2024. The Board of Directors expects sales to remain almost unchanged and an EBIT margin of 5% - 7% in 2024.
• PIERER Mobility AG is a leading manufacturer of powered two-wheelers in Europe, producing a range of premium brands including KTM, GASGAS, and Husqvarna Motorcycles. The company is also a technology leader in two-wheeled e-mobility.

The price of PIERER Mobility at the time of the news was 61,50EUR and was up +1,82 % compared with the previous day.
10 minutes after the article was published, the price was 59,20EUR this corresponds to a minus of -3,74 % since publication.

PIERER Mobility

+0,26 %

-5,80 %

-19,34 %

-24,16 %

-50,07 %

-48,02 %

-28,02 %

-83,34 %

ISIN:AT0000KTMI02WKN:A2JKHY

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