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    EQS-News  117  0 Kommentare PIERER Mobility adjusts guidance and responds to tougher global conditions

    EQS-News: PIERER Mobility AG / Key word(s): Change in Forecast/Strategic Company Decision
    PIERER Mobility adjusts guidance and responds to tougher global conditions

    14.06.2024 / 17:55 CET/CEST
    The issuer is solely responsible for the content of this announcement.


    Corporate News

    Wels, June 14, 2024

     

    PIERER Mobility adjusts guidance and responds to tougher global conditions

     

    • Sales fall short of expectations due to persistently high interest rates in the USA and volatile market environment in Europe
    • Comprehensive package of measures being implemented:
      • Tighter cost management and reduction of production volumes in Austria
      • Expansion of the supply chain in India and China
      • Realignment of the bicycle division
    • Adjustment of guidance for the 2024 financial year

     

     

    Sales fall short of expectations due to persistently high interest rates in the USA and the volatile market environment in Europe

     

    In the current financial year, momentum in PIERER Mobility's core motorbike 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. The PIERER Mobility Group is therefore continuing its efforts to strengthen its dealer structure through extended payment terms and higher discounts. These measures have already led to a sharp increase in working capital in the past financial year. Management expects working capital and the associated capital commitment to remain high in 2024. This is expected to have a significant negative impact on EBIT and the financial result in the current financial year.

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    EQS-News PIERER Mobility adjusts guidance and responds to tougher global conditions EQS-News: PIERER Mobility AG / Key word(s): Change in Forecast/Strategic Company Decision PIERER Mobility adjusts guidance and responds to tougher global conditions 14.06.2024 / 17:55 CET/CEST The issuer is solely responsible for the content of …

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