EQS-Adhoc: PIERER Mobility AG:

EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Change in Forecast/Strategic
Company Decision
PIERER Mobility AG:

14-Jun-2024 / 17:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.

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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: [1] 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

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14-Jun-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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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

References

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