Pierer share still in red: Pierer Mobility increases motorcycle and bicycle sales – record year expected
The Pierer Mobility AG of the entrepreneur Stefan Pierer expects “another record year” for 2021.
The sales and margin forecasts were increased according to a statement on Tuesday evening. The reason for this is a significant increase in sales of (e-) bicycles and motorcycles.
The company reported that sales of machines rose by 23 percent to 332,881 units. In Europe, sales were around 120,000 motorcycles and around two thirds of the motorcycles were sold in markets outside Europe – particularly in North America, India and Australia.
In the case of bicycles, there was an increase of 40 percent to 102,753 units. Of these, 76,916 were electric models (plus 37 percent).
The sales forecast is increased to a good 2 billion euros (instead of 1.9 to 2 billion euros). The EBIT margin is now expected to be between 9 and 9.5 percent (instead of 8 to 9 percent). The manufacturer of KTM motorcycles plans to publish official figures on February 1st.
In the past fiscal year, Pierer’s group of industrialists
Pierer and her Indian partner Bajaj also simplified their investment structure. The Bajaj Group brought its share in KTM AG into the Pierer Group. This concluded a EUR 895 million capital increase in kind at the listed Pierer Mobility AG. Their stake in KTM AG is now 98.2 percent.
Pierer Mobility had issued 11,257,861 new shares through a capital increase in kind. Only PTW Holding AG, owned by the Pierer Group, was permitted to subscribe. In return, it contributed its 46.5 percent stake in KTM AG as a contribution in kind to Pierer Mobility. The direct participation of Pierer Mobility in the operative KTM AG rose from just under 52 to a good 98 percent.
In the Swiss trade, Pierer titles temporarily lose 0.54 percent to 91.50 francs.