EQS-News: PIERER Mobility AG: Strong performance in the first half of 2022

EQS-News: PIERER Mobility AG / Key word(s): Half Year Results
   PIERER Mobility AG: Strong performance in the first half of 2022

   30.08.2022 / 07:00 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Corporate news

   Wels, August 30, 2022

   PIERER Mobility AG: Strong performance in the first half of 2022

     • Revenue: € 1,154.1 million (+7.1% vs. H1 2021)
     • EBIT: € 92.8 million (-9.6% vs. H1 2021)
     • Sales: 163,334 motorcycles (-7.2% vs. H1 2021)
     • Sales: 51,417 e-bicycles & bicycles (-3.7% vs. H1 2021)
     • Headcount increased by 768 to a total of 5,656 employees
     • Guidance for 2022 increased
        

   Development of sales and revenue in H1 2022 – Strong performance despite
   tougher supply chain issues

   In the first half of 2022, the PIERER Mobility Group increased group
   revenue by 7.1% to € 1,154.1 million (previous year: € 1,078.0 million).
   The EBIT of € 92.8 million in the reporting period was below the figure
   for the previous year of € 102.6 million.

   Against the backdrop of difficulties in the supply chain affecting both
   segments and the associated supply bottlenecks, the Motorcycle Division of
   PIERER Mobility AG sold a total of 163,334 KTM, Husqvarna and GASGAS
   motorcycles in the first six months of the financial year (previous year:
   176,045). Including the models sold by our partner Bajaj, unit sales in
   the first half of 2022 are therefore just 7.2% below the previous year. In
   the Bicycle Division, a total of 51,417 units were sold (-3.7%). Of these,
   34,829 were e-bicycles (previous year: 39,601) and 16,588 were
   conventional bicycles (previous year: 13,777) of the Husqvarna, GASGAS,
   FELT and R Raymon brands.

   In terms of unit sales, it was therefore not possible to fully meet demand
   in either segment in the first half of the year.  Due to backlogs of parts
   – especially in the area of electronics – motorcycles and also e-bicycles
   could not be fully assembled. These vehicles were therefore delayed in
   going on sale until the start of the second half of the year. Despite
   these tougher ongoing supply chain issues, a total of 198,163 Powered
   Two-Wheelers (PTWs - motorcycles and e-bicycles) were sold worldwide
   (-8.1% year-on-year).

   Growth was particularly strong in North America, where 44,689 motorcycles
   were sold. This represented an increase of 47% compared to the first half
   of 2021. In Europe, supply chain issues were particularly acute for PIERER
   Mobility AG, with 61,435 motorcycles sold in the first half of the year
   (-15% year-on-year). In Australia/New Zealand, 6,707 motorcycles were
   sold. In India, too, the lack of availability of parts led to a decline in
   the number of motorcycles sold to 18,251 units (previous year: 30,561).
   Although the entire motorcycle market was affected by supply chain issues
   and recorded slightly declining rates of growth in the first half of 2022,
   the PIERER Mobility Group was able to largely stabilize its market shares
   in the global markets.

   Development of market shares in the key markets

   The European motorcycle market recorded almost 400,000 registrations in
   the first six months of 2022, down slightly on the first half of 2021
   (-3%). The Netherlands (+20%), the United Kingdom (+13%) and Italy (+6%)
   showed positive growth rates, while in Germany demand declined slightly by
   -7% compared to the first half of 2021. In the European market,
   registrations of the three KTM, Husqvarna Motorcycles and GASGAS brands
   reached a combined market share of 9.9%. This represents a decrease of
   1.8% compared to December 31, 2021.

   In the US market, the largest single market for motorcycles for PIERER
   Mobility, the trend was similar to Europe, with a slight decrease of -4%
   in registrations in the first half of 2022 totaling 239,000 motorcycle
   registrations. In North America (USA, Canada), the current market share of
   the Group with its three motorcycle brands is 10.6% (end of 2021: USA:
   11.3%, Canada: 14.1 %).

   In addition to Europe and the USA, the Australian/New Zealand market
   (Oceania) also recorded a slight decrease of 4% in the first half of 2022
   compared to the same period last year, with approximately 35,000
   motorcycles registered, with PIERER Mobility's three brands stabilizing
   their market share at 19.0% (December 31, 2021: 19.7%).

   The key Indian motorcycle market recovered during 2022 with a 5%
   year-on-year increase (total registrations as of June 30, 2022: 440,000
   motorcycles), but at the same time there has been a decline in the market
   share of KTM and Husqvarna Motorcycles, the two brands represented in
   India, to 4% (December 31, 2021: 7%).

   As products increasingly become available from the second half of the
   year, the PIERER Mobility Group will strengthen its market presence in its
   target markets and expand its market shares in the relevant premium
   motorcycle segments.

   For the Bicycle Division, the most important sales markets are currently
   in Europe (Germany, Austria, France, Italy and Switzerland). In the period
   under review, most sales were made in the DACH region (68%) followed by
   the rest of Europe (15%) and other countries worldwide (17%), in
   particular in North America.

   Headcount increased by 768 which is now 5,656 employees

   As of June 30, 2022, the PIERER Mobility Group employed 5,656 people, with
   around 21% of them working in research & development. Compared to the
   first half of 2021, the Group was therefore able to increase its headcount
   by 768 people. Most of the new appointments were in production. When it
   comes to recruiting employees, there continues to be an increased focus on
   the various areas of production. The Group operates several sites in the
   central region of Upper Austria. As a modern employer, PIERER Mobility is
   taking measures to make the environment attractive to its workforce, such
   as new flexible shift models that meet the individual needs of employees.
   As part of an apprentice drive, around 70 more apprentices will begin
   their training this year. In total, the group is currently training around
   200 apprentices.

   New subsidiary in Taiwan

   To address the current supply chain issues in the bicycle sector, in June
   2022 PIERER E-Bikes GmbH established a subsidiary in Taiwan, PIERER
   E-Bikes Asia Ltd. It will provide significant support to the PIERER
   E-Bikes Group in its supply chain management and therefore reduce the
   procurement risk by providing direct access to the Asian market.

   Guidance for 2022 increased

   The Management Board has increased the guidance for 2022 and expects the
   2022 financial year to deliver revenue growth of between 10% and 15%
   (previously forecasted revenue growth for the 2022 financial year: 6 to
   10%). The EBIT margin of 8% to 10% and an EBITDA margin of between 15% and
   17% are confirmed.

   Group figures H1 2022 of PIERER Mobility AG (consolidated)

   KEY FINANCIAL PERFORMANCE INDICATORS:                               
                                                                  
   Earnings figures                           H1 2021    H1 2022   Chg.
   Revenue                            EURm    1,078.0    1,154.1   7.1%
   EBITDA                             EURm      171.2      162.3  -5.2%
   EBITDA margin                                15.9%      14.1%       
   EBIT                               EURm      102.6       92.8  -9.6%
   EBIT margin                                   9.5%       8.0%       
                                                                  
                                                                  
   OTHER FINANCIAL FIGURES:                                            
                                                                  
   Earnings and cash flow ratios              H1 2021    H1 2022   Chg.
   Earnings after taxes               EURm       78.3       68.2 -12.9%
   Free cash flow                     EURm       66.6     -146.2  <100%
                                                                  
   Balance sheet ratios                    12/31/2021 12/31/2022   Chg.
   Balance sheet total                EURm    2,033.7    2,256.8  11.0%
   Equity                             EURm      765.6      809.7   5.8%
   Equity ratio                                 37.6%      35.9%       
   Net debt                           EURm      189.9      383.2  >100%
   Gearing                                      24.8%      47.3%       
                                                                       
   Others                                     H1 2021    H1 2022   Chg.
   Capex^1)                           EURm       76.0      102.5  34.9%
   Employees                     Headcount      4,888      5,656  15.7%
                                  

   ^1) excluding lease additions (IFRS 16) in the amount of EURm 10.2
   (previous year: EURm 6.8)

   The half-year report for 2022 is now available on the company website at
   [1]https://www.pierermobility.com/en/investor-relations/reports. The
   current investor presentation can be found at.
   [2]https://www.pierermobility.com/en/investor-relations/presentation.

    

   About the Group

   PIERER Mobility AG is the holding company of Europe’s leading manufacturer
   of powered two-wheelers, producing a full range of premium brands
   including KTM, GASGAS and Husqvarna Motorcycles. With key strengths in
   innovation, PIERER Mobility is a pioneering technology leader in
   two-wheeled e-mobility through its motorcycle brands. Its Husqvarna
   E-Bicycles, GASGAS Bicycles, FELT Bicycles and R Raymon complement the
   two-wheeler segment. Rounding out the premium brand offering are
   high-performance components produced under the WP brand and KTM X-BOW
   high-end sports cars. In the 2021 financial year, PIERER Mobility AG
   achieved record sales of € 2.1 billion and EBIT of € 193.5 million, while
   employing more than 5,000 people.
    

   Legal Disclaimer

   THIS ANNOUNCEMENT DOES NEITHER CONSTITUTE AN OFFER TO SELL NOR AN
   /INVITATION TO SUBMIT A PROPOSAL FOR THE ACQUISITION OF SECURITIES OF
   PIERER MOBILITY AG. THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
   DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN
   THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER
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   Contact:

   Investor Relations

   Melinda Busáné Bellér,

   Tel: +43 1 533 1 433 - 70

   Email: ir@pierermobility.com

   Website: [3]www.pierermobility.com

    

   ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker
   Symbol: PMAG; Bloomberg: PMAG SE, PMAG GY; Reuters: PMAG.S

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   30.08.2022 CET/CEST This Corporate News was distributed 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:      Regulated Market in Frankfurt (General Standard); Regulated
                Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,
                Tradegate Exchange; SIX, Vienna Stock Exchange
   EQS News ID: 1430609

   Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PMAG, Bloomberg: PMAG
   SE, PMAG GY Reuters: PMAG.S

    
   End of News EQS News Service


   1430609  30.08.2022 CET/CEST

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