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.

   ══════════════════════════════════════════════════════════════════════════

   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

   ══════════════════════════════════════════════════════════════════════════

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

   ══════════════════════════════════════════════════════════════════════════

   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

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=22eb2acef6b31126366f8fd4e5fa4f46&application_id=1925891&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |

print