EQS-News: PIERER Mobility AG: KTM AG takes a pit stop for the future and prepares application for a judicial restructuring proceeding with self-administration

EQS-News: PIERER Mobility AG / Key word(s): Restructure of Company
   PIERER Mobility AG: KTM AG takes a pit stop for the future and prepares
   application for a judicial restructuring proceeding with
   self-administration

   26.11.2024 / 14:02 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   CORPORATE NEWS       

   Wels, November 26, 2024

    

   PIERER Mobility AG: KTM AG takes a pit stop for the future and prepares
   application for a judicial restructuring proceeding with
   self-administration

    

   As reported, KTM AG is in the process of implementing restructuring
   measures due to high financing needs. The management of KTM AG assumes
   that it will not be possible to secure the necessary interim financing in
   a timely manner.

    

   The Executive Board of KTM AG therefore decided to file the application
   for the initiation of judicial restructuring proceedings with
   self-administration over the assets of KTM AG and its subsidiaries KTM
   Components GmbH and KTM F&E GmbH on November 29, 2024.

    

   The proceedings give the opportunity to continue to manage the assets
   under supervision and to reorganize the KTM Group independently. All other
   subsidiaries of KTM AG, in particular all sales companies, are not
   affected.

    

   The aim of the proceedings is to agree a reorganization plan with the
   creditors within 90 days. A redimensioning is intended to sustainably
   secure the existence of the KTM Group and to create the basis for emerging
   strengthened from the process.

    

   Stefan Pierer, CEO of KTM AG: “Over the past three decades, we have grown
   to become Europe's largest motorcycle manufacturer. We inspire millions of
   motorcycle riders around the world with our products. Now we are taking a
   pit stop for the future. The KTM brand is my life's work, and I will fight
   for it.”

    

   Making KTM robust for the future

    

   Since September 2024, Gottfried Neumeister has joined the Executive Board
   as Co-CEO. Stefan Pierer: “Gottfried Neumeister has brought impressive
   experience and a breath of fresh air and has made a significant
   contribution to addressing the current situation. I am convinced that
   together we will get the company back on track for success.”

    

   Gottfried Neumeister, Co-CEO of KTM AG: “The enthusiasm of our employees
   is our most important competitive advantage. Their passion is the reason
   why KTM is globally synonymous with peak performance. We build our
   motorcycles reliably and robustly for every race, for every terrain. Now
   it’s about making the company robust. Robust for the future. So that we
   can quickly focus again on what we do best: building the coolest
   motorcycles in the world.”

    

   Bold and profound measures

    

   For the success of the restructuring proceedings, a restructuring plan
   must be agreed upon with the creditors. Stefan Pierer: “The core
   shareholders stand by KTM and PIERER Mobility and its stock market
   listing. The goal is clear: KTM should emerge stronger from this difficult
   time.”

    

   Contact Investor Relations

   Hans Lang & Melinda Busáné-Bellér

   Tel: +43 676 4140945 & +43 676 4093711

   Email: ir@pierermobility.com

   Website: [1]https://www.pierermobility.com

    

   ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker
   Symbol: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI

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   26.11.2024 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:      SIX, Vienna Stock Exchange
   EQS News ID: 2038665

   Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
   SW; PKTM AV Reuters: PKTM.S; PKTM.VI

    
   End of News EQS News Service


   2038665  26.11.2024 CET/CEST

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