- 28.08.2025, 06:57:53
- /
- EQS0002
EQS-Adhoc: PIERER Mobility AG: Results for the first half of 2025
EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Half Year Results/Forecast
PIERER Mobility AG: Results for the first half of 2025
28-Aug-2025 / 06:57 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.
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
Ad hoc announcement pursuant to Article 17 of Regulation (EU) No. 596/2014
(MAR)
Ad hoc announcement pursuant to Art. 53 KR
Wels, August 28, 2025
PIERER Mobility AG: Results for the first half of 2025
• KTM restructuring proceedings successfully completed
• Restructuring profit of € 1,187 million
• Positive equity
• Net debt more than halved
• Efficiency improvement program initiated
• Sale of MV Agusta and KTM X-BOW
• Wind down the bicycle business by the end of 2025
• Operational turnaround plan for motorcycles being developed and
put to action
• Resumption of production at the end of July 2025
• Encouraging end-customer demand: dealers sold >100,000 motorcycles to
retail
• € 166 million in liquidity was released through a reduction in
inventory
• Free cash flow increased by € 576 million compared to last year
H1 2025 was marked by the restructuring proceedings within the KTM Group,
which have now been successfully completed. These proceedings had a
significant impact on all aspects of the Group.
Restructuring proceedings successfully completed
As previously reported on several occasions, KTM AG and two of its
subsidiaries successfully completed the insolvency restructuring
proceedings in June 2025. The affected KTM companies deposited the
agreed-upon quota of 30% of the recognized claims with the restructuring
administrators on time. The majority of the payments had already been made
by the restructuring administrators as of the balance sheet date of
June 30, 2025.
The successful completion of the restructuring proceedings generated a
restructuring profit of 70% of the registered creditor claims, or € 1,187
million, in H1 2025.
Journey of turnaround commences
Although the restructuring process has been successfully completed from a
legal perspective, it will continue within the Group. To put the Group on
a sustainable path to success, it is focusing on its motorcycle business;
the bicycle business is being wound down.
The sale of the majority stake in MV Agusta was completed on July 9, 2025
(closing). Consequently, the shares in the company are still classified as
"held for sale" at the end of the first half of the year. In early June, a
term sheet was signed to sell the KTM X-BOW business to an international
investor group. In the meantime, a corresponding binding sales agreement
has also been signed.
Production resumed at the end of July 2025
Production in Austria had been suspended for most of the first half of the
year due to limited liquidity during the restructuring proceedings.
Temporary reductions in working hours and compensation allowed for the
retention of valuable employees while personnel expenses were reduced as
much as possible. However, halting production was also a central component
of the restructuring plan to reduce global inventories.
At the end of July 2025, KTM AG resumed production on all four lines in
Austria.
Results for H1 2025
H1 2024 H1 2025 ∆
Revenue in €m 1,007 425 -57.8%
EBITDA in €m -102 1,003 > +100%
EBIT in €m -195 930 > +100%
Net income in €m -172 739 > +100%
Employees as of June 30 headcount 6,024 4,303 -28.6%
Dec. 31, 2024 June 30, 2025 ∆
Total assets in €m 2,396 1,968 -17.9%
Equity in €m -194 532 > +100%
Equity ratio -8.1% 27.0% +35.1pp
Working capital employed in €m 525 403 -23.3%
Net debt in €m 1,643 756 -54.0%
Gearing -847.9% 142.2% +990.1pp
The PIERER Mobility Group's revenue decreased by 57.8% year-over-year,
reaching € 425 million. Of this revenue, 46.5% was generated in Europe,
32.4% in North America and 21.1% in other markets. The restructuring
profit led to positive earnings figures. EBITDA reached € 1,003 million,
EBIT € 930 million, and the profit for the period amounted to € 739
million.
Due to the restructuring profit, equity amounted to € 532 million as of
June 30, 2025, and is positive again with an equity ratio of 27%. Compared
to the previous year, net debt more than halved after the restructuring
quota was fulfilled and now stands at € 756 million (December 31, 2024:
€ 1,643 million). The primary sources of financing in H1 2025 were a € 450
million restructuring loan granted by Bajaj Auto International Holdings BV
and a € 350 million shareholder loan from Pierer Bajaj AG.
In connection with the restructuring and reorganization activities, the
Group's headcount decreased by 1,721 in the last twelve months. With the
sale of MV Agusta at the beginning of July, the headcount decreased by an
additional 220. The Group is now looking to recruit qualified specialists
and managers, particularly at its headquarters in Upper Austria.
Motorcycle segment
The Motorcycle segment generated 87% of the PIERER Mobility Group's
external revenue.
H1 2024 H1 2025 ∆
External revenue in €m 936 372 -60.3%
EBITDA in €m 11 1,038 > +100%
EBIT in €m -78 966 > +100%
Sales units 147,496 85,284 -42.2%
of which via Bajaj Auto units 32,351 34,950 +8.0%
The PIERER Mobility Group sold 50,334 motorcycles in H1 2025 (previous
year: 115,145). Additionally, 34,950 motorcycles were sold through the
Group’s strategic partner Bajaj Auto (previous year: 32,351). Sales in
India were particularly encouraging, rising by more than 8% compared to
the previous year. This is the result of the excellent partnership with
Bajaj Auto and proof of customer confidence in the KTM brand. Overall, the
Group sold 85,284 motorcycles (previous year: 147,496 units). The 42.2%
decline in total sales was mainly due to the restructuring proceeding at
KTM AG and the production stoppage. Additionally, the company deliberately
held back on delivering and selling new models to allow time for the
market to reduce global inventories. The reduced inventory level and the
resulting lower capital commitment positively impacted the Group's
liquidity.
The sales figures reported by dealers to end customers were encouraging,
exceeding the company's own expectations with more than 100,000
motorcycles sold. Together with reduced production output, the Company's
own inventories and those of dealers and importers were significantly
reduced in H1 2025, and efficiency was increased along the entire supply
chain. PIERER Mobility thus confirms its strong position in the global
motorcycle market.
External revenue in the motorcycle segment declined by 60.3% year-on-year
to € 372 million. Due to the restructuring profit, EBITDA was positive at
€ 1,038 million, and EBIT was positive at € 966 million.
Bicycle segment
The bicycle segment generated 12% of the PIERER Mobility Group's external
sales.
H1 2024 H1 2025 ∆
External revenue in €m 69 52 -24.4%
EBITDA in €m -115 -11 n.m.
EBIT in €m -117 -11 n.m.
Sales units 53,820 50,107 -6.9%
of which electric bicycles units 28,771 44,860 +55.9%
In the bicycle segment, the Group sold 50,107 bicycles (electric bicycles
and bicycles) in H1 2025. This means that the wind-down of the electric
bicycle business proceeded much faster and more successfully than planned.
The sale-off also positively impacted the Group's liquidity. The Husqvarna
and GASGAS bicycle brands will be sold out by the end of 2025.
External revenue in the bicycle segment declined by 24.4% to € 52 million.
Operating losses were significantly reduced, with EBITDA and EBIT at € -11
million in H1 2025.
Outlook
Based on the results of the first half of the year 2025, the lack of
operating performance for six months, the conscious decision to sell fewer
motorcycles to dealers, and the ongoing challenging economic environment,
the Executive Board expects revenue for the 2025 financial year to be
significantly below the level of the previous financial year. In order to
give the market the opportunity to further reduce dealer inventories in
financial year 2026, fewer motorcycles will be produced and sold in 2026
than in 2024. At the same time, some of the cost-cutting measures that
have been introduced will require more time to implement and take effect.
Therefore, EBITDA for financial year 2026 is expected to be positive; a
positive EBIT will be feasible in the 2027 financial year. The EBIT of the
financial year 2025 will be significantly positive due to the
restructuring profit realized. Rebuilding and maintaining strong supplier
relationships is crucial for the successful continuation of production and
remains challenging. The untimely availability of individual components
can disrupt the production ramp-up process at any time.
The investments made in recent years have secured the necessary production
capacities for the coming years. It is expected that this will enable
significantly reduced investments until operational profitability is
achieved, without impairing the Group’s substance or future viability.
The 2025 Half-Year Financial Report is available on the Company's website
at the following link:
[1]https://www.pierermobility.com/en/investor-relations/publications
Legal notice
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.
For further information:
Investor Relations
Hans Lang & Melinda Busáné Bellér
Tel: +43 676 4140945 or +43 676 4093711
Email: [2][email protected]
Website: [3]https://www.pierermobility.com/en
ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker
Symbol: PKTM;
Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI
End of Inside Information
══════════════════════════════════════════════════════════════════════════
28-Aug-2025 CET/CEST News transmitted by EQS Group. www.eqs.com
══════════════════════════════════════════════════════════════════════════
Language: English
Company: PIERER Mobility AG
Edisonstrasse 1
4600 Wels
Austria
Phone: +43 (0) 7242 69 402
E-mail: [email protected]
Internet: www.pierermobility.com
ISIN: AT0000KTMI02
WKN: A2JKHY
Listed: SIX, Vienna Stock Exchange
EQS News ID: 2189766
Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
SW; PKTM AV Reuters: PKTM.S; PKTM.VI
End of Announcement EQS News Service
2189766 28-Aug-2025 CET/CEST
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=2189766&application_name=news&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf
References
Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=e7fb92b3fe53ee6f82027390904f2506&application_id=2189766&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
2. mailto:[email protected]
3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=0498a9ca688fd520cf382c3cabfa8607&application_id=2189766&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=newsOTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |
