DGAP-News: PIERER Mobility AG / Key word(s): Preliminary Results
PIERER Mobility AG: Preliminary key figures 2020 - Active corona management leads to further record year
- Unit sales: 326,471 motorcycles and e-bicycles
- Revenues: € 1,530.3m (previous year: € 1,520.1m)
- EBIT: € 107.2m (previous year: € 131.7m)
- Free Cash Flow: € 166.0m (previous year: € 91.6m)
- Full integration of the e-bike division and GASGAS as the group's third brand
- Further market share gains in the key markets USA, Australia and Europe
- Staff expansion: +218 to 4,586 employees
Preliminary revenues and earnings in the business year 2019
With 326,471 motorcycles and e-bicycles in the business year 2020, PIERER Mobility delivered its 10th record year in a row. A revenue of € 1,530.3m (previous year: € 1,520.1 m) was generated, with the e-bike division already contributing sales of € 112.5m to this total. The preliminary EBIT reached € 107.2m in this challenging year (previous year: € 131.7m), corresponding to an EBIT margin of 7%. The operating result before depreciation and amortization (EBITDA) of € 239.0m was at the level of the previous year (previous year: € 240.8m), corresponding to an EBITDA margin of 15.6%.
Market shares further expanded
In the US market, as the largest singular motorcycle market for the PIERER Mobility Group, the motorcycle market, which had been in decline since 2015, turned positive with 6.5% growth and recorded a volume of approximately 398,000 motorcycles in 2020 (previous year: approximately 374,000). In the same period, the market share of KTM, Husqvarna and GASGAS increased to 11.6% (2019: 9.4%).
As a result of the 100 % acquisition of KTM Australia Holding in the previous year and the market efforts, the company succeeded in outperforming a strongly growing market (+17.9% to 62,000 motorcycles) with an increase of 46.5% in new registrations and by exceeding 20% of the market share (20.4%) for the first time.
India, the most important future market for KTM, was hit hardest by the COVID crisis. Bajaj nevertheless managed to sell over 60,000 motorcycles from the two brands KTM and Husqvarna Motorcycles and to outperform the Indian premium motorcycle market.
Unit sales of motorcycles & e-bicycles
In Europe, sales to dealers were around 100,000 motorcycles and 56,064 e-bikes. Around two-thirds of the motorcycles (approximately 170,000) were sold to the dealer network in markets outside Europe, in particular in North America, India and Australia.
The 100 % acquisition of the shares in GASGAS Motorcycles GmbH in July 2020 will position GASGAS as the group's third brand in the offroad segment and as the global market leader in the trial segment. GASGAS also adds a sporty range of high-end e-mountain bikes to the product portfolio.
Increasing global brand awareness through sensational successes in the MotoGP
Strategic initiatives 2021 - Full integration of the e-bikes division and GASGAS as the group's third brand
In the important and rapidly growing e-bike division, the group will develop into a significant player in the medium term and has set itself the goal of generating annual sales of € 500m by 2025. As early as 2021, the distribution of e-bicycles outside the DACH region is to be rolled out in Europe, and from 2022 also in North America. In addition to specialist bicycle retailers, selected motorcycle dealers will also sell the e-bicycles.
In cooperation with Bajaj, the development of several electric two-wheeler models is being driven forward on the joint electric drive platform. The first Husqvarna branded e-scooter will be launched in 2022.
China is the world's fastest growing premium motorcycle market. In order to gain a further foothold in this important market, activities are being intensified together with the Chinese joint venture partner CFMOTO. Production of the first models will start in the second quarter of 2021.
Preliminary key figures 2020 of PIERER Mobility Group (consolidated)
1) excluding lease additions (IFRS 16)
The Annual Financial Report and the Sustainability Report of the Financial Year 2020 will published on March 30, 2021 and are available on the company's website www.pierermobility.com under the following links:
About the Group
01.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
PIERER Mobility AG
+43 (0) 7242 69 402
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
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Valorennummer (Schweiz): 41860974Wertpapierkürzel: PMAG,Bloomberg: PMAG SE, PMAG GYReuters: PMAG.S
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