The PIERER Mobility Group achieved in the business year 2019 record revenues in the amount of 1,520.1 mEur (+4.0%). This corresponds to an increase of 57.9 mEur. The preliminary EBIT reached 131.7 mEur (+2.3%) after 128.7 mEur in the previous year.
The operating earnings before depreciation (EBITDA) increased from 211.0 mEur to 240.8 mEur (+ 29.8 mEur) corresponding to an EBITDA margin of 15.8%. The Free Cash Flow improved significantly and amounts to 91.6 mEur compared to -16.7 mEur in 2018.
For the growth in the business year 2019 approximately 121 mEur were invested in product development and around 44 mEur in facilities and infrastructure. All key earnings figures refer to the continued operation of the Group (previous year excluding Pankl Group). On December 31, 2019, the PIERER Mobility Group employed 4,368 people, 3,639 of them in Austria.
With 234,449 KTM motorcycles and 45,650 Husqvarna motorcycles sold in the financial year 2019, sales increased by around 7% compared to the previous year.
Maintaining the dividend policy, it will be proposed to the Annual General Meeting that a dividend of 30 cents per share is paid out for the financial year 2019. This years’ dividend corresponds to the dividend of the previous year.
Sales volume: 280,099 motorcycles / + 7% compared to the previous year
Revenues: 1,520.1 mEur / + 4% compared to the previous year
EBITDA: 240.8 mEur / + 14% compared to the previous year
Free Cash Flow: 91.6 mEur / 6% of revenues
Conservative dividend pay-out of EUR 30 Cent per share maintained
Outlook (Guidance) for 2020 cancelled
The objective of PIERER Mobility Group is to further expand market shares in the global motorcycle markets despite the Corona crisis. The GASGAS motorcycle division will be integrated as a third brand into the group. Moreover, a strong focus is put on further development of the dealer network.
The e-bicycle activities (PEXCO) will be bundled in HUSQVARNA E-Bicycles GmbH, which was newly founded in January 2020. In this division, sales of more than EUR 100 million are expected for the 2020 financial year. Furthermore, the company also intends to develop in the electric two-wheeler segment to become a major international player in this field.
Risks to the company, the supply chain and the sales market resulting from the Corona crisis are being closely monitored. Any disruptions to business operations will be reacted to constantly by taking targeted measures. Among other things the short-term work program of the government is being used for the whole work force. The current development of the Corona crisis requires a daily reassessment of the situation.
PIERER Mobility AG confirms its sales target of 400,000 motorcycles for the 2022 financial year. In addition, KTM has set itself the goal of developing Husqvarna Motorcycles into the third largest European motorcycle manufacturer.
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Key figures 2019 of PIERER Mobility Group (consolidated)
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