EQS-Adhoc: PIERER Mobility AG: Key financial figures for financial year 2024

Ad hoc notification pursuant to Article 17 Regulation (EU) No 596/2014 (MAR)

Ad hoc announcement pursuant to Art. 53 LR

Wels, May 28, 2025

PIERER Mobility AG: Key financial figures for financial year 2024

• No significant deviations from the preliminary financial figures already communicated
•  Court confirms restructuring plans for KTM companies
  • Restructuring gain of around €1.2 billion
• Outlook for 2025
  • Significant decline in revenue expected due to six-month interruption of operations
  • EBIT clearly positive due to restructuring gain
  • Positive equity restored

PIERER Mobility AG published preliminary results for the 2025 financial year on January 23 and April 28, 2025. The final figures differ only slightly, if at all, from the most recently published figures.

The 2024 annual financial report and the 2024 annual report, including the non-financial statement, and the 2024 corporate governance report are available from today on the company's website at www.pierermobility.com under the following link: 

https://www.pierermobility.com/en/investor-relations/publications

Summary of revenue and earnings for the 2024 financial year

The PIERER Mobility Group generated consolidated revenues of €1,879 million (-29%) in 2024.

Due to a significant reduction in operating performance and one-off restructuring expenses, the operating result (EBIT, EBITDA) for the 2024 financial year was clearly negative. EBITDA (earnings before interest, taxes, depreciation, and amortization) amounted to around € -481 million. EBIT (earnings from operating activities after depreciation and amortization) amounted to around € ‑1,184 million. It includes necessary value adjustments as part of the restructuring process as well as impairments on intangible assets (including development costs) and goodwill totaling around € ‑850 million.

The negative free cash flow of €776 million consequently increased net debt to €1,643 million as of December 31, 2024. Equity was negative at €194 million due to the results. Therefore, no dividend will be distributed for the 2024 fiscal year.

As of December 31, 2024, the PIERER Mobility Group employed 5,310 people (-14%).

Court confirms restructuring plans for KTM companies

As previously announced, the creditors of KTM AG, KTM Components GmbH, and KTM Forschungs & Entwicklungs GmbH approved a restructuring plan with a 30% quota on February 25, 2025. The total and final amount required to finance the quota under the three restructuring plans ultimately amounted to €525 million and was transferred to the restructuring administrators on time. The restructuring plans are expected to become legally binding in June 2025, provided no appeals are lodged.

This results in a restructuring gain of 70% of the registered creditor claims (at KTM AG, KTM Components GmbH, and KTM Forschungs & Entwicklungs GmbH), i.e., approximately €1.2 billion. This restructuring gain is effective in EBIT and will lead to positive EBIT in both the first half of the year and the 2025 fiscal year. This will also restore equity to a positive figure in the high triple-digit million range.

 

Outlook for 2025

The PIERER Mobility Group expects the economic environment to remain challenging in the 2025 financial year. It will be shaped by the restructuring process, which has now been successfully completed. The loyal customer community, which, alongside the future product policy, forms the basis for a successful restructuring, should be highlighted. The past months have confirmed the demand for our products. By the end of 2025, management expects its own inventories and those of dealers and importers to normalize.

The Management Board expects revenue for the 2025 financial year to be below the level of 2024. The main reason for this is the production interruptions totaling six months that occurred in the course of the restructuring process. Full production is scheduled to resume at the end of July, but the backlog cannot be compensated due to the seasonal nature of the business.

Due to the lack of operating performance, a negative operating result is expected, which, however, will turn significantly positive due to the restructuring gain and lead to a stable equity structure. Despite the difficult conditions, the sales volume achieved is encouraging and will contribute to a reduction in inventories that is ahead of plan. This marks an important step toward normalizing capital tie-up.

The investments made in recent years have secured the necessary production capacity for the coming years. The existing locations, in particular the main production sites in Mattighofen and Munderfing, are thus sustainably secured. This will allow KTM to continue fulfilling its role as an important employer in the region.

 

Final key figures 2024 of the PIERER Mobility Group (consolidated)

¹⁾ excluding lease additions (IFRS 16) of € 39.2 million (previous year: € 32.5 million)

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: ir@pierermobility.com

Website: https://www.pierermobility.com

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