PIERER Mobility AG Reports Positive Revenue Growth Amidst Economic Challenges in 2023

On March 27, 2024, PIERER Mobility AG, a prominent player in the two-wheeler industry, announced its annual financial results for 2023, showcasing a 9.2% increase in revenue amounting to EUR 2,661 million. Despite tough economic conditions and shifts in the bicycle sector, the company managed to achieve significant growth. However, its earnings before interest and taxes (EBIT) saw a decline to EUR 160 million, approximately 32% lower than the previous year. Similarly, EBITDA fell by 15.1% to EUR 323.5 million.

The company reported a 1.6% increase in motorcycle unit sales, totaling 381,555, with a notable 33% surge in bicycle unit sales reaching 157,358 units. PIERER Mobility plans to distribute a dividend of €0.50 per share for the 2023 fiscal year. The firm undertook substantial investments totaling €284 million in its growth initiatives, particularly in product development and infrastructure, despite a negative free cash flow of €413 million, intentionally accepted to support various strategical maneuvers.

Moreover, PIERER Mobility highlighted strategic projects, including the expansion of its cooperation with CFMOTO and the acquisition of a majority stake in the Italian motorcycle manufacturer MV Agusta S.p.A., positioning itself strongly for the future. Looking ahead to 2024, the company is bracing for continued economic challenges, focusing on consolidation and cost-saving measures to bolster its core business.