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PIERER Mobility AG
The PIERER Mobility Group elevated its consolidated gross sales by 19.4 % to a brand new report of EUR 2,437 million (earlier 12 months: EUR 2,042 million) within the 2022 monetary 12 months regardless of extreme provide chain challenges.
The working end result (EBIT) improved by about 22 % to EUR 235 million (earlier 12 months: EUR 193 million), which corresponds to an EBIT margin of 9.7 %.
The working end result earlier than depreciation and amortisation (EBITDA) of EUR 381 million is roughly EUR 50 million greater than within the earlier 12 months. The EBITDA margin quantities to fifteen.6 %.
As already reported, the Govt Board, in settlement with the primary shareholder Pierer Bajaj AG, will suggest to the Supervisory Board and the Annual Normal Assembly a dividend of EUR 2 per dividend-bearing share for the 2022 monetary 12 months on the idea of the report end result achieved, which can result in a doubling of the earlier 12 months’s dividend.
Within the 2022 monetary 12 months, about EUR 268 million had been invested in progress initiatives, of which roughly EUR 161 million in product improvement & instruments and EUR 62 million in plant & infrastructure.
Some of the important single investments in infrastructure (property, plant and tools) within the 2022 monetary 12 months was the continued building and completion of the brand new headquarters of KTM North America in Murrieta, California. Firm premises have been constructed over an space of approx. 14,000 m² and comprise workplace and motorsport buildings in addition to storage areas. The entire funding for the development of the constructing was round USD 53 million.
Because of the continued excessive ranges of funding and a rise in working capital, the free money movement was barely detrimental at EUR -3 million in 2022. Within the final three monetary years, the group generated common free money flows of 5.6 % of gross sales, which is above the sustainable goal vary of three to five % of revenues.
Previously monetary 12 months, the variety of workers elevated by 839. As of December 31, 2022, the PIERER Mobility Group had a complete of 6,088 workers, thereof about 5,000 in Austria. Roughly 1,200 workers or 20 % of the workforce are engaged in analysis & improvement.
Final 12 months, round EUR 2.8 million was invested in workers coaching. As well as, the brand new coaching centre for apprentices was opened on the important location in Mattighofen in September. As of the stability sheet date, about 200 apprentices had been employed and skilled in 20 completely different professions.
Motorbike gross sales quantity: 375,492 (+13 %)
With 268,575 KTM bikes, 75,266 Husqvarna bikes and 31,651 GASGAS bikes bought within the 2022 monetary 12 months, a gross sales quantity of 375,492 bikes (2021: 332,881 models) was achieved. The bikes section thus achieved a rise in gross sales volumes of 13 %.
Within the gross sales areas in Europe, unit gross sales had been round 122,000 bikes (+2 %) and round two-thirds of the bikes (approx. 253,000) had been bought within the markets outdoors Europe.
Development was significantly sturdy in North America, the place nearly 110,000 bikes had been bought, a rise of 67 % in comparison with the earlier 12 months.
Gross sales additionally developed nicely in South America with 37,600 (+16 %) and in Asia with about 32,000 (+7 %) bikes bought. Gross sales in Australia had been roughly on the earlier 12 months’s degree (-6 %) with round 19,500 bikes bought.
After a robust improve in world demand for bikes within the earlier 12 months, each the European bike market (-3 %) with a quantity of about 730,000 models, and the North American bike market (-6 %) with a dimension of about 470,000 models have barely decreased and stabilised at a excessive degree in 2022. The market share of all three manufacturers was about 10 % in Europe and 12 % in North America in 2022.
The Australian (together with New Zealand) bike market additionally declined barely, with a ten % drop to 60,000 new bikes registered. Nonetheless, the market share of the three manufacturers in complete elevated to 21 % on this market.
The related Indian bike market, however, is clearly on the upswing (+23 %). Bajaj bought nearly 50,000 KTM and Husqvarna bikes in India, leading to a market share of 5 %. The one millionth bike – a KTM Journey 390 – has rolled off the manufacturing line at Bajaj’s Chakan plant in Pune. This Bajaj Auto Restricted plant has been co-developing and producing bikes for world distribution since 2011.
Bicycles gross sales quantity: 118,465 (+15 %)
Regardless of large provide issues, the brand new mobility division with the manufacturers Husqvarna, R Raymon, GASGAS and FELT achieved gross sales quantity progress of greater than 15 % and bought 118,465 bicycles (earlier 12 months: 102,753), of which 74,479 had been e-bicycles (earlier 12 months: 76,916). Within the bicycle division, the DACH area (Germany, Austria and Switzerland) continues to be the most important gross sales market with round 67 %. In 2022, the share of gross sales in North America might be elevated from just below 1 % to round 11 % within the bicycle division.
Strategic cooperation with MV Agusta & takeover of European distribution for CFMOTO bikes
An essential milestone for the corporate was the conclusion of a strategic cooperation with the Italian premium bike producer MV Agusta. In November 2022, KTM AG acquired a stake of 25.1 % in MV Agusta Motor S.p.A., primarily based in Varese (Italy), by methods of a capital improve. As a part of this strategic partnership between the 2 European bike producers, KTM will present provide chain help to MV Agusta SpA and can take over the sourcing of parts. Moreover, by this cooperation, MV Agusta SpA will partly distribute its product vary by the worldwide distribution community of PIERER Mobility.
The cooperation with CFMOTO will intensify with the launch of the newly based KTM Group subsidiary CFMOTO Bikes Distribution GmbH, Munderfing (Austria). This firm will take over the distribution of CFMOTO bikes in Europe, particularly in Germany, Austria, Switzerland, Spain and Nice Britain.
Outlook – constructive steering for 2023 confirmed
PIERER Mobility confirms its earnings forecast for the 2023 monetary 12 months introduced on January 9, 2023, persevering with to concentrate on progress in each bikes and (e-)bicycles within the 2023 monetary 12 months. The Govt Board expects gross sales progress of between 6 and 10 % with an EBIT margin of 8 to 10 %.
PIERER Mobility AG
File Outcome 2022 confirmed
- Revenues: EUR 2,437 million (+19 %)
- EBIT: EUR 235 million (+22 %)
- EBITDA: EUR 381 million (+15 %)
- Gross sales quantity: 375,492 bikes (+13 %)
- Gross sales quantity: 118,465 E-bicycles & bicycles (+15 %)
- Variety of workers elevated by 839 (+16 %) to six,088
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