Guidance & group KPIs

Guidance 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.

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.

The guidance for the 2025 financial year were published on May 28, 2025 (Ad hoc).

Key financial performance indicators

Earnings data

2020

2021

2022

2023

2024

∆¹

Revenue

1,530

2,042

2,437

2,661

1,879

-29.4%

EBITDA

234

332

381

324

-481

>-100.0%

-EBITDA margin

15.3%

16.3%

15.6%

12.2%

-25.6 %

-37.8pp

EBIT

107

194

235

160

-1,184

>-100.0%

-EBIT margin

7.0%

9.5%

9.7%

6.0%

-63.0 %

-69.0pp

Result for the period

143

171

76.4

-1,080

>-100.0%

Earnings per share (€)

1.56

3.34

5.03

2.37

-29.30

>-100.0%

Balance sheet data

Dec 31, 2020

Dec 31, 2021

Dec 31, 2022

Dec 31, 2023

Dec 31, 2024

∆¹

Balance sheet total

1,686

2,038

2,551

2,953

2,396

-18.9%

Equity

654

766

914

909

-194

>-100.0%

-Equity ratio

38.8%

37.6%

35.8%

30.8%

-8.1%

-38.9pp

Working capital employed

182

161

187

531

525

-1.1%

Net debt

312

190

257

776

1,643

111.7%

-Gearing

47.8%

24.8%

28.1%

85.3%

847.9%

762.6pp

Cashflow, Investitionen and R&D

2020

2021

2022

2023

2024

∆¹

Cash flow from operating activities

313

367

280

-111

-436

>-100.0%

Cash flow from investing activities

-147

-195

-283

-302

-341

-12.7%

Free cash flow

166

172

-3

-413

-776

-88.0%

Cash flow from financing activities

-105

-28

-91

399

695

74.2%

Capital expenditures

150

178

268

284

233

-18.0%

R&D expenses from revenue

9.0%

8.0%

8.7%

9.2%

12.5%

3.3pp

Select non-financial KPI

2020

2021

2022

2023

2024

∆¹

Employees (headcount) ²

4,586

5,249

6,088

6,184

5,310

-14.1%

-Share of female employees

22.4%

24.2%

25.4%

25.8%

25.1%

-0.7pp

-Share of employees working in R&D

17.6%

18.6%

19.4%

21.1%

22.1%

1.0pp

Unit sales motorcycles ³

270,407

332,881

359,123

372,511

292,497

-21.5 %

Unit sales e-bicycles

56,064

76,916

72,634

99,141

66,880

-32.5%

Unit sales bicycles (without electric drive)

17,213

25,837

43,987

56,718

39,431

-30.5%

Production motorcycles (units) ⁴

265,321

323,931

381,823

385,330

298,143

-22.6%

-thereof in Mattighofen, Austria

140,252

178,992

222,041

217,160

146,934

-32.3%

Unless otherwise stated, all values in €m.

See the Glossary for explanations of alternative performance measures (see PDF below).

1) Change 2024 to 2023 or Dec 31, 2024 to Dec 31, 2023; pp = percentage points

2) Number of employees on the reporting day (including temporary staff)

3) Including motorcycles sold by partner Bajaj

4) Includes all produced motorcycles in Austria, India, China, Spain and Italy

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