Share | PIERER Mobility AG

General information about PIERER Mobility AG share

Since 14 November 2016, the shares of PIERER Mobility AG (formerly KTM Indusries AG) have been primary listed in the International Reporting Standard of SIX Swiss Exchange. On 29 March 2017, the shares of PIERER Mobility AG were included in the Swiss Performance Index (SPI) of SIX Swiss Exchange. Furthermore, the shares of PIERER Mobility AG are also listed on the Vienna Stock Exchange. Following the withdrawal from the prime market segment of the Vienna Stock Exchange, the shares of PIERER Mobility AG were initially traded in the “standard market” segment; since 28 April 2017, the shares have been listed in the “standard market auction” segment. PIERER Mobility AG also began listing its shares on the regulated market of the Frankfurt Stock Exchange on March 3, 2020.

Revocation of the admission of the shares to official trading on the Vienna Stock Exchange, Download PDF

Share Broker

The support provided by investment banks is an important element of the comprehensive investor relations activities of PIERER Mobility AG and is of particular importance for the perception of PIERER Mobility shares with investors.

PIERER Mobility has selected MainFirst Bank and Bank Vontobel as preferred brokers for PIERER Mobility shares (Ticker symbol: PMAG). For any inquiries related to the purchase or sale of PIERER Mobility shares please contact:

MAINFIRST BANK AG I Sales Trading Desk +49 69 78808 0
Bank Vontobel AG, Sales Trading Desk +41 58 283 56 77

Shareholder structure

Ownership: 60.0 percent of PIERER Mobility AG is owned by Pierer Industrie AG, Wels, Austria. The free float is around 34.9 percent, own shares make up around 0.9% of the company’s share capital. Pierer Konzerngesellschaft mbh holds around 4.2%.

Pierer Industrie AG

Free Float

Pierer Konzerngesellschaft mbh

Own Shares

Share Analysis

Christian Arnold, CFA
MAINFIRST SCHWEIZ AG
Director, Equity Research, Swiss Industrials
Gartenstrasse 32, CH-8002 Zürich
T: +41 43 888 6153 I E-Mail

Andy Chambers
Edison Investment Research Limited
Analyst, Industrials
280 High Holborn, London WC1V 7EE
T: +44 20 3681 2525 I E-Mail

Mark Diethelm
Bank Vontobel AG I Investment Banking
Analyst, Executive Director
Gotthardstrasse 43, CH-8022 Zürich
T: +41 58 283 71 50 I E-Mail

Mustafa Hidir
Warburg Research GmbH
Analyst
Ferdinandstraße 75, D-20095 Hamburg
T: +49 40 309 537 230 I E-Mail

Coverage

Broker	Recommendation	Price target	Last update	Research*
MainFirst			September 2020	Earnings update
M.M. Warburg	Buy	CHF 79	July 2020	Download Comment
Vontobel	Buy	CHF 71	September 2020	Download Comment
Edison			July 2020	Download Comment

Edison have been engaged by PIERER Mobility Group to provide investment intelligence to support its capital markets activity. The below feed from Edison has been added to the website so interested parties can access the research provided to PIERER Mobility Group. Note that the Company accepts no responsibility for the content of the website you may access by following any links below or for any reliance placed by you or any person on the information contained therein.

Executive interview, April 17, 2020

Hidden Item

Coverage Archive

Edison
Initial Coverage, 4 February 2020
Comment, 20 March 2020
Comment, 29 May 2020

M.M.Warburg
Initial Coverage, 20 June 2019
Comment, 31 January 2020
Comment, 5 February 2020
Comment, 3 April 2020
Comment, 8 July 2020

Vontobel
Comment, 31 January 2020
Comment, 30 March 2020
Comment, 5 May 2020
Comment, 23 July 2020
Comment, 31 August 2020

* Legal Disclaimer:
This announcement is provided for information purposes only. This announcement does neither constitute an offer to sell nor an intimation to submit a proposal for the acquisition of securities of PIERER Mobility AG. This announcement is not intended for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States, Australia, Canada, Japan or South Africa or any other jurisdiction where it is unlawful to distribute this announcement.

Guidance

The guidance for 2020 was published on August 31, 2020 (adhoc).

Key Figures

Earnings ratios¹⁾		2015	2016	2017	2018	2019
Revenue	in m€	1,223.6	1,343.0	1,533.0	1,559.6	1,520.1
EBITDA	in m€	178.4	198.4	218.9	252.2	240.8
EBIT	in m€	112.9	122.3	132.5	161.2	131.7
Earnings after taxes	in m€	65.0	89.0	83.9	114.2	95.7
EBITDA margin	in per cent	14.6%	14.8%	14.3%	16.2%	15.8%
EBIT margin	in per cent	9.2%	9.1%	8.6%	10.3%	8.7%

Balance sheet ratios		12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019
Balance sheet total	in m€	1,175.9	1,423.8	1,465.2	1,353.9	1,613.9
Equity	in m€	386.6	454.9	528.6	550.8	618.6
Equity ratio	in per cent	32.9%	32.0%	36.1%	40.7%	38.3%
Working capital employed ²⁾	in m€	243.3	245.2	238.4	245.3	274.2
Net debt ³⁾	in m€	387.4	364.6	375.0	323.3	395.8
Gearing ⁴⁾	in per cent	100.2%	80.1%	70.9%	58.7%	64.0%

Cash-Flow and capex		2015	2016	2017	2018	2019
Cash-Flow from operating activities	in m€	106.9	167.8	161.3	85.5	257.4
Cash-Flow from investing activities	in m€	-110.1	-158.8	-154.0	-102.1	-165.7
Cash-Flow from financing activities	in m€	50.7	139.2	-118.0	-63.3	-20.6

Capital expenditure ^{1) 5)}	in m€	133.0	144.4	178.6	183.6	164.9

Employees		12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019
Number of employees as of balance sheet date ^{1) 6)}	Number	4,553	5,069	5,887	4,303	4,368

Value creation		12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019
ROCE (Return on capital employed ⁷⁾	in per cent	14.2%	13.9%	13.9%	16.6%	12.7%
ROE (Return on equity) ⁸⁾	in per cent	17.2%	21.2%	17.1%	21.2%	16.4%
ROIC (Return on Invested Capital) ⁹⁾	in per cent	11.0%	11.7%	10.4%	13.6%	10.6%

Stock exchange ratios ¹⁰⁾		12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019
Share price as of Dec. 31; SIX Swiss Exchange¹¹⁾	in CHF	-	5.35	7.39	60.60	54.00
Number of shares¹¹⁾	in m shares	-	225.39	225.39	22.54	22.54
Market capitalization¹²⁾	in m CHF	-	1,205.82	1,665.61	1,365.84	1,217.09
Earnings per share ¹³⁾	in €	-	2.31	1.98	2.99	2.42
Book value per share ^{13) 14)}	in €	-	20.18	23.45	24.44	27.45

¹⁾ Previous years also include the discontinued operation (Pankl-Group)
²⁾ Working Capital Employed = inventories + trade receivables – trade payables
³⁾ Net debt = financial liabilities (current, non-current) – cash
⁴⁾ Gearing = net debt / equity
⁵⁾ Additions from property, plant and equipment and intangible assets according to schedule of investments; without first-time application effect of IFRS 16 as of January 1st, 2019
⁶⁾ Number of employees on the reporting date (including temporary staff)
⁷⁾ ROCE = EBIT / average capital employed, Capital employed = property, plant and equipment + goodwill + intangible assets + working capital employed
⁸⁾ ROE = earnings after taxes / average equity
⁹⁾ ROIC = NOPAT / average capital employed; NOPAT = EBIT – taxes
¹⁰⁾ since November 14th, 2016 Listing on SIX Swiss Exchange
¹¹⁾ Reverse stock split in a ratio 10:1 in April 2018
¹²⁾ Calculation also includes 108,015 numbers of treasury shares as of December 31st, 2019
¹³⁾ Calculation in 2016 and 2017 adjusted to the new number of shares after reverse stock split in a ratio 10:1
¹⁴⁾ Equity / number of shares