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.

Capital increase by contribution in kind 2021
Exclusion of subscription rights – Report of the Management Board pursuant to section 171 (1) in conjunction with section 153 (4) AktG of September 29, 2021

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:

Shareholder structure

Ownership: Around 63.4 percent of PIERER Mobility AG is owned by Pierer-Group, Austria. The free float is around 36.6 percent.

Pierer-Group, Austria

Free Float

Share Analysis

Christian Arnold, CFA
STIFEL 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

Coverage

BrokerRecommendationPrice targetLast updateResearch*
Stifel08/2021
09/2021
H1-21 update
Sponsored Research
M.M. Warburg
Coverage discontinued
BuyNew up to
CHF 94 (88)
04/2021Download Comment
(PDF, 1.1 MB)
VontobelBuyCHF 9008/2021Download Comment
(PDF, 216 KB)
Edison02/2021Download Comment
(PDF, 594 KB)

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.

Interview Investresearch TV, 02/25/2021 (German only)

Hidden Item
Coverage Archive 2021

M.M.Warburg
Comment, 4 February 2021

Vontobel
Comment, 14 January 2021
Comment, 1 February 2021
Comment, 2 February 2021
Comment, 25 February 2021
Comment, 13 April 2021

* 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.

Coverage Archive 2019 - 2020

Edison
Initial Coverage, 4 February 2020
Comment, 20 March 2020
Comment, 29 May 2020
Comment, 23 July 2020
Comment, 1 October 2020
Comment, 28 October 2020
Comment, 15 December 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
Comment, 23 July 23 2020

Vontobel
Comment, 31 January 2020
Comment, 30 March 2020
Comment, 5 May 2020
Comment, 23 July 2020
Comment, 31 August 2020
Comment, 1 September 2020
Comment, 14 December 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

Further increase in revenue forecast was published on August 26, 2021 (Ad hoc).
The revenue forecast for 2021 was increased on April 12, 2021 (Ad hoc).
The guidance for 2021 was published on February 24, 2021 (Ad hoc).

Guidance2021
Revenue in m€

(previous guidance)
1,900 - 2,000

(1,850 - 1,950)
EBIT margin
8 - 9%
EBITDA margin
> 15%

Group Figures

Key financial performance indicators:

Earnings ratios1) 2016201720182019
2020
Revenuein m€
1,343.0
1,533.0
1,559.6
1,520.1
1,530.4
EBITDA in m€
198.4
218.9
252.2
240.8233.5
EBIT in m€
122.3132.5
161.2
131.7
107.2
EBITDA marginin per cent
14.8%
14.3%
16.2%
15.8%15.3%
EBIT marginin per cent
9.1%8.6%
10.3%
8.7%7.0%

Other financial figures:

Earnings ratios 1) 20162017201820192020
Earnings after taxesin m€89.083.9114.295.769.5
Earnings after minoritiesin m€52.144.767.554.534.9
Balance sheet ratios 12/31/201612/31/201712/31/201812/31/201912/31/2020
Balance sheet totalin m€1,423.81,465.21,353.91,613.91,686.0
Equityin m€454.9528.6550.8618.6654.1
Equity ratioin per cent32.0%36.1%40.7%38.3%38.8%
Working capital employed 2)in m€245.2238.4245.3274.2181.5
Net debt 3)
in m€364.6375.0323.3395.8312.4
Gearing 4)
in per cent80.1%70.9%58.7%64.0%47.8%
Cash-Flow and capex 20162017201820192020
Cash-Flow from operating activitiesin m€
167.8
161.3
85.5
257.4312.8
Cash-Flow from investing activitiesin m€-158.8-154.0-102.1-165.7-147.0
Free cash flow 5)in m€9.07.3-16.791.6165.8
Cash-Flow from financing activitiesin m€139.2-118.0-63.3-20.6-104.7
Capital expenditure 1) 5)in m€144.4178.6183.6164.9150.2
Value creation 12/31/2016
12/31/2017
12/31/2018
12/31/201912/31/2020
ROCE (Return on capital employed 7)in per cent13.9%13.9%16.6%12.7%9.7%
ROE (Return on equity) 8)
in per cent21.2%17.1%21.2%16.4%10.9%
ROIC (Return on Invested Capital) 9)
in per cent11.7%10.4%13.6%10.6%7.7%
Stock exchange ratios 10) 12/31/201612/31/2017
12/31/2018
12/31/2019
12/31/2020
Share price as of Dec. 31; SIX Swiss Exchange11)in CHF
5.357.39
60.60
54.00
71.10
Number of shares11)in m shares
225.39225.39
22.54
22.5422.54
Market capitalization12)in m CHF
1,205.821,665.61
1,365.84
1,217.091,602.50
Earnings per share 13)in €
2.311.98
2.99
2.42
1.56
Book value per share 13) 14)in €
20.1823.45
24.44
27.4529.02

Non-financials key performance indicators:

  20162017201820192020
Employees 15)Headcount5.0695.8874.3034.3684.586
Unit sales total 16)Number of units203.340238.334261.454280.099326.471
Unit sales motorcycles 17)Number of units203.340238.334261.454280.099270.407
Unit sales e-bikesNumber of units----56.064

Other non-financial figures

  20162017201820192020
Production motorcycles worldwide 18)Number of units199.068243.442259.051260.564265.321
Production motorcycles in Mattighofen 19)Number of units134.584151.645171.297160.098140.252
t CO2-e per vehicle sold (Scope 1-3)in t CO2-e--3.843.823.66
Fleet emissionsØ in g/km--81.8279.0978.44
Fleet consumptionØ in l/100 km--3.523.413.40
Employees in R&D as % of total employeesin per cent15.1014.5015.8018.1017.60
R&D expenses from revenuein per cent7.908.308.709.109.00
Proportion of female employeesin per cent--22.9622.5922.37

 

1) Previous years 2016 to 2018 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) Free cash flow = cash flow from operating activities + cash flow from investing activities
6) Additions to property, plant and equipment and intangible assets according to the schedule of investments, excluding lease additions (IFRS 16)
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
15) Number of employees on the reporting day (including temporary staff); Previous years 2016 to 2018 also include the discontinued operation (Pankl-Group)
16) Including motorcycles sold by partner Bajaj; excluding non e-bikes
17) Including motorcycles sold by partner Bajaj
18) Including small-engine KTM and Husqvarna models produced by partner Bajaj in India; from 2020 including the number of units produced in Spain (3,092)
19) Annual production units at the headquarter in Austria

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