Ad hoc Release
Wels, 31 August 2020
PIERER Mobility AG: Guidance for 2020
Optimistic outlook for the second half of 2020
Due to the strong global demand PIERER Mobility AG expects an increase in revenue to more than EUR 800 million in the second half of 2020, which is significantly higher than in the same period of the previous year (second half of 2019: EUR 765.3 million). The annual revenue for the 2020 financial year announced on 22 July 2020 is confirmed and is expected to exceed EUR 1,400 million (FY 2019: EUR 1,520.1 million), with the e-bicycle division already contributing sales of more than EUR 110 million. Based on current assessments, the EBIT margin for fiscal year 2020 will range between 4% and 6% of revenues and the free cash flow will exceed EUR 30 million.
The half-year report for 2020 of PIERER Mobility AG is available on the company's website at https://www.pierermobility.com/en/investor-relations/reports.
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 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.
For more information:
Mag. Michaela Friepeß, Tel.: +43 (0)7242 / 69402
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