PIERER Mobility AG / Key word(s): Forecast/Change in Forecast
- Continued positive global demand for powered two-wheelers leads to renewed improvement in earnings
Due to the continued positive global demand for powered two-wheelers (motorbikes and e-bicycles), the Board of Directors today announces that it is again raising the revenue forecast for the 2020 financial year published in September 2020.
For the 2020 financial year, annual Group sales are now expected to exceed € 1,500 million. Due to the high demand, it was possible in the second half of 2020 to largely make up for the lost production and sales volumes from the COVID19 lockdown in the spring and to generate sales of approximately € 900 million. This means that turnover for the second half of the year will be more than 17 percent higher than in the same period of the previous year.
With an expected EBIT of approximately € 100 million for the 2020 financial year, the EBIT margin is above the published guidance range of 4 - 6 % of turnover. Free cash flow will be above € 130 million and thus significantly above the last forecast.
11-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||PIERER Mobility AG|
|Phone:||+43 (0) 7242 69 402|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1154519|
|Valorennummer (Schweiz): 41860974Wertpapierkürzel: PMAG,Bloomberg: PMAG SE, PMAG GYReuters: PMAG.S|
|End of Announcement||DGAP News Service|