DGAP-News: PIERER Mobility AG / Key word(s): Annual Results/Annual Report
Corporate News on the Financial Figures 2020, Wels, 30 March 2021
- Unit sales: 326,471 motorcycles and e-bicycles
- Revenues: € 1,530.4m (previous year: € 1,520.1m)
- EBIT: € 107.2m (previous year: € 131.7m)
- Free Cash Flow: € 165.8m (previous year: € 91.6m)
- Dividend payment of EUR 50 Cent per share
- Outlook (Guidance) for 2021
In the 2020 financial year, the PIERER Mobility Group generated record revenue of € 1,530.4 million (previous year: € 1,520.1 million), despite a two-month interruption in motorcycle production, with the e-bike division already contributing sales of € 112.5 million to this total. In this unusually challenging year, the result from operating activities (EBIT) reached € 107.2 million (previous year: 131.7 million), corresponding to an EBIT margin of 7%. The operating result before depreciation and amortization (EBITDA) of € 233.5 million was slightly below the previous year's level (previous year: EUR 240.8 million), corresponding to an EBITDA margin of 15.3%.
The Free Cash Flow was almost doubled to € 165.8 million compared to € 91.6 million in 2019, corresponding to 10.8% of sales. In the business year 2020, around € 110.9 million was invested in product development and tools as well as € 39.3 million in operating facilities & infrastructure and in the acquisition of the GASGAS brand. On December 31, 2020, the PIERER Mobility Group employed 4,586 people, 3,822 of them in Austria.
As the largest European manufacturer, with a broad product range of offroad and street motorcycle models, the very high demand for powered two-wheelers, both in the leisure and sports segments as well as in urban traffic in particular, was well covered. With 212,713 KTM motorcycles, 49,046 HUSQVARNA motorcycles and already 8,648 GASGAS motorcycles sold in the 2020 financial year, sales of 270,407 motorcycles (2019: 280,099 units) were achieved. Due to the high demand, the second half of 2020 succeeded in largely making up for the lost production or sales volumes from the COVID-19 lockdown in the spring. In addition, the e-bike division delivered exceptional sales growth of more than 33% with the sale of 56,064 e-bikes (2019: 41,993 (non-consolidated)) of the HUSQVARNA and R RAYMON brands.
An equally important step on the path to growth was the full acquisition of the shares in GASGAS Motorcycles in July 2020, which was positioned as the third Group brand in the offroad segment (trial segment). In the 2020 business year, with its three motorcycle brands the Group further expanded its presence in the key motorcycle sales markets, increasing its market share to 12.7% (previous year: 11.0%).
Dividend payment of € 50 Cent per share
It will be proposed to the Annual General Meeting the payment of a dividend of € 0.50 per share for the 2020 financial year, that means this year's dividend will be 20 cents higher than the value of the last dividend payment before the COVID-19 crisis.
In addition to the e-bike segment, a stronger focus will be placed on electric mobility in the scooter segment in the coming years. In addition to the joint electric two-wheeler platform with Bajaj, investments were made in an electric mobility center in Anif near Salzburg. In the future, up to 300 employees will work on electric mobility there.
In addition to safeguarding production capacities, the focus will continue to be on securing the supply chain as well as on increasing efficiency and productivity. For the first half of the year, challenges are expected in international supply chains, as capacity and delivery bottlenecks at individual suppliers and in international transport logistics could result in delays to deliveries. To protect the health and safety of employees, precautionary measures are taken on an ongoing basis, and they are constantly evolving and being integrated into the work process. In addition to the strong set up of testing capacities, work is underway to establish a vaccination line within the company.
For the 2021 financial year, the Executive Board expects revenues of between EUR 1,800 - 1,900 million, an EBIT margin of between 8 - 9% and an EBITDA margin of over 15%.
1) excluding lease additions (IFRS 16)
The Annual Financial Report, the Sustainability Report of the Financial Year 2020 and the Corporate Governance Report will published on March 30, 2021 and are available on the company's website www.pierermobility.com under the following links:
|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:||1179459|
|Valorennummer (Schweiz): 41860974Wertpapierkürzel: PMAG,Bloomberg: PMAG SE, PMAG GYReuters: PMAG.S|
|End of News||DGAP News Service|