EQS-News: PIERER Mobility AG / Key word(s): Preliminary Results
PIERER Mobility AG: Another record year in 2022
31.01.2023 / 07:00 CET/CEST
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Corporate News                         

Wels, January 31, 2023


PIERER Mobility AG: Another record year in 2022

KTM 1290 SUPER ADVENTURE R, MY23 ©Philip Platzer

KTM 1290 SUPER ADVENTURE R, MY23 ©Philip Platzer


  • Revenues: EUR 2,437 million (+19 %)
  • EBIT: EUR 235 million (+22 %)
  • EBITDA: EUR 381 million (+15 %)
  • Sales volume: 375,492 motorcycles (+13 %)
  • Sales volume: 118,465 E-bicycles & bicycles (+15 %)
  • Number of employees increased by 839 (+16 %) to 6,088
  • Dividend of EUR 2.0 per share
  • Positive outlook for 2023


Preliminary revenues and earnings in the 2022 financial year

The PIERER Mobility Group increased its consolidated sales by 19.4 % to a new record of EUR 2,437 million (previous year: EUR 2,042 million) in the 2022 financial year despite severe supply chain challenges. The preliminary operating result (EBIT) improved by about 22 % to EUR 235 million (previous year: EUR 193 million), which corresponds to an EBIT margin of 9.7 %.  The operating result before depreciation and amortisation (EBITDA) of EUR 381 million is approximately EUR 50 million more than in the previous year. The EBITDA margin amounts to 15.6 %.

In the 2022 financial year, about EUR 268 million were invested in growth initiatives, of which approximately EUR 161 million in product development & tools and EUR 62 million in plant & infrastructure. Due to the continued high levels of investment and an increase in working capital, the free cash flow was slightly negative at EUR -3 million in 2022. In the last three financial years, we generated average free cash flows of 5.6 % of sales, which is above the sustainable target range of 3 % to 5% of revenues.

In the past financial year, the number of employees increased by 839. As of December 31, 2022, the PIERER Mobility Group had a total of 6,088 employees, thereof about 5,000 in Austria. Approximately 1,200 employees or 20 % of the workforce are engaged in research & development.


Motorcycle sales volume: 375,492 (+13%)

With 268,575 KTM motorcycles, 75,266 HUSQVARNA motorcycles and 31,651 GASGAS motorcycles sold in the 2022 financial year, a sales volume of 375,492 motorcycles (2021: 332,881 units) was achieved. The motorcycles segment thus achieved an increase in sales volumes of 13 %. In the sales regions in Europe, unit sales were around 122,000 motorcycles (+2 %) and around two-thirds of the motorcycles (approx. 253,000) were sold in the markets outside Europe. Growth was particularly strong in North America, where almost 110,000 motorcycles were sold, an increase of 67 % compared to the previous year. Sales also developed well in South America with 37,600 (+16 %) and in Asia with about 32,000 (+7 %) motorcycles sold. Sales in Australia were roughly at the previous year's level (-6 %) with around 19,500 motorcycles sold. In India/Nepal, sales were around 51,500 units (-15 %).

After a strong increase in global demand for motorcycles in the previous year, both the European motorcycle market (-3 %) with a volume of about 730,000 units, and the North American motorcycle market (-5 %) with a size of about 470,000 units have slightly decreased and stabilised at a high level in 2022. The market share of all three brands was about 10 % in Europe and 11 % in North America in 2022. The Australian (including New Zealand) motorcycle market also declined slightly, with a 10% drop to 70,000 new motorcycles registered. Nevertheless, the market share of the three brands in total increased to 20% in this market. The relevant Indian motorcycle market, on the other hand, is clearly on the upswing (+23%). Bajaj sold almost 50,000 KTM and Husqvarna motorcycles in India, resulting in a market share of 5 %.


Bicycles sales volume: 118,465 (+15 %)

In addition, the bicycle division with the brands HUSQVARNA, R RAYMON, GASGAS and FELT achieved sales volume growth of more than 15 % and sold 118,465 bicycles (previous year: 102,753), of which 74,479 were e-bicycles (previous year: 76,916). About 81 % of the sales volume can be attributed to Europe and here in particular to the DACH region (Germany, Austria and Switzerland). Another 11 % relates to the North American sales region and around 7 % to the Asian sales region.


Global milestone: The 1,000,000th KTM motorcycle left the production plant of the strategic partner Bajaj in Pune/India

PIERER Mobility AG has reached a significant milestone with its leading premium motorcycle brand KTM in India. The one millionth motorcycle - a KTM Adventure 390 - has rolled off the production line at Bajaj's Chakan plant in Pune. This Bajaj Auto Limited plant has been co-developing and producing KTM (125 cc to 390 cc) and Husqvarna (125 cc to 401 cc) motorcycles for global distribution since 2011.


Strategic cooperation with MV Agusta & takeover of European distribution for CFMOTO motorcycles

In November 2022, KTM AG acquired a stake of 25.1 % in MV Agusta Motor S.p.A., based in Varese (Italy), by ways of a capital increase. MV Agusta is a European motorcycle manufacturer with a long tradition in the premium segment, which brand is a symbol of Italian design and engineering. As part of this strategic partnership between the two European motorcycle manufacturers, KTM will provide MV Agusta with supply chain support and will take over the sourcing of components. Furthermore, through this cooperation, MV Agusta will partly distribute its product range through the worldwide distribution network of PIERER Mobility.

The cooperation with CFMOTO will intensify with the launch of the newly founded KTM Group subsidiary CFMOTO Motorcycles Distribution GmbH, Munderfing, Austria. This company will take over the distribution of CFMOTO motorcycles in Europe, especially in Germany, Austria, Switzerland, Spain and Great Britain.


Great racing success in 2022 - PIERER Mobility wins Dakar Rally 2023 with KTM

With another 17 world championship titles in 2022, PIERER Mobility AG looks back on an outstanding year in motorsports. In both the E1 and GP classes of the EnduroGP championship, GASGAS crowned itself the winner. Izan Guevara underlined a perfect racing season with the title in the Moto3™ World Championship. With Manuel Lettenbichler, KTM secured the world title in the FIM Hard Enduro World Championship. With speed and consistency, brand colleague Tom Vialle also decided the MX2 Motocross World Championship in his favour. Augusto Fernandez won the Moto2™ World Championship title for KTM in a rousing finale. With two race wins and several podium finishes, the KTM Factory Racing Team secured second place in the MotoGP team standings. The Husqvarna brand can also look back on a successful year. Billy Bolt dominated the FIM SuperEnduro World Championship and not only won the title, but also the team standings for Husqvarna.

Just as successfully as the past year ended, the new year started with the first big success. At the beginning of 2023, PIERER Mobility AG secured Dakar title number 20 through Argentinian Kevin Benavides on KTM in Saudi Arabia. Toby Price (KTM) and Skyler Howes (Husqvarna) completed the podium with second and third places, making for a perfect start to the 2023 motorsport season.


Dividend proposal of EUR 2.0 per share

As already reported, the Executive Board, in agreement with the main shareholder Pierer Bajaj AG, will propose to the Supervisory Board and the Annual General Meeting a dividend of EUR 2 per dividend bearing share for the 2022 financial year due to the expected record result, which will be double the previous year’s dividend.


Positive outlook for 2023

On January 9, 2023, PIERER Mobility AG announced its earnings forecast for the 2023 financial year, continuing to focus on growth in both motorcycles and (e-)bicycles in the 2023 financial year. The Executive Board expects sales growth of between 6 and 10 % with an EBIT margin of 8 to 10 %.


Preliminary key figures 2022 of PIERER Mobility Group (consolidated)

Earnings figures   2021 2022 Chg.
Revenues EURm 2,041.7 2,437.2 19%
EBITDA EURm 332.2 381.1 15%
EBITDA margin   16.3% 15.6%  
EBIT EURm 193.5 235.2 22%
EBIT margin   9.5% 9.7%  
Earnings and cash flow indicators   2021 2022 Chg.
Earnings before taxes (EBT) EURm 191.6 215.9 13%
Free Cash Flow EURm 172.2 -2.8 < 100%
Balance sheet figures   2021 2022 Chg.
Balance sheet total EURm 2,033.7 2,551.3 25%
Equity EURm 765.6 915.1 20%
Equity ratio   37.6% 35.9%  
Net debt EURm 189.9 256.5 35%
Gearing   24.8% 28.0%  
Other   2021 2022 Chg.
Capex1) EURm 178.5 267.5 50%
Employees Headcount 5,249 6,088 16%

 1) Excluding lease additions (IFRS 16) in the amount of EUR 25.9m

The annual financial report and the sustainability report for the 2022 financial year will be published on March 28, 2023 and be made available on the company's website www.pierermobility.com under the following links:




About the Group

PIERER Mobility AG is the holding company of Europe’s leading manufacturer of powered two-wheelers, producing a full range of premium brands including KTM, GASGAS and Husqvarna motorcycles. With key strengths in innovation, PIERER Mobility is a pioneering technology leader in two-wheeled e-mobility through its motorcycle brands. Its Husqvarna E-Bicycles, GASGAS Bicycles, FELT Bicycles and R Raymon complement the two-wheeler segment. Rounding out the premium brand offering are high-performance components produced under the WP brand and KTM X-BOW high-end sports cars.


Legal disclaimer



For further information:

Investor Relations

Melinda Busáné Bellér

Tel.: +43 (0) 1 533 1 433 – 70

Email: ir@pierermobility.com

Website: www.pierermobility.com


ISIN: AT0000KTMI02; Swiss Valor Number: 41860974; Ticker Symbol: PMAG; Bloomberg: PMAG SE; Reuters: PMAG.S

31.01.2023 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com

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