PIERER Mobility Adjusts Guidance Amid Tougher Global Conditions

PIERER Mobility AG has announced an adjustment to its 2024 financial guidance. The company attributes this change to high interest rates in the USA and a volatile market environment in Europe. Both factors have led to sales figures falling short of expectations in its core motorbike markets.

The company is implementing a comprehensive package of measures, including tighter cost management, reducing production volumes in Austria, and expanding its supply chain in India and China. These steps are aimed at maintaining competitiveness and coping with the current economic situation.

In the bicycles division, PIERER Mobility continues to realign its focus on the premium segment, addressing challenges that arose during the pandemic. Inventory levels are being normalized, but the segment is expected to face a significantly negative EBIT due to impairment and restructuring requirements.

For the 2024 financial year, a decline in sales of 10% to 15% is expected for both motorcycles and bicycles. Cost-saving measures in the motorbike segment aim to balance the negative impacts, while the bicycle segment will complete its restructuring.