Pierer Mobility generated record sales in the first half of the year

The company announced on Tuesday that revenue rose by 20.2 percent to a record value of a good EUR 1.39 billion. The Group also increased its operating result (EBIT), which grew by 4.3 percent to EUR 96.9 million. For the year as a whole, management continues to expect sales to increase by 6 to 10 percent.

According to company information, sales increases were achieved in the same period last year in both the motorcycle sector (+19 percent) and in the bicycle sector (+37 percent). In terms of operating earnings, however, there was a weaker development in the bicycle sector caused by rebates, which was offset by a strong performance in motorcycles. In general, the bicycle industry is characterized by far-reaching changes, according to a broadcast.

Pierer Mobility sold 190,293 motorcycles (+16.5 percent) in the half year. Sales of e-bikes and bicycles increased by 39 percent to 71,491. Business in both divisions was particularly good in Europe. Almost 60 percent of the motorcycles were sold in markets outside Europe, primarily in North America with 50,472 units (+13 percent) and in India with 33,029 units (+81 percent). The markets in Latin America, Asia and Africa recorded declining growth rates. In the bicycle sector, the DACH region is still the largest sales market with around 60 percent of total sales.

At EUR 178.9 million, the operating result before depreciation (EBITDA) was 10.3 percent above the previous year’s figure. The EBITDA margin was 12.9 percent, after 14.1 percent in the first half of 2022. The company has also increased its workforce. Compared to the end of June 2022, the number of employees increased by 658 people.

With a view to the year as a whole, the company is optimistic. In the second half of 2023, we are building on further growth in the core areas, both in motorcycles and bicycles. Despite noticeable challenges in the bicycle market, the Management Board confirms the outlook for the 2023 financial year. Sales growth of between 6 and 10 percent is expected with an EBIT margin of 8 to 10 percent.